What are the responsibilities and job description for the Pharmacy Benefit Analyst position at foundationriskpartners?
Join Our Dynamic Team at ARMSRx!
There’s never been a better time to join our innovative team as ARMSRx enters an exciting new era of growth and data-driven transformation. We’re seeking detail-oriented, analytical professionals who thrive in a fast-paced environment, embrace challenges, and celebrate success together.
If you’re ready to make a meaningful impact, grow your career, and be part of a company that values excellence, collaboration, and camaraderie, ARMSRx is the place for you!
Job Summary:
The PBM Analyst plays a critical role in supporting ARMSRx’s pharmacy benefit management consulting operations through rigorous data analysis, reporting, and validation. This position is responsible for producing actionable insights that drive cost savings, optimize plan performance, and ensure the highest standards of accuracy and compliance.
The PBM Analyst collaborates with consultants and internal teams to deliver high-quality analytics, support client engagements, and contribute to the ongoing success of our clients and the organization.
Essential Functions:
- Produce savings analyses comparing PBM offers to determine the most cost-effective choice using claims data and pharmacy performance reports.
- Perform RFP analyses and prepare reports, supporting internal consultants throughout the process.
- Model plan designs for both existing and prospective clients.
- Download and manage reports and data using automated reporting tools.
- Conduct ad hoc analyses based on client or broker requests.
- Utilize claims data to generate KPI, plan performance, and other ad hoc reports as needed.
- Perform reconciliations, including discount, dispensing fee, and rebate guarantees, as well as claims repricing.
- Assist consultants with review of claims data and/or reporting for existing clients, monitoring plan performance, identifying problem areas, and uncovering cost savings opportunities.
- Review and help present findings in reports and presentations to internal and external stakeholders.
- Monitor discount and rebate guarantees for the existing client base.
- Maintain monthly, quarterly, and annual reports.
- Communicate effectively with the team, providing updates via email, video conference, and phone calls.
- Remote position with light travel
Competencies & Qualifications:
- Minimum of 3 to 5 years of experience in pharmacy benefit analytics, auditing, or a related role within the PBM or healthcare industry.
- Proficiency in Microsoft Excel (pivot tables, formulas, charts) and Microsoft Access (queries, data relationships).
- Experience working with large healthcare datasets, including pharmacy claims data.
- Familiarity with pharmacy claims adjudication systems and PBM pricing models (preferred).
- Strong analytical and critical thinking skills with the ability to translate data into actionable insights.
- Ability to work independently in a remote, fast-paced environment with minimal supervision.
- Excellent verbal and written communication skills.
- Working knowledge of rebate contracts, discount guarantees, and performance metrics in the pharmacy benefit space (preferred).
- Experience presenting analytical findings to internal and external stakeholders, including non-technical audiences (preferred).
- Knowledge of healthcare regulations, including HIPAA and transparency regulations (preferred).
Education & Experience:
- Bachelor’s degree in a relevant field (e.g., Data Science, Statistics, Healthcare Administration, Finance, Business Analytics) preferred.
Disclaimer:
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.
Equal Employment Opportunity (EEO):
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.
Benefits:
FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!