Reporting to the Director, Strategic Expansion Partnerships, the Manager, Product Development, will work with the health plan’s leadership team to develop and implement partnerships with other healthcare systems. The Manager will assist in the exploration of expansion opportunities including the formation of new health plans, jointly owned by Sentara Healthcare and the other health system that may offer Commercial, Medicaid and/or Medicare Advantage products. The Manager will need to work closely with and liaison other Optima and Sentara Healthcare system resources. Responsibilities will include:
a. Assist in due diligence effort and developing contract with business partner
b. Assist in developing a business plan and budget
c. Develop creative solutions to issues that arise
d. Develop and execute go to market product strategies for new entities as appropriate which may include;
1. Execute competitive assessment of prospective marketplace to include potential market size by product type
2. Complete competitor market share and SWOT analysis
3. Initiate and record consumer feedback by reaching out to local market specialist –brokers, health system leadership, and benefit administrators
4. Recommend and develop market/customer driven product suite with feasibility analysis
5. Work with Optima Compliance, Actuary, Market Research, Marketing, and Operations as appropriate to create, file and launch new products if necessary
Requirements: Bachelor’s degree in marketing, finance, healthcare management or related field required. Minimum of 6 years progressive, relevant, healthcare / managed care experience required.
Knowledge and experience in the following areas required:
· Health insurance/managed care products and operations experience with:
o Health reform regulation that affects health insurance and plan design
o Commercial HMO and PPO products and Government Programs (Medicaid, Medicare )
o Competent in all facets of product development cycle
· Financial and analytical skills
· Project management skills
· Information systems and technology
· Knowledge of provider-owned health plans
Other: Position will require extensive travel. Proficient with Microsoft Office applications including, Word, Excel and Power Point. Must be able to demonstrate effective presentation, written and verbal communication skills.
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