Pharmacy Inventory and Finance Specialist

Alcona Health • Alpena, MI • 2d ago

About Our Family: Established in 1978, Alcona Health Center (AHC) is a non-profit, Federally Qualified Health Center dedicated to making a lasting impact in the Northern MI communities we serve, offering medical, behavioral health, dental and pharmacy services. As a member of the AHC family, you will join a team of over 300 coworkers, all devoted to providing quality health care to all residents of our communities, regardless of their ability to pay.

Your Valued Contributions:

The 340B Inventory and Financial Specialist is responsible for ensuring compliance with the Federal 340B Drug Pricing Program while managing financial aspects such as inventory control, rebate reconciliation, and profitability analysis. This role combines regulatory oversight with financial expertise to maintain program integrity, inventory management, optimize savings, and support audit readiness.

Compliance and Regulatory Oversight

This role may be asked to work with and concomitantly with our Compliance Analysts to assist with their role (see 340B Compliance Analyst job description for additional details).

Monitor adherence to HRSA/OPA guidelines and Medicaid requirements to prevent duplicate discounts and diversion.

Conduct routine self-audits and monthly compliance checks for all 340B-eligible locations and contract pharmacies.

Prepare for and coordinate external audits, ensuring continuous audit readiness.

Verify patient, provider, and drug eligibility across mixed-use areas and clinics

Data Management and Report

Manage the accumulation of 340B eligible transactions and coordinate the submission and tracking of manufacturer rebate claims.

Assist with data submission through various manufacturer-initiated platforms

Financial Reconciliation:

Perform regular audits and reconciliation of pharmacy billing and purchasing records to ensure the accuracy of all 340B related claims and payments. This includes resolving discrepancies with third-party payers, vendors, and the finance department.

Oversee the complete invoice lifecycle for pharmaceuticals, ensuring accurate processing, authorization for payment and record-keeping for all 340B, GPO, and WAC purchases

Collaborate with the finance department to track outstanding liabilities and implement strategies to reduce financial exposure of the pharmacy department.

Inventory Management

Oversee inventory replenishment and reconciliation for 340B and non-340B accounts.

Ensure accurate capture of drug charges and purchasing eligibility based on utilization.

Develop systems to track inventory trends and identify potential compliance risks.

Physical Inventory: Coordinate and assist with monthly cycle count and the annual physical inventory process, reconciling physical counts with digital records.

Contract Pharmacy Accumulation:

Review pharmacy transaction data to ensure accurate accumulation of eligible claims and confirming the correct application of 340b Pricing and utilization

Discrepance resolution: Investigate and resolve all reconciliation discrepancies, including working with internal pharmacy staff, the finance department, contract pharmacy personnel and TPA representatives to correct billing errors or dada misalignments.

Acts as pharmacy resource for the health center.

Acts as a Point of Contact, as well as, establish and maintain effective working relationships with Nursing, Pharmacy, Medical, and ancillary staff.

Work with operations to be a SME (subject matter expert) who understands the specific needs of designated pharmacies.

Assists inpatient education, business development and general operation of the pharmacy.

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