Job Description:
The Pharmacy Business Manager works effectively with the Pharmacy Leadership Team, physician leaders, Information Services and Finance Departments to plan, organize, facilitate and monitor the activities and functions of the pharmacy business operations. The Pharmacy Business Manager will be responsible to provide the financial leadership and direction for all pharmacies, including inpatient and outpatient, to ensure continuity and consistency across and throughout departments and in the region. Ensures the delivery of cost-effective pharmaceuticals in line with the Billings Clinic mission, vision, values and goals. Accountabilities include: strategic financial planning and new program business planning directly related to the Pharmacy organization, fiscal control and responsibility to manage revenue and expense, and financial process improvement.
Essential Job Functions
• Reviews and investigates all aspects of the revenue cycle of the pharmacy to maximize charge capture and ensure appropriate reimbursement for services.
• Direct supervision and evaluation of Pharmacy business staff.
• Provides analysis of pharmaceutical purchasing for all the pharmacies and clinic departments.
• Provides operational and financial leadership for all inventory, supply, equipment acquisition and repair, and vendor relations.
• Develops and manages relationships with vendors. Regularly meets with vendors to discuss contracts, opportunities, and product related information.
• Provides financial training of Pharmacy Leadership Team and staff as necessary or requested. Able to articulate the link between finance and pharmacy operations.
• Monitors business trends and works collaboratively with Pharmacy Leadership to identify new and/or expansion of existing services within the Pharmacy line.
• Performs analyses of existing operations, new business opportunities, and service line data.
• Provides appropriate financial monitoring for all areas for early identification/detection of potential problems and alerting the leadership team of such and provides recommendations for resolution or minimizing impact.
• Provides value stream analysis support, data collection support for quality improvement initiatives, manages business and financial projects as assigned.
• Responsible for supporting pharmacy leaders in on-going analysis of annual operating and capital budgets and will be held jointly responsible for meeting financial targets and operational goals.
• Creates and maintains monthly operational and financial reports for the department. Prepares specific statistical reports to assist members of the Leadership Team with projects, goals and or assignments.
• Analysis of contracts for business terms to maximize cost savings and/or identifying areas that could be standardized to take advantage of potential cost savings.
• Works directly with the Director of Pharmacy for System Services (Specialty Pharmacy, 340B Business) to provide strategic financial planning/direction for the development of regional Pharmacy services.
• Works directly with the Director of Pharmacy for System Services (Specialty Pharmacy, 340B Business) to develop a financial framework and provide analytical support for the oversight of pharmacy services at Billings Clinic.
• Participates in evaluation, selection and integration of health care technology and information management systems that support quality of care/financial needs and the efficient use of resources. Provides the financial proforma analysis to operational leadership.
• Assist in implementing and/or improving use of software package and other changes in business practice based on changing regulations and policies.
• Act as a liaison to pharmacy departments in the Metro and regional facilities and with the pharmacy purchasing/contracting department.
• Work with hospital and outside vendor Information Services to identify and rectify lost charges/dispenses.
• Propose and implement new operational processes to reduce lost charge capture.
• Evaluates contract pharmacy arrangements for satisfactory performance and suggests changes.
• Reports to key stakeholders at each facility.
• Presentations and meetings on site with affiliate covered entities leadership teams and boards of directors.
• Evaluates opportunities to grow contract pharmacy network to benefit affiliate programs.
• Meets monthly with covered entities for industry updates and to answer any questions facilities have.
• Performs other duties as assigned or needed to meet the needs of the department/organization.