Joseph (Joe) Schmidt joined Lockton Dunning Benefits in July of 2020 as a member of the Excelsior Solutions team. Joe has over 25 years’ experience in the healthcare industry, including pharmacy benefit management, managed care, retail pharmacy and healthcare provider. As a Vice President, Team Lead, Joe guides clients through the PBM lifecycle, from PBM procurement and contract negotiation through managing an ongoing relationship to contract renewal and/or RFP, enabling clients to maximize savings, improve internal and member satisfaction, and deliver a more effective pharmacy benefit solution.
Before joining Excelsior, Joe was a Senior Benefits Consultant with Burchfield Group, a division of Aon, for five years. Prior to Burchfield, Joe worked for nearly 20 years in pricing and financial analysis roles at Express Scripts, including his tenure as Director of Client PBM Pricing for the commercial division serving national and regional employers, county and local governments and union groups. Previous to the commercial division, Joe spent ten years providing pricing, financial analysis and pharmacy budget support to Express Scripts’ health plan clients.
Joe began his career by managing pharmacy and retail accounting at Snyder’s Drug Stores, a regional chain of over 80 drugstores, followed by managing the accounting and budgeting functions of two health plans. Joe has a Bachelor of Arts degree in finance and a Master of Business Administration degree in finance and health care management from the University of St. Thomas in Minnesota.
His areas of expertise include:
- Pharmacy Benefits and PBM including PBM Contracting, Underwriting, Pricing, Financial Planning and Analysis, Accounting, Budgeting, Management Reporting, Operational and Financial Trend Analysis