Who We Are:
SmithRx is a rapidly growing, venture-backed Health-Tech company. Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (PBM) sector by building a next-generation drug acquisition platform driven by cutting edge technology, innovative cost saving tools, and best-in-class customer service. With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country.
We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values:
- Integrity: Our purpose guides our actions and gives us confidence in the path ahead. With unwavering honesty and dependability, we embrace the pressure of challenging the old and exemplify ethical leadership to create the new.
- Courage: We face continuous challenges with grit and resilience. We embrace the discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward—always.
- Together: The success of SmithRx reflects the strength of our partnerships and the commitment of our team. Our shared values bind us together and make us one. When one falls, we all fall; when one rises, we all rise.
Job Summary:
The Vice President of Trade Relations & Formulary Strategy is a critical executive leadership role responsible for the manufacturer-facing side of our supply chain. You will define and execute SmithRx’s enterprise rebate strategy, formulary management, and clinical criteria, ensuring alignment with our 100% pass-through and transparent business model.
Unlike traditional PBM roles focused on maximizing retained rebate revenue, this role focuses on driving the lowest net cost and highest clinical value for our clients. You will lead negotiations with pharmaceutical manufacturers, oversee our Group Purchasing Organization (GPO) partnerships, and direct the strategic design of our formularies and clinical utilization management programs.
What you will do:
Trade Relations & Manufacturer Strategy
- Lead Manufacturer Negotiations: Establish and maintain strategic relationships with pharmaceutical manufacturers, leading negotiations for rebates, discounts, and value-based contracts that align with SmithRx’s financial objectives and commitment to client transparency.
- GPO Management: Oversee our rebate Group Purchasing Organization (GPO) partnerships and administration, ensuring compliance, financial accuracy, and strategic alignment with our pass-through model.
- Market Access & Pipeline Monitoring: Monitor pharmaceutical market dynamics, generic pipelines, and biosimilar launches to proactively position SmithRx’s trade and contracting strategies ahead of market shifts.
- Rebate Analytics: Provide executive oversight for rebate financial modeling, market assessments, and guarantee development in partnership with the Pricing and Underwriting teams.
Formulary Strategy & Management
- Formulary Design: Serve as the executive owner of SmithRx’s formulary strategy, ensuring recommendations are grounded in clinical evidence, market intelligence, and lowest-net-cost financial modeling.
- P&T Committee Leadership: Lead and oversee the Pharmacy and Therapeutics (P&T) / Formulary Advisory Committee, setting standards for governance, documentation, and objective decision-making rationale.
- Client & Consultant Engagement: Partner with Sales and C…