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Hackensack Meridian Health · 1 month ago

Vice President, Chief Pharmacy Officer

Edison, NJ

Full-time

Onsite

Director/Executive

$361K/yr - $361K/yr

10+ years exp

Hackensack Meridian Health is committed to transforming healthcare and leading positive change within the community. The Vice President, Chief Pharmacy Officer will lead strategy and policy development for the HMH Pharmacy Enterprise, managing performance and administration across the network to drive cohesiveness and consistency.

Assisted LivingHealth CareHealth DiagnosticsHospitalMedical

Responsibilities

Create a cohesive vision for the Pharmacy function (inpatient, ambulatory retail, specialty, ambulatory and home infusion, post-acute care, research, and Population Health Pharmacy teams) across the network, with a focus on network-wide growth opportunities

Set functional objectives and establish short-term and long-range strategies for the Pharmacy Enterprise, in collaboration with local and network Pharmacy leaders

Design and implement key strategic initiatives to build and improve upon all aspects of the pharmacy revenue cycle to include building cost-effective efficiencies in the areas of systems integration, purchasing power, replenishment and inventory control

Identify community needs and novel ways to expand the business through program development and improving customer satisfaction. Develop new program proposals and implement strategies to add new and expanded sources of revenue, as well as improve savings. Develop and manage strategy for marketing and community outreach efforts for HMH Pharmacy Services

Create and oversee network advisory councils of subject matter experts, representative of the network, to drive excellence across the network

Ensure HMH's Pharmacy function is competitive in the marketplace by identifying trends and competitive moves, staying up-to-date on new research developments and specialty drugs, bringing trends and best practices to bear for the HMH Pharmacy function, and building sources of differentiation and the capability to respond within HMH

Communicate vision and strategy to local sites and hold local and network Pharmacy leaders accountable for its execution

Lead relevant clinical research initiatives across the Pharmacy function, working with the centralized research function to ensure Pharmacy is providing appropriate support

Develop and revise the Pharmacy Policy and Procedure Manual

Develop and administer a network-wide Formulary Management and Medication Usage Review program in conjunction with appropriate personnel

Proactively identify incremental medication cost-savings initiatives through clinical utilization and operational changes

Oversee medication types and volumes being maintained at different distribution sites (including Omnicell units), and update policies as needed with Nursing around drug distribution, in accordance with Department of Health regulations

Establish and maintain policies and procedures for Pharmacy, in collaboration with local and network Pharmacy leaders, informed by internal and external best practices

Establish curriculum for Pharmacy students within the HMH network, in collaboration with school officials

Develop a network-wide approach to the Pharmacy patient experience, including addressing historical barriers to client/patient satisfaction through process improvements. Work with and incorporate insights from facility leaders to execute plans. Develop Patient Care policies and procedures in accordance with evidence-based medicine and regulatory standards

Collaborate with HMH stakeholders to establish a network drug diversion monitoring and prevention program

Establish and maintain a standard drug formulary across the network, while accounting for any specialized needs of specific clinical programs

Work with relevant clinical leaders to ensure pharmacy integration into the appropriate care pathways, assure appropriate use of medications, and prudent use of resources

Execute the established productivity measurement program for the Pharmacy function. Track, analyze, and report relevant data and metrics as needed or requested, and implement appropriate process improvements with insights from facility leaders

Develop and continually ensure that a planned, systematic and ongoing process for monitoring, evaluating, and improving functional operations, systems, and services are addressed through appropriate documentation and communication. After weighing risks and/or cost benefit analysis, make decisions consistent with Pharmacy function needs and HMH network philosophies and objectives

Leverage productivity benchmarking and monitoring tools, professional association data and other tools to guide operational improvements

With input from facility leaders, determine the allocation of resources for the Pharmacy function to each facility, based upon criteria supported by volume and expense projections, cost/benefit analysis, operating procedures and other relevant information

Assist in the development of budgets, monitor relevant key financial indicators and performance metrics associated with pharmaceutical spend and revenue

Work closely with facility leaders and central HMH purchasing to evaluate needs and coordinate equipment and drug purchases and upgrades, as well as establishment of service contracts with vendors

Develop and maintain a long-range capital plan for Pharmacy services

Create a process to centrally manage pharmacy-related purchasing and service agreements to ensure optimal network efficiencies

Create network Drug Shortage risk mitigation strategy to ensure patients have access to needed medications

Determine which licenses are required for each Pharmacy facility, in accordance with relevant State and Federal regulations and ensure pharmacies remain in good standing

Establish Pharmacy policies, regulations, procedures and standards in conformance with TJC, Board of Pharmacy, DEA, licensure requirements and hospital administrative policy

Optimize and expand the 340B program while ensuring regulatory compliance

Implement relevant changes to procedures and policies based on facility leader input and Center of Analytics insights to improve the Pharmacy patient experience and ensure improved patient outcomes

Monitor and improve metrics and outcome measures to achieve best operational practices through the network. Work collaboratively with site leadership on process improvement. Support achievement of US News and World Report rankings, CMC Star Ratings, Healthgrades and national quality, safety and experience metrics

Together with the relevant facility and network leaders, make decisions regarding hiring, performance evaluation, disciplinary actions, and termination of facility and Network Pharmacy department leaders

Train, coach, and develop facility and Network Pharmacy leaders, and ensure an orderly succession of qualified talent into these roles

Working closely with facility and Network Pharmacy leaders, support the development of key functional and leadership capabilities within the Pharmacy function

Ensure that all Pharmacy employee performance appraisals are conducted thoroughly and objectively with appropriate employee feedback. Ensure all appraisals are conducted in a timely manner

Collaborate and communicate with leaders across the HMH network to ensure that Pharmacy strategy and processes are in line with system standards and long-term goals

Represent HMH in community, state, and national programs/organizations pertinent to Pharmacy and related fields

Participate in industry bodies to gather and bring to bear external best practices at HMH

Qualification

Pharmacy leadershipHealthcare operationsRegulatory complianceFinancial managementBusiness transformationTeam developmentHealthcare metrics340B program experienceMicrosoft Office proficiencyPharmacy licensureRelationship buildingProblem-solvingCommunication skillsOrganizational skills

Required

Bachelor's degree in Pharmacy, an advanced degree in Pharmacy (PharmD or Masters of Science) or Master's in Business Administration

Minimum of 10 years of progressively responsible experience in healthcare operations and hospital clinical pharmacy management, with at least 7-8 years in a leadership role

Excellent financial management, delegation, and organizational skills

Ability to establish and measure various metrics to assess success of the functional area

Strong understanding of regulatory compliance as related to the functional area

Knowledge of health care metrics, benchmarks, and standards that drive and/or shape the industry

Ability to implement and execute a successful business transformation and subscribe to a new way of doing business apart from historic culture

Ability to develop a high performing team in a matrix environment, articulate a clear vision and lead employees through change while creating trust, understanding and buy-in to the change among all stakeholders

Strong leadership presence, relationship building skills and ability to influence, lead and direct individuals in multiple functional areas and across all levels of employees, management and community leaders

Leader who is an effective, creative and transformational problem-solver

Strong business acumen focused on maximizing business and financial results, including 340B experience

Knowledge of healthcare industry current and future trends, in order to assess future market needs

A market shaper and innovator within the HMH culture

Candidates must demonstrate accomplishments through advancing pharmacy practice and developing business lines

Current State licensure as a Registered Pharmacist (RPh)