Michael Strout Email & Phone Number

Boston, MA, US

Massachusetts, United States

Heading up Payer contract administration, state price transparency reporting, federal and state policy review and Government Pricing.

Marlborough, Massachusetts, United States

Waltham, MA

• Manage contracting process for commercial, Managed Medicaid, Medicaid, Retail, GPO, wholesale, SP, SD, etc.; prepare redlines in collaboration with Legal department; confirm terms are compliant to those authorized by.
• Responsible for accurate and timely payments of rebates and administrative fees to Commercial and Managed Medicaid payers; provide utilization and payment information to account managers

Waltham, MA

• Manage contracting process for Managed Markets team (commercial, Managed Medicaid, Medicaid, Medicare); prepare redlines in collaboration with Legal department; confirm proposals are compliant to pricing guidelines.
• Responsible for accurate and timely payments of rebates and administrative fees to Commercial, Managed Medicaid and Medicare Part D payers; provide utilization and payment information to account managers
• Collaborate with account managers to create detailed deal proposals
• Provide Finance with accruals for rebates and administrative fees owed under new/amended agreements
• Interact frequently with Finance (FP&A, A/P, Government Pricing), Legal, Forecasting, brand teams and Pricing Committee
• Originated role as head of Contract Operations; hired staff, developed process flows, designed template for deal proposals, contributed to development of pricing guidelines

Washington, DC / Shrewsbury, MA

Provided consulting services to pharmaceutical companies, institutional pharmacy companies, and other healthcare entities in areas including, but not limited to, gross-to-net, contracting, 340B, Medicaid, Part B and the Affordable Care Act

Weston, MA

- Responsible for the successful negotiation, development, implementation and management of contract strategy, contracts and contractual relationships within assigned customer segments; worked closely with Account Managers, Legal, Finance, external contract customers, and other business partners such as Distributors, Specialty Pharmacies and Specialty.

Marlborough, MA

• Delivered five-year unit and price forecasts to Commercial Analytics for all discounted volume; reported accruals to Finance on quarterly basis with monthly updates; covered seven brands, all market segments.
• Presented forecasts to each brand team quarterly; identified key insights in the data; worked with each brand team on special projects
• Quantified financial impact of ACA on a quarterly basis; provided accruals for Part D Coverage Gap and annual Branded Prescription Drug Fee
• Conducted ad hoc analyses, such as determining potential value of off-schedule WAC increases, and calculating impact of new Best Price on Medicaid rebates and PHS prices
• Developed tools to forecast Part B reimbursement rates, federal AMP, Branded Prescription Drug Fee, Part D Coverage Gap rebate, and potential incremental volume from Medicaid expansion under ACA
• For each brand, became proficient in the dynamics of, and the contracting strategy toward, all market segments in which mandated or non-mandated discounts were provided: Commercial, Medicare Part D, Medicare Part B.

Marlborough, MA

Marlborough, MA

Tampa, FL

• Reduced costs by negotiating discounts on brand pharmaceuticals (annual volume: $850 million); worked with all major pharmaceutical companies; evaluated contracting opportunities in collaboration with Clinical and.
• Managed all contract portfolios – i.e., direct contracts, GPO contracts and wholesaler programs; ensured no contracts were in conflict and all contractual obligations were met
• Served as primary liaison to pharmaceutical manufacturers, GPO and Wholesaler (AmerisourceBergen)
• Forecasted rebates; provided accrual amounts to Finance; tracked rebate payments; resolved variances
• Developed multiple reporting tools, including: Overall savings achieved through contracts; estimated and actual value of Wholesaler credits and program rebates; ratio of generic to brand dispenses
• Supervised Data Analyst, Data Coordinator, and Administrative Assistant

Tampa, FL

Houston, TX

• Negotiated discounts for generic injectable portfolio; served as liaison to Contracting department at Cardinal Distribution for all other generic product contracting needs
• Worked closely with Clinical and Legal teams in evaluating and negotiating contracting opportunities