Associate Director, Managed Care Payer Contracting
Teva Pharmaceuticals
full-time
Posted on:
Location Type: Hybrid
Location: Parsippany • New Jersey • United States
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Salary
💰 $156,000 - $193,000 per year
Job Level
About the role
- Collaborate with Account Management, Payer Contracting Analytics, Payer Marketing, Legal, Finance, Compliance, and Commercial teams to develop payer contracting strategies as aligned with Teva’s business objectives
- Interpret business goals and translate them into clear, actionable contract language that appropriately captures all parties’ intent
- Author and manage the lifecycle of National pharmacy and medical benefit payer contracts, including Commercial, Medicare and Managed Medicaid
- Assess contract language risks and opportunities along with mitigation strategies, as appropriate, with a proactive and forward-thinking view
- Draft language that reflects negotiated terms and ensures legal and regulatory compliance
- Create and maintain contract templates, playbooks and clause libraries
- Work closely with Legal and Compliance teams to review terms and address legal risk
- Support and/or lead negotiations with payers and GPOs/PBMs where appropriate in collaboration with Account Management
- Coordinate redlines and counterproposals during the contract negotiation process
- Manage RFP and bid process for assigned accounts to meet required internal and external timelines
- Lead Teva’s contract approval process to ensure organizational awareness and Leadership alignment
- Optimize and standardize contract workflows, tools, and documentation practices
- Ensure contracts are executed and stored per internal governance and audit requirements
- Maintain knowledge of relevant laws, regulations, and industry best practices
- Serve as the liaison between internal teams and external partners to ensure alignment and successful contract implementation with key stakeholders, including Finance, Operations and Pricing
- Partner with Payer Contracting Analytics, Finance and Compliance to ensure key contract changes impacting financials are captured for accrual and business planning purposes
- Support Finance and Contract Compliance teams on audits, payment reconciliation and disputes, as necessary
- Lead training sessions and provide guidance on contract language and interpretation from Teva’s business perspective
Requirements
- Bachelor’s degree in Business, Law, Healthcare Administration, or related field (MBA or JD or advanced degree preferred)
- Minimum 7 years of experience in payer contracting, healthcare law, or managed care agreements (pharma/biotech or health insurance industry preferred)
- Contracting experience with National GPO and PBM customers
- Proven ability to propose, draft and interpret complex and innovative contract language
- Deep understanding of commercial and government payer environments and regulations
- Proficiency in contract lifecycle management (CLM) tools and Microsoft Office Suite
- Knowledge of compliance standards including anti-kickback statute, Medicaid Best Price, and regulatory guidance related to value-based contracting.
Benefits
- Comprehensive Health Insurance: Medical, Dental, Vision, and Prescription coverage starting on the first day of employment, providing the employee enrolls.
- Retirement Savings: 401(k) with employer match, up to 6% and an annual 3.75% Defined Contribution to the 401k plan.
- Time Off: Paid Time Off including vacation, sick/safe time, caretaker time and holidays.
- Life and Disability Protection: Company paid Life and Disability insurance.
- Additional benefits include, but are not limited to, Employee Assistance Program, Employee Stock Purchase Plan, Tuition Assistance, Flexible Spending Accounts, Health Savings Account, Life Style Spending Account, Volunteer Time Off, Paid Parental Leave, if eligible , Family Building Benefits, Virtual Physical Therapy, Accident, Critical Illness and Hospital Indemnity Insurances, Identity Theft Protection, Legal Plan, Voluntary Life Insurance and Long Term Disability and more.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
payer contractingcontract language interpretationcontract lifecycle managementcontract draftingrisk assessmentnegotiationaudit compliancepayment reconciliationdispute resolutionbusiness planning
Soft Skills
collaborationcommunicationleadershiporganizational skillsproactive thinkingguidancealignmenttrainingstakeholder managementproblem-solving
Certifications
Bachelor’s degreeMBAJDadvanced degree