PBM - Pharmacy Benefit Management

[janeno]

Did anyone have an experience (rotations, internships, jobs) with PBM organization? What did you do?
What are the pluses and minuses of that pharmacy field.
Any opinions are welcome.

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[Hels2007]

Did anyone have an experience (rotations, internships, jobs) with PBM organization? What did you do?
What are the pluses and minuses of that pharmacy field.
Any opinions are welcome.

I have done a rotation at Blue Cross Blue Shield. I liked it a lot - but that was because I had a great preceptor who showed me a lot, and explained a lot. To have a job like he has - work out pharmacy benefit plans for companies and go present to them - that would be very interesting, but such jobs are few and far between. To sit whole day and review PA requests and interactions and DURs like most PBM pharmacists - I would rather take my brain out with a rusty spoon.

 

[no-see-um]

To sit whole day and review PA requests and interactions and DURs like most PBM pharmacists - I would rather take my brain out with a rusty spoon.

that's a rough job...

 

[Pharmbabe]

I have done a rotation at Blue Cross Blue Shield. I liked it a lot - but that was because I had a great preceptor who showed me a lot, and explained a lot. To have a job like he has - work out pharmacy benefit plans for companies and go present to them - that would be very interesting, but such jobs are few and far between. To sit whole day and review PA requests and interactions and DURs like most PBM pharmacists - I would rather take my brain out with a rusty spoon.

HAHAHAHAHA! Awesome.... I was thinking more like gauging my eyes out with a rusty nail but right on LOL

 

[riskhk]

Life's not bad depending on what your job is at the PBM. Currently working at home 9-5 M-F consulting health plans.

 

[pinkyrx]

Thanks for asking this question! I've been wondering the same thing.

Life's not bad depending on what your job is at the PBM. Currently working at home 9-5 M-F consulting health plans.

What exactly does consulting health plans consist of?

 

[jawnly211]

did a rotation at one a couple months ago

my preceptor was the VP so he went to plenty of meetings and conference calls. he had plenty of responsibilities around there. almost everyday there was a lunch meeting or appointment with drug companies. YUMMY! the most interesting part was that he was a part of the P&T committee and i went to their first general meeting to discuss the formulary for 2009.

if you are interested in this type of field you should really consider getting your MBA. the actual work is about 80% business. but there were plenty of time he needed to use his clinical knowledge.

yea, but to have your own office, sit at a computer, work 9-5, its not bad at all

 

[goldenRetriever]

I interned at a company. Worked in a cubicle M-F, 9-5. The only thing I disliked was the physical inactivity. Fortunately the employees had free access to a fully loaded gym so people can work out. I always ate a small/light lunch so I wouldn't become sleepy in the afternoon.

 

[CaliCPhT]

I have done a rotation at Blue Cross Blue Shield. I liked it a lot - but that was because I had a great preceptor who showed me a lot, and explained a lot. To have a job like he has - work out pharmacy benefit plans for companies and go present to them - that would be very interesting, but such jobs are few and far between. To sit whole day and review PA requests and interactions and DURs like most PBM pharmacists - I would rather take my brain out with a rusty spoon.

I've worked for a PBM for several years working my way from DUR to Benefits Management/design. There are a great variety of opportunities for a pharmacist in a PBM. You could work in contracting with pharmaceutical companies, work on various clinical initiatives that are being pursued (pain management, asthma programs, antibiotic resistance, etc), analytics - strong demand for analysts that have an understanding of pharmacy, and Hels' beloved DUR. Now that I work in benefits management, I've had the opportunity to present benefits to a company and it was great, but I don't do that all the time. What I really do gets so mundane and boring that I'd rather take out my brain with a rusty spoon! But, it's a good job and I've learned lots.

 

[evilolive]

What exactly does working for a PBM qualify as? Corporation/administrative application of pharmacy? Does anyone have any experience as to how pharmacy knowledge is used here? I don't know much about PBMs at all.

 

[CaliCPhT]

What exactly does working for a PBM qualify as? Corporation/administrative application of pharmacy? Does anyone have any experience as to how pharmacy knowledge is used here? I don't know much about PBMs at all.

I would think that corporation/administration application of pharmacy knowledge is an accurate description. If you're working in a drug information capacity, they help compile clinical information for review by a P&T committee to make formulary decisions. You can probably see where the pharmacy knowledge comes into play with that. Other positions, I'll have to think about them for a while.

 

[Gwalla]

this sounds like an extremely interesting field.......how do i find out more it?..like perspective employers??

 

[pharmacyanalyst]

Check out the Humana website. They employ alot of pharmacists in non dispensing functions- you can search the open jobs and get an idea of the opportunities available. If you have any questions- PM me and I will try to answer them.

 

[goldenRetriever]

entails CE/CB studies, decision analysis using tools such as TreeAge, lots of number crunching and literature review. knowledge about study designs, epidemiology, biostatistics all come handy too. definitely encourage you to do AMCP P&T competitions.

 

[gaba101]

What is the range of salary of pharmacists working for PBMs?

 

[NONNOSH]

I have done a rotation at Blue Cross Blue Shield. I liked it a lot - but that was because I had a great preceptor who showed me a lot, and explained a lot. To have a job like he has - work out pharmacy benefit plans for companies and go present to them - that would be very interesting, but such jobs are few and far between. To sit whole day and review PA requests and interactions and DURs like most PBM pharmacists - I would rather take my brain out with a rusty spoon.

i need to know more about the BPM, HOW DO THEY OPERATE, their concept, could u give me more information..

U may use my mail [email protected]

 

[NONNOSH]

I would think that corporation/administration application of pharmacy knowledge is an accurate description. If you're working in a drug information capacity, they help compile clinical information for review by a P&T committee to make formulary decisions. You can probably see where the pharmacy knowledge comes into play with that. Other positions, I'll have to think about them for a while.

the BPM is a new field that i would like to work in...
but i need to know everything about..
could i ve any one that would help me...
how could i construct such a project...
ANY HELP

 

[janeno]

the BPM is a new field that i would like to work in...
but i need to know everything about..
could i ve any one that would help me...
how could i construct such a project...
ANY HELP

You might want to contact various PBM companies such as Express Scripts, Walgreens Initiatives, etc and see if they have any positions open for you.

 

[pharmd4eva]

Does anyone know if there are any PBM opportunities or companies in the DC metro area? I have searched and have not found anything.

 

[dut99002]

I'm not an RPh, but I do work on the business/customer service pharmacy operations side of a major PBM.

I work with pharmacists almost daily and can say that at least in my company, there is generally a strong demand for RPh's. *Especially* if they have additional skills in business, management, operations.

This isn't the only way to break-into/move up the ranks here, but the ideal degree in my opinion for our PBM at least would be an RPh/MBA or an RPh/MS in something business, operational or healthcare-related (e.g., MHA or perhaps an MPH if it was concentrated on healthcare management).

We have a handful of RPh's who have worked their way into management roles and most seem to lack significant business skills (with all due respect) and therefore they seem to be limited in their ability to move up in the company. A master degree of some sort is generally viewed upon as a rite of passage for most management positions in my company, unless you have some sort of significant experience as an RPh and are especially skilled.

 

[janeno]

I'm not an RPh, but I do work on the business/customer service pharmacy operations side of a major PBM.

I work with pharmacists almost daily and can say that at least in my company, there is generally a strong demand for RPh's. *Especially* if they have additional skills in business, management, operations.

This isn't the only way to break-into/move up the ranks here, but the ideal degree in my opinion for our PBM at least would be an RPh/MBA or an RPh/MS in something business, operational or healthcare-related (e.g., MHA or perhaps an MPH if it was concentrated on healthcare management).

We have a handful of RPh's who have worked their way into management roles and most seem to lack significant business skills (with all due respect) and therefore they seem to be limited in their ability to move up in the company. A master degree of some sort is generally viewed upon as a rite of passage for most management positions in my company, unless you have some sort of significant experience as an RPh and are especially skilled.

Just out of curiosity, what is the salary of pharmacists at your company?

I know some pharmacists who work in PBM environment but they completed a residency. Their jobs seems to be a little more clinical rather than business oriented.

 

[dut99002]

janeno-Our RPh's in management do have to deal with some business-related items, this is true. The regular RPh's spend the majority of their time on the phone with customers discussing Rx's.

Our normal RPh's get quarterly bonuses and are paid by the hour (it's competitive with the industry as I understand it). The RPh management are salaried and get paid probably 15-20% more.

Those who get a background in business or operations on top of their RPh seem to move up to regional and national-level positions where they can make significantly more than the plain, vanilla RPh's.

Keep in mind, I'm strictly speaking of the customer service pharmacy operations side of the business which is essentially call centers (RPh's take calls most of the day, but it's still a pretty laid back, albeit sometimes monotonous environment). I don't have much knowledge/exposure to the other sides of our business, so this is about all that I can speak to.

 

[riskhk]

Not as much as I want. Depending on the PBM and your role, it can start at 95k and my guess is 150k (director level position).