Develop and maintain a method of identifying trends in purchasing, medication cost, regulation, and other indicators that serve to predict changes with potential for significant impact to health system finances.
Contribute to the evaluation of contracts and contract pricing, identifying potential for cost containment and cost savings, and developing financial metrics for data reporting.
Measure shrinkage (waste, expiration, diversion) in all pharmacy areas, linking receiving data to invoice approval for annual wholesaler purchases, SOA review.
Evaluate margin opportunities by drug/NDC to enhance Michigan Medicine margin including WAC/GPO/340b purchase optimization
Develop inventory optimization procedures, recommend PARS, and monitor inventory levels in central and retail pharmacies
Prepare & analyze monthly journal entries and financial reports to Pharmacy Team and assist in monthly variance reporting and budget build.
Maintain & create department policies & procedures
Train, mentor and develop staff
Additional Skills & Abilities:
Ability to communicate clearly, both verbal and written, to internal and external constituents
Solid knowledge, understanding, and experience in business, pharmacy, finance or accounting.
Must be self-motivated with an ability to work well with teams.
Must have effective organizational skills and flexibility to meet deadlines.
Strong problem solving abilities, attention to detail, and ability to multitask.
Experience with analyzing and reporting data in order to identify issues, trends, or exceptions to drive improvement of results and find solutions.
Strong analytical techniques and computer skills, including proficiency with MS Office.
Consistently striving to improve processes and meet internal/external deadlines
Ability to independently make decisions for Pharmacy Administration Team
Bachelor’s degree in a related field.
5-8 years of experience in finance, accounting, pharmacy, billing, audit and/or compliance, preferably in a University or Health Care environment.
Financial Specialist Intermediate title will be used for those with 3-5 years experience.
Business, Accounting or Finance degree is preferred.
Experience with spreadsheet applications and analyzing and reporting data in order to identify issues, trends, or exceptions to drive improvement of results and find solutions.
Experience working within Pharmacy is desirable, but not required.
Experience with Mpathways, Hyperion and Business Objects financial software systems
Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.
Michigan Medicine improves the health of patients, populations and communities through excellence in education, patient care, community service, research and technology development, and through leadership activities in Michigan, nationally and internationally. Our mission is guided by our Strategic Principles and has three critical components; patient care, education and research that together enhance our contribution to society.
Job openings are posted for a minimum of seven calendar days. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.
The University of Michigan is an equal opportunity/affirmative action employer.
Internal Number: 181252
About University of Michigan - Ann Arbor
A great university is made so by its faculty and staff, and Michigan is recognized as one of the best universities to work for in the country. The Michigan culture is known for engaging faculty and staff in all facets of the university to create a workplace that is vibrant and stimulating.For two consecutive years, the Chronicle of Higher Education has placed U-M in its "Great Colleges to Work For" survey. In particular, the university earns high marks for strong relations between faculty and administrators, a collaborative system of governance, strong pay and benefits, and a healthy work/life balance.