SmithRx

Benefits Configuration Analyst

Remote

Not SpecifiedCompensation
Junior (1 to 2 years)Experience Level
Full TimeJob Type
UnknownVisa
Health-Tech, Pharmacy Benefit ManagementIndustries

Position Overview

  • Location Type: [Not Specified]
  • Job Type: [Not Specified]
  • Salary: [Not Specified]

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 on 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.

As a Benefits Configuration Analyst, you will support cross-functional teams during implementations and build and manage pharmacy benefit plans on various platforms to ensure a high-quality SmithRx product. This role will also be responsible for supporting the Plan Operations team with core benefits operations functions while building and maintaining accurate benefit configuration.

Eligibility: Applicants must be based in one of the following states: Arkansas, Arizona, California, Colorado, Florida, Georgia, Kansas, Minnesota, Missouri, Nevada, North Carolina, South Carolina, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.

Responsibilities

  • Work with clients, identifying and understanding benefit plan requirements.
  • Build and maintain pharmacy benefit plans for client groups.
  • Aid in the organization of benefit configuration and structure for the assigned accounts by monitoring plan data integrity.
  • Assist in determining process improvement efforts.
  • Maintain prior authorizations and step therapy rules.
  • Grandfather/transition new clients and update formularies with changes at the direction of the clinical team.
  • Communicate project status, escalating issues when appropriate.
  • Provide insight into changes to improve workflow efficiency.
  • Collaborate with member support and customer success teams to review and resolve inquiries related to benefits timely to improve member experience.
  • Provide troubleshooting support for our claims adjudication process.
  • Support new client implementations, conduct go-live testing, perform post go-live auditing and support to ensure plans are configured to confirm accuracy.

Requirements

  • 4+ years of experience in payer/claims and benefit configuration required.
  • Analytical skills.
  • Microsoft Excel skills.
  • Strong communication skills via face-to-face meetings, conference calls, and written correspondence.
  • Self-starter mentality: ability to make informed decisions, find creative approaches to difficult challenges, and deliver on commitments.
  • Execution-focused ethos - you are a solutions-oriented problem solver and efficiency driven.
  • Flexible, dependable, adaptable, and able to respond under the pressure of a fast-paced technology company.

What SmithRx Offers You

  • Highly competitive wellness benefits including Medical, Pharmacy, Dental, Vision, and Life Insurance and AD&D Insurance.
  • Flexible Spending [remainder of sentence cut off]

Skills

Benefits Configuration
Pharmacy Benefit Plans
Benefits Operations
Cross-functional Collaboration
Platform Management

SmithRx

Pharmacy benefit management with transparent pricing

About SmithRx

SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. SmithRx aims to simplify pharmacy benefits while maximizing value for its clients through transparency, advanced technology, and exceptional customer service.

San Francisco, CaliforniaHeadquarters
2016Year Founded
$94.8MTotal Funding
SERIES_CCompany Stage
HealthcareIndustries
201-500Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Holidays
Wellness Program
Commuter Benefits
Parental Leave
Mental Health Support
Professional Development Budget

Risks

Increased competition from technology-driven PBMs like Capital Rx could erode market share.
Rapid technological advancements may require costly updates to SmithRx's platform.
Potential regulatory scrutiny on PBM pricing models could impact SmithRx's business model.

Differentiation

SmithRx uses a transparent 'Pass Through Pricing' model, unlike traditional PBMs.
The company leverages real-time data for efficient pharmacy benefit management services.
SmithRx offers concierge-level service, enhancing customer satisfaction and support.

Upsides

SmithRx secured $60M in Series C funding, indicating strong investor confidence.
Partnership with Banjo Health enhances prior authorization processes using AI technology.
Collaboration with TheracosBio offers cost-effective drug options for Type 2 Diabetes.

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