Data Scientist - PBM Pricing Optimization

Chicago-333 W Wacker Dr

Ameriprise Financial Services

Get financial planning advice and retirement investment advice from Ameriprise financial advisors at

View company page

Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand — with heart at its center — our purpose sends a personal message that how we deliver our services is just as important as what we deliver.
Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.

Position Summary
The Data Scientist role within CVS Health is on the front line of driving innovation and directly impacting business decisions. This role falls within the Finance Analytics team and will focus on building & deploying analytic models that help the PBM business meet its client and pharmacy financial guarantees. This team works on ML, forecasting, and optimization models (linear and mixed integer programming techniques) to optimize drug-level pricing tied to 95 million Americans. The models are designed to meet financial guarantees contracted by Caremark with its clients and pharmacy partners by optimizing drug prices while adhering to several regulatory and business constraints. The outcomes of these models (recommended drug prices) have delivered over $100M in value to Caremark.

Required Qualifications

Bachelor’s Degree in Data Science, Computer Science, Applied Math, Operation Research, Statistics, Health Policy, or other related field with 1-2+ years of professional experience in:

  • Extracting actionable insights from the analysis and interpreting outcomes of complex models to present to business audiences including technical, non-technical, and senior leaders
  • Preparing data for analysis, working with data engineering team to create modeling dataset, assess completeness and quality of data, and perform feature engineering
  • Communicating effectively and confidently with business partners, project team members, and senior management
  • Working with data and have a strong understanding of analytics and how it is leveraged within the healthcare/retail industry

Required Skills

  • 2+ years of experience applying modern machine learning techniques to build predictive models for both classification and regression problems
  • 2+ years’ experience with general linear models, including regression techniques, marketing mix models, etc.
  • 2+ years of experience coding in Python or similar programming language
  • 1+ year experience with SQL
  • 1+ year experience with statistical measurements including experimental design, test and control selection, propensity matching, etc.

Preferred Qualifications

  • 3+ years’ experience coding in Python, and optimization packages such as Gurobi, CPLEX, etc.
  • Prior experience developing & deploying advanced analytics models supporting Underwriting, Actuarial and Financial Optimization domains
  • Experience with mathematical optimization in a financial services industry role would be highly ideal


  • Bachelor’s Degree in Data Science, Computer Science, Applied Math, Operation Research, Statistics, Health Policy, or other related field; or Advanced Degree
  • Preferred: Master’s Degree or PhD in Data Science, Computer Science, Applied Math, Operation Research, Statistics, Health Policy, or related field

Pay Range

The typical pay range for this role is:

$75,705.00 - $154,500.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls.  The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors.  This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. 
In addition to your compensation, enjoy the rewards of an organization that puts our heart into caring for our colleagues and our communities.  The Company offers a full range of medical, dental, and vision benefits.  Eligible employees may enroll in the Company’s 401(k) retirement savings plan, and an Employee Stock Purchase Plan is also available for eligible employees.  The Company provides a fully-paid term life insurance plan to eligible employees, and short-term and long term disability benefits. CVS Health also offers numerous well-being programs, education assistance, free development courses, a CVS store discount, and discount programs with participating partners.  As for time off, Company employees enjoy Paid Time Off (“PTO”) or vacation pay, as well as paid holidays throughout the calendar year. Number of paid holidays, sick time and other time off are provided consistent with relevant state law and Company policies.  
For more detailed information on available benefits, please visit

We anticipate the application window for this opening will close on: 06/24/2024

Apply now Apply later
  • Share this job via
  • or

Tags: Classification Computer Science Engineering Feature engineering Finance Machine Learning Mathematics PhD Python Research SQL Statistics

Perks/benefits: Career development Equity / stock options Health care Insurance Salary bonus

Region: North America
Country: United States
Job stats:  3  2  0
Category: Data Science Jobs

More jobs like this

Explore more AI, ML, Data Science career opportunities

Find even more open roles in Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Computer Vision (CV), Data Engineering, Data Analytics, Big Data, and Data Science in general - ordered by popularity of job title or skills, toolset and products used - below.