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Full-Time

Director – People Operations

Posted on 10/30/2024

SmithRx

SmithRx

201-500 employees

Pharmacy benefit management with transparent pricing

Enterprise Software
Healthcare

Senior

San Francisco, CA, USA

Category
Human Resources
People & HR
Requirements
  • Bachelor's degree in Human Resources, Business Administration, or a related field; Master's degree preferred.
  • 10+ years of progressive HR experience, with 5 years in a leadership role.
  • Strong knowledge of HR principles, practices, and regulations.
  • This role requires a proactive and versatile individual with a strong continuous improvement and execution mindset in areas related to processes, policies, systems, benefits, compensation, reporting, and employee engagement.
  • Demonstrated experience developing and implementing HR strategies aligned with business objectives.
  • Proven track record of effectively leading and developing high-performing teams.
  • Experience in HR systems implementation and optimization, as well as proficiency in HR analytics and data-driven decision-making.
  • Excellent communication, interpersonal, and influencing skills.
  • Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.
Responsibilities
  • Develop and execute HR strategies that improve operational efficiency and align with company objectives.
  • Advise senior leadership on HR operations, contributing to strategic planning and decision-making.
  • Lead the design and execution of talent development, employee engagement, and other people initiatives to attract, onboard, retain and develop top talent.
  • Work closely with leadership to i​mplement best practices across employee relations, communication, talent and career development, and total rewards.
  • Provide leadership and direction in change management initiatives, driving the adoption of new processes and technologies across the organization.
  • Develop and manage the budget for HR operations and technology, ensuring optimal allocation of resources.
  • Develop and focus on continuous improvement for our HR infrastructure, processes, policies, and workflows to ensure they are compliant, efficient, and scalable.
  • Manage the HR operations team, ensuring high performance, professional growth, and alignment with business goals.
  • Oversee performance management processes, including OKR setting, feedback, and performance evaluations.
  • Implement professional development programs to support career growth and skill enhancement.
  • Leverage HR analytics to identify performance trends, develop insights, and guide targeted interventions for talent development and performance improvement.
  • Champion a culture of inclusivity, respect, and collaboration throughout the organization.
  • Lead initiatives to promote diversity, equity, and inclusion, fostering a sense of belonging for all employees.
  • Utilize employee feedback and sentiment analysis tools to assess employee satisfaction and identify opportunities to enhance the employee experience.
  • Oversee the maintenance and optimization of HR systems to support all HR functions, ensuring they are integrated and data integrity is maintained.
  • Lead the evaluation, selection, implementation, optimization, and adoption of new and existing technologies to enhance the total company employee experience and streamline HR processes aiming for simplification and scalability.
  • Build HR analytics dashboards and reporting capabilities to provide insights into workforce trends, performance metrics, and HR KPIs.
  • Use predictive analytics to forecast talent needs, identify potential risks, and develop proactive strategies for talent management.
  • Lead transformative initiatives to enhance the employee experience, optimize processes, and index on automation to drive manager/ employee self-service where appropriate.
  • Maintain in-depth knowledge of legal requirements related to day-to-day management of the HR function, reducing legal risks and ensuring compliance.
  • Develop and maintain HR policies and procedures in alignment with legal requirements and industry best practices.
  • Utilize HR systems and data analytics to monitor compliance efforts and mitigate HR-related risks effectively.
  • Guide the team in developing and maintaining SOPs and playbooks on all employee policies, procedures, and processes.
  • Interface with Finance and other key stakeholders on crossover processes and initiatives including effective payroll operation, tracking data changes, and audit of regular payroll reports.
  • Collaborate with key stakeholders to ensure appropriate internal controls and relevant internal audits are in place.

SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. By prioritizing transparency, advanced technology, and exceptional customer service, SmithRx aims to simplify pharmacy benefits and maximize value for its clients.

Company Stage

Series C

Total Funding

$98.7M

Headquarters

San Francisco, California

Founded

2016

Growth & Insights
Headcount

6 month growth

9%

1 year growth

30%

2 year growth

232%
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Simplify's Take

What believers are saying

  • SmithRx's recent $60M Series C funding led by Venrock positions the company for significant growth and innovation in the PBM market.
  • The partnership with Banjo Health to revolutionize prior authorization processes demonstrates SmithRx's commitment to leveraging cutting-edge technology for improved efficiency and transparency.
  • SmithRx's collaboration with TheracosBio to offer newly approved diabetes drugs highlights its dedication to providing cost-effective and essential medications to its members.

What critics are saying

  • The PBM market is highly competitive, and SmithRx must continuously innovate to maintain its unique value proposition.
  • Reliance on the 'Pass Through Pricing' model may limit revenue growth compared to traditional PBMs that profit from rebates and hidden fees.

What makes SmithRx unique

  • SmithRx's 'Pass Through Pricing' model ensures complete transparency by passing 100% of rebates to clients, unlike traditional PBMs that profit from hidden fees and inflated drug prices.
  • The company's robust technology platform leverages real-time data to enhance service offerings, setting it apart from competitors who may rely on outdated systems.
  • SmithRx's concierge service provides exceptional support to both members and customers, further distinguishing it from other PBMs that may lack personalized customer care.

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