RxSense

Formulary Operations Analyst

Princeton, New Jersey, United States

RxSense Logo
Not SpecifiedCompensation
Junior (1 to 2 years)Experience Level
Full TimeJob Type
UnknownVisa
Healthcare Technology, Pharmacy Benefits ManagementIndustries

Requirements

Candidates should possess a Bachelor’s degree or 1 year equivalent experience in healthcare (PBM), along with 1+ year’s of experience in formulary operations, pharmacy claims adjudication, or related healthcare analytics. Demonstrated expertise in configuring and maintaining formulary data within claims systems is required. Strong knowledge of pharmacy benefit operations is also necessary.

Responsibilities

The Formulary Operations Analyst will configure, update, and maintain custom and standard formularies within the claims adjudication system, ensuring accuracy and alignment with client intent, clinical strategy, and regulatory requirements. They will troubleshoot adjudication issues, conduct detailed analysis to resolve defects, participate in client implementations by gathering formulary requirements, serve as a clinical capabilities subject matter expert, collaborate with internal teams, perform audits to validate formulary configuration accuracy, monitor claim processing, assist in analyzing and presenting data, and support client interactions. Additionally, the Analyst will contribute to special projects, process optimization, and platform enhancements, recommending and implementing improvements to ensure greater accuracy, efficiency, and scalability of formulary operations.

Skills

Formulary configuration
Pharmacy claims systems
Data quality assurance
Technical proficiency
Operational strategy
Clinical knowledge

RxSense

Pharmacy benefits management technology solutions

About RxSense

RxSense provides technology solutions for the pharmacy benefits management (PBM) industry, focusing on simplifying and optimizing the management of pharmacy benefits and claims. Its main product is an enterprise platform that integrates real-time business intelligence and analytics, allowing PBMs to gain actionable insights and make informed decisions to improve their operations. This platform is modular, enabling clients to customize their use and enhance care delivery. RxSense differentiates itself from competitors by offering APIs that ensure interoperability between different systems, complying with industry standards. The company's goal is to transform the PBM industry by providing tools that enhance efficiency and empower clients with timely data and insights.

Key Metrics

Boston, MassachusettsHeadquarters
2015Year Founded
GROWTH_EQUITY_VCCompany Stage
Data & Analytics, HealthcareIndustries
201-500Employees

Risks

Increased competition in the PBM space may pressure RxSense to innovate rapidly.
Partnership with Walgreens may expose RxSense to regulatory challenges.
Investment from Parthenon Capital could lead to strategic shifts causing internal disruptions.

Differentiation

RxSense offers a modular platform with real-time analytics for PBMs.
The company provides APIs compliant with FHIR and NCPDP standards for interoperability.
RxSense's platform delivers actionable insights for data-driven decision-making in pharmacy benefits.

Upsides

Partnership with Walgreens enhances consumer access to prescription discounts nationwide.
Growing demand for cloud-based healthcare solutions aligns with RxSense's offerings.
Collaboration with Scipher Medicine integrates precision medicine into pharmacy benefits management.

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