Managed Care Residency and job opportunities

[SortingItOut]

I am finished with my interviews and trying to figure out how to rank my sites. One site has a managed care program. I have a question for current and former managed care residents. How easy/hard was it for you to find a job once you completed your residency program?

Although I would love it if any organization I'm matched with will hire me after completing their program, one cannot be so sure. So, I was wondering what the current managed care job market looked like. I can only find maybe a handful of managed care pharmacist positions. Maybe I'm not looking at the right place? I was also wondering if anyone thinks the managed care market might grow due to the push by APhA for MTM. (I know... I know.)

If the managed care market doesn't look promising in a year, are there other areas I could pursue with a managed care residency on my resume? In other words, would a managed care residency help me get my foot in the door for an ambulatory clinical pharmacist position?

Thanks!

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[PumpkinSmasher]

I am finished with my interviews and trying to figure out how to rank my sites. One site has a managed care program. I have a question for current and former managed care residents. How easy/hard was it for you to find a job once you completed your residency program?

Although I would love it if any organization I'm matched with will hire me after completing their program, one cannot be so sure. So, I was wondering what the current managed care job market looked like. I can only find maybe a handful of managed care pharmacist positions. Maybe I'm not looking at the right place? I was also wondering if anyone thinks the managed care market might grow due to the push by APhA for MTM. (I know... I know.)

If the managed care market doesn't look promising in a year, are there other areas I could pursue with a managed care residency on my resume? In other words, would a managed care residency help me get my foot in the door for an ambulatory clinical pharmacist position?

Thanks!

Are we talking an HMO/Intergrated health system managed care residency or a PBM (medco, caremark, untiedhealth, wellpoint, healthnet) type managed care residency?

 

[SortingItOut]

It is an HMO/Intergrated health system managed care residency program.

 

[PumpkinSmasher]

You are the one who applied to this specific residency...you tell us...Does it have a heavy focus on amb care during residency? If it does then yes you would probably be able to pursue an amb care type position or go on to a PGY2 in amb care. I would talk to the program again and find out where past residents of theirs have gone on to practice.

Did you ask the program director and staff/clinical pharmacists there what their perceptions were on the future growth of managed care pharmacy demands? If you are truly interested in managed care, then go back and ask the program, talk to your school and see if they have any preceptors in your area that are in the managed care field that would be willing to discuss the future of the field with you on through email or phone.

I have my opinions on the future of health management programs and mtm in the managed care setting based on my experiences as a student but that offers you nothing concrete

 

[SortingItOut]

I am doing or already have done everything you suggested in your second paragraph. I even went to an outside unbiased source to get their take. My main purpose for posting is to gather multiple opinions before I come to a decision on where I want to rank them.

First, I wanted to hear from managed care pharmacists about whether or not they thought the number of pharmacy jobs were growing in the managed care field.

Second, I wanted to know if pharmacy departments in other fields would still hire me if something didn't work out with the site or with the managed care job market in general. (By the way, yes, there is a nice ambulatory component.)

If anyone doesn't want to talk to me out in the public forum, they can always send me a private message.

 

[All4MyDaughter]

I have been told (2nd hand) that a managed care residency doesn't do much to prepare you for working in a hospital (that info supposedly came from a hospital director level pharmacy person). The same source said that managed care residencies might prepare you for administrative or clinical coordinator type jobs in retail pharmacy, working for the government (like in state Medicaid) or for administrative/leadership positions with pharmacy organizations. You could also probably obtain a teaching or administrative position with a college of pharmacy.

Take that with a grain of salt because like I said, it's secondhand.

I agree with whomever said that a MC residency with a strong MTM component might prepare you for an ambulatory care position.

 

[SortingItOut]

I have been told (2nd hand) that a managed care residency doesn't do much to prepare you for working in a hospital (that info supposedly came from a hospital director level pharmacy person). The same source said that managed care residencies might prepare you for administrative or clinical coordinator type jobs in retail pharmacy, working for the government (like in state Medicaid) or for administrative/leadership positions with pharmacy organizations. You could also probably obtain a teaching or administrative position with a college of pharmacy.

Take that with a grain of salt because like I said, it's secondhand.

I agree with whomever said that a MC residency with a strong MTM component might prepare you for an ambulatory care position.

Thank you. I have been poking around job search engines, so it gives me a new place to start.

 

[spacecowgirl]

I completed a PGY1 in managed care/amb care and now work in a hospital in an admin/clinical/staff position (we are all mixed staffing in my dept). I have been surprised at what my residency did prepare me for, especially with respect to P&T, DUR, stuff like that. My residency wasn't very focused on benefit design, more on how to optimize medication use on a population level. That's useful in any work environment. As for the amb care portion, that training does transfer over to inpatient in many ways, more so than hospital would transfer to amb care. I also see clinic patients.

It was not my plan to work in a hospital, but as I have posted many times here, I truly love my job. I look forward to going to work (nerd). It was a right place, right time sort of situation that was too great to pass up. I would have been well-trained for an amb care position as well, but at the time there weren't any in locations I wanted.

As far as jobs, I've seen a few pop up in my state association email. It really depends on where you live. There are several PBMs and MCOs in my area so obviously, there are more jobs. If you are willing to relocated, all the better, of course.

tl;dr - a MC residency is likely not to be as restrictive as one might think.

 

[SortingItOut]

Spacecowgirl, thank you for the information.

 

[StreetFarmercy]

I am doing or already have done everything you suggested in your second paragraph. I even went to an outside unbiased source to get their take. My main purpose for posting is to gather multiple opinions before I come to a decision on where I want to rank them.

First, I wanted to hear from managed care pharmacists about whether or not they thought the number of pharmacy jobs were growing in the managed care field.

Second, I wanted to know if pharmacy departments in other fields would still hire me if something didn't work out with the site or with the managed care job market in general. (By the way, yes, there is a nice ambulatory component.)

If anyone doesn't want to talk to me out in the public forum, they can always send me a private message.

I have the same concerns/questions you have. After completing a summer internship as a P1 - yes, I knew I was very interested in MC from the very beginning - I am pretty sure it's the career I want to pursue.

However, like you said, I do not want to be pigeonholed into managed care ONLY if I do a managed care residency. If there are no managed care job openings, I would like the flexibility to work as a staff pharmacist in a hospital setting.

From your talks to thought leaders in the managed care arena, what have you learned? I am very curious to hear about your insights about the future of managed care.

Thanks in advance, and if you want to PM me, that is fine.

 

[PumpkinSmasher]

I have the same concerns/questions you have. After completing a summer internship as a P1 - yes, I knew I was very interested in MC from the very beginning - I am pretty sure it's the career I want to pursue.

However, like you said, I do not want to be pigeonholed into managed care ONLY if I do a managed care residency. If there are no managed care job openings, I would like the flexibility to work as a staff pharmacist in a hospital setting.

From your talks to thought leaders in the managed care arena, what have you learned? I am very curious to hear about your insights about the future of managed care.

Thanks in advance, and if you want to PM me, that is fine.

If managed care is what you are passionate about pursuing then at some point you need to stop worrying about being 'pigeonholed' and focus on successful career in managed care.

 

[spacecowgirl]

However, like you said, I do not want to be pigeonholed into managed care ONLY if I do a managed care residency. If there are no managed care job openings, I would like the flexibility to work as a staff pharmacist in a hospital setting.

From your talks to thought leaders in the managed care arena, what have you learned? I am very curious to hear about your insights about the future of managed care.

Thanks in advance, and if you want to PM me, that is fine.

Did you read my post?

If managed care is what you are passionate about pursuing then at some point you need to stop worrying about being 'pigeonholed' and focus on successful career in managed care.

 

[SortingItOut]

However, like you said, I do not want to be pigeonholed into managed care ONLY if I do a managed care residency. If there are no managed care job openings, I would like the flexibility to work as a staff pharmacist in a hospital setting.

Exactly, and I don't have any hospital experience.

 

[PumpkinSmasher]

Did you read my post?

They do not listen do they? Sorry, no one can predict the future or give you any guarantees. Honestly it sounds like you do not know what you want to do, if that is the case, a general PGY-1 residency would probably be the best thing for you. You will get broad exposures and hopefully will be able to nail down what you want to do. PGY-1 residencies encompass some managed care pharmacy duties: DUR, MUE, safety initiatives, monographs, P&T, and so on.

 

[SortingItOut]

PumpkinSmasher, I understand what you are saying. Yes, I want to love what I am doing (which I think managed care is), and yes, the thing I am concerned about is the job market. Most managed care pharmacy jobs I'm finding are on the west coast. I'm not moving to the west coast away from everyone I love. Relocating up to a 12 hour drive away, on the other hand, I would be willing to do.

The other thing you have to understand is that a staff pharmacist position, for me, is my backup plan. For some, it is retail. For me, it is hospital. But, again, I don't have the experience, so I am a little worried.

 

[PumpkinSmasher]

PumpkinSmasher, I understand what you are saying. Yes, I want to love what I am doing (which I think managed care is), and yes, the thing I am concerned about is the job market. Most managed care pharmacy jobs I'm finding are on the west coast. I'm not moving to the west coast away from everyone I love. Relocating up to a 12 hour drive away, on the other hand, I would be willing to do.

The other thing you have to understand is that a staff pharmacist position, for me, is my backup plan. For some, it is retail. For me, it is hospital. But, again, I don't have the experience, so I am a little worried.

This is just from my experiences in managed care, which are limited. But I believe a lot of positions are through who you know and networking. You will not always see positions posted online.

Several HUGE PBMs operate in the midwest and east coast and every single metro city in the USA will have some sort of MCO/PBM/integrated health system/HMO.

Wish you the best of luck, I hope you get what you want!

 

[spacecowgirl]

They do not listen do they?

They really don't.

Humana is in Cincinnati
United and Express Scripts are in Minneapolis
Aetna is in Hartford
CVS/Caremark is in RI
Medco is in NJ

I'm sure there are branches elsewhere, not to mention smaller MCOs/HMOs that are only statewide

http://www.indeed.com/jobs?q=managed+care+Pharmacist&start=10

PBMs
http://www.pbmi.com/pbmdir.asp

 

[PumpkinSmasher]

They really don't.

Humana is in Cincinnati
United and Express Scripts are in Minneapolis
Aetna is in Hartford
CVS/Caremark is in RI
Medco is in NJ

I'm sure there are branches elsewhere, not to mention smaller MCOs/HMOs that are only statewide

http://www.indeed.com/jobs?q=managed+care+Pharmacist&start=10

PBMs
http://www.pbmi.com/pbmdir.asp

And that is only the MCOs/PBMs, that does not include pharmacists that transition from managed care to Pharma, Mckesson/Cardinal/ABC, Corporate Retail, consulting companies, pharmacy associations, supply chain management/operations in hospitals, pharmacy informatics, research, etc where their expertise can be utilized.

 

[capricorn09]

Do you know of any PGY2 residency opportunities available after doing PGY1 in managed care? What are the different fields to go into after that? I was always under the impression that managed care jobs are more financially rewarding than hospital/retail-- but I'm now finding out that's not the case. Starting out in a managed care job one probably makes around 100k but is there a ceiling to that or is there greater potential to grow in managed care? The info you've posted so far has been helpful, thanks!

 

[PumpkinSmasher]

Do you know of any PGY2 residency opportunities available after doing PGY1 in managed care? What are the different fields to go into after that? I was always under the impression that managed care jobs are more financially rewarding than hospital/retail-- but I'm now finding out that's not the case. Starting out in a managed care job one probably makes around 100k but is there a ceiling to that or is there greater potential to grow in managed care? The info you've posted so far has been helpful, thanks!

There are unaccredited residencies that can be found on the AMCP websites that can tailor residencies programs for those who already completed a PGY1 and then there are Industry fellowships as well. A few of the managed care pgy1s also offer 24 month programs where you obtain a Masters during the residency. The VA also has 2 PGY2s in managed care and Kaiser offers some PGY2s in managed care. You just have to look.

Managed Care is a dynamic field, it will really depend on your strengths and where you want to practice. Many pharmacists start out performing prior authorization reviews and prescriber interventions. Some pharmacists will get heavily involved in formulary management, creating, managing, and building formularies for clients, presenting to/helping run P&T, writing position statements, monographs, coverage criteria documents, medication use evaluations, drug class reviews, etc. You may get more involved in the data and analytics side of the company and be responsible for utilization reporting. patient outcome studies, and providing cost-effectiveness data.

Your role within the MCO may also be soley as an MTM provider. Then there is also the realm of director and manager positions within the departments and company. As you can see there are many different fields of practice even within one MCO. You could be doing those tasks as primary job or many of those tasks under one job.
Depending on the training you receive during your residency and while you work for a MCO.


Fields:
-PBM
-MCO
-Specialty Pharmacy
-Industry
-Managed care account manager for pharma
-MSL
-Amb care clinic
-Independent pharmacy owner (background in managed care gives you a good understanding of the market and may help you identify niche areas)
- Drug information specialist
-Community pharmacy, LTC, mail-order management positions
-etc. There are many, many doors that can open for strong pharmacists that work hard and take the initiative to find info/training on their own!

Financially rewarding will go with your abilities and talents. In the beginning the pay may be on the lower end of average or average compared to other practice settings. As you show your abilities and talents you may receive more responsibilities or may be able to apply for other positions within the MCO. Cream will rise to the top and the financial rewards will be there.

From my limited experience, those who will rise quickest are going to be pharmacists with very strong business aptitudes, who truly understand the pharmacy industry, where the market is heading, and are creative/innovators. Clinical skills are important but if you do not have the business aptitude and interpersonal skills to communicate with clietns and upper level management then it will be hard to succeed in climbing the company/dept ladder. You need to be an extrovert, love talking to people and being able to do so in a professional manner.

I would focus on making sure managed care is an area that you are passionate before worrying about everything else. It is a dynamic niche in pharmacy that offers professional, personal, and financial rewards to those who work hard and love what they do.

 

[hopesmile]

I would like to explore myself into managed care pharmacy. However, I found the no. of opportunities are kind of limited, esp east coast. I see most of the positions require pharmD, residency, or advanced training or prior related experience. As a rph with BS of pharmacy, with couple years of experience in hospital inpatient pharmacy and retail. How do i get a foot into managed care pharmacy? any course or certificate program that I can get myself to prepare? what type of candidate are they looking for in terms of screening the resume?
I don't think i can do any residency, it seems very difficult to get into it without a pharmd, any advice?

thanks alot!

 

[PumpkinSmasher]

I would like to explore myself into managed care pharmacy. However, I found the no. of opportunities are kind of limited, esp east coast. I see most of the positions require pharmD, residency, or advanced training or prior related experience. As a rph with BS of pharmacy, with couple years of experience in hospital inpatient pharmacy and retail. How do i get a foot into managed care pharmacy? any course or certificate program that I can get myself to prepare? what type of candidate are they looking for in terms of screening the resume?
I don't think i can do any residency, it seems very difficult to get into it without a pharmd, any advice?

thanks alot!

I would think an MBA would be a helpful credential, becoming BPS certified may also help. The annual Academy of Managed Care Pharmacy meeting is coming up at the end of April in Minneapolis. Maybe you could netowrk there or at least meet folks from your area who could give you tips. It is hard to say, I am only a student myself so take it with grain of salt.

Good luck.

 

[dingerx]

I would like to explore myself into managed care pharmacy. However, I found the no. of opportunities are kind of limited, esp east coast. I see most of the positions require pharmD, residency, or advanced training or prior related experience. As a rph with BS of pharmacy, with couple years of experience in hospital inpatient pharmacy and retail. How do i get a foot into managed care pharmacy? any course or certificate program that I can get myself to prepare? what type of candidate are they looking for in terms of screening the resume?
I don't think i can do any residency, it seems very difficult to get into it without a pharmd, any advice?

thanks alot!

I worked briefly for a PBM. It's almost universal you have to have a Pharm.D., residency training or industry experience.

 

[hopesmile]

I would like to explore myself into managed care pharmacy. However, I found the no. of opportunities are kind of limited, esp east coast. I see most of the positions require pharmD, residency, or advanced training or prior related experience. As a rph with BS of pharmacy, with couple years of experience in hospital inpatient pharmacy and retail. How do i get a foot into managed care pharmacy? any course or certificate program that I can get myself to prepare? what type of candidate are they looking for in terms of screening the resume?
I don't think i can do any residency, it seems very difficult to get into it without a pharmd, any advice?

thanks alot!

thanks for your reply PumpkinSmasher and dingerx!

is there any other managed care pharmacist can provide me with more advice?
I really appreciate it!

 

[SortingItOut]

Update:
I did not get the managed care site. Really upset about it.

Of course, I didn't get any residencies in general. I'm back to job hunting. Doubt I'll get into the managed care field at this point.

 

[spacecowgirl]

Sorry to hear that, Sorting