Chief Business Officer - FT

UMC Health System • Richmond, KY

9d • Hybrid

About The Position

The Chief Business Development Officer provides leadership for the health system’s managed care and business development functions under the direction of the Vice President of Business Development. The position is responsible for advancing payer strategy, reimbursement performance, employer and business relationships, market development opportunities, and strategic initiatives that support organizational growth and financial performance. The Chief Business Development Officer provides direct leadership and oversight to the Director of Managed Care and Business Development Specialist and works collaboratively with executive, clinical, financial, and operational leaders to support organizational priorities. The position serves as a senior resource for managed care performance, payer relationships, business development opportunities, market trends, and strategic financial analysis. The Chief Business Development Officer assists the Vice President of Business Development in evaluating and advancing significant strategic opportunities and prepares executive-level analyses, recommendations, and presentations for the Executive Leadership Team and Board of Directors.

Requirements

• Bachelor’s Degree in Healthcare Administration, Business Administration, Finance, Public Health, Marketing, or a related field from an accredited college or university required.
• Minimum of seven (7) years of progressively responsible experience in healthcare business development, managed care, payer relations, healthcare finance, strategy, operations, or a related field preferred.
• Minimum of five (5) years of leadership experience with responsibility for leading people, departments, significant organizational initiatives, or complex business processes.
• Demonstrated experience evaluating financial performance, developing strategic recommendations, and presenting findings to senior organizational leadership.
• Experience with hospital or health system payer contracting, reimbursement, employer relations, strategic partnerships, or market development strongly preferred.
• Experience negotiating or providing leadership oversight of complex healthcare contracts and business arrangements preferred.
• Experience working within an integrated delivery system, academic medical center, physician network, public hospital system, or similarly complex healthcare organization preferred.
• Fellow of the American College of Healthcare Executives (FACHE), Certified Healthcare Financial Professional (CHFP), or similar healthcare leadership, finance, or strategy certification preferred.
• Strong understanding of healthcare finance, managed care, payer contracting, reimbursement methodologies, revenue cycle, and healthcare market dynamics.
• Demonstrated ability to support and execute organizational growth and business development strategies.
• Strong financial acumen with the ability to interpret financial statements, reimbursement analyses, contract models, payer performance reports, market data, and business cases.
• Ability to translate complex financial, operational, payer, and market information into clear executive-level recommendations.
• Strong leadership presence with the ability to communicate effectively with executive leadership, physicians, Board members, payers, employers, and community leaders.
• Demonstrated negotiation, influence, relationship management, and conflict-resolution skills.
• Ability to identify opportunities, develop recommendations, establish priorities, and drive initiatives through implementation.
• Strong leadership skills with the ability to establish expectations, hold leaders and teams accountable, and develop high-performing staff.
• Advanced analytical, quantitative, problem-solving, and decision-making skills.
• Strong written communication and presentation skills, including development of executive summaries, Board materials, financial analyses, and strategic presentations.
• Ability to manage multiple complex initiatives and priorities in a fast-paced healthcare environment.
• Knowledge of commercial insurance, Medicare, Medicaid, Medicare Advantage, employer-sponsored health plans, value-based reimbursement, and evolving healthcare payment models.
• Understanding of healthcare regulatory and compliance considerations related to contracting, business development, provider relationships, and strategic partnerships.
• Proficiency with Microsoft Office Suite, particularly Excel and PowerPoint, and the ability to effectively utilize healthcare analytics, financial, contract management, and reporting platforms.
• Ability to travel locally and regionally and represent the organization at external meetings and events as required.

Nice To Haves

• Master’s Degree in Healthcare Administration (MHA), Business Administration (MBA), Finance, Public Health, or related discipline preferred.
• Fellow of the American College of Healthcare Executives (FACHE), Certified Healthcare Financial Professional (CHFP), or similar healthcare leadership, finance, or strategy certification preferred.
• Experience with hospital or health system payer contracting, reimbursement, employer relations, strategic partnerships, or market development strongly preferred.
• Experience negotiating or providing leadership oversight of complex healthcare contracts and business arrangements preferred.
• Experience working within an integrated delivery system, academic medical center, physician network, public hospital system, or similarly complex healthcare organization preferred.

Responsibilities

• Provide leadership and strategic direction for the health system’s managed care, payer strategy, business development, employer relations, and assigned market growth activities in alignment with organizational priorities.
• Provide leadership and oversight of the Director of Managed Care and Business Development Specialist, establishing departmental priorities, performance expectations, goals, and key performance indicators while fostering accountability, collaboration, professional development, and effective execution.
• Oversee the financial and strategic performance of managed care agreements and payer relationships, working collaboratively with Managed Care, Finance, Revenue Cycle, and operational leadership to identify opportunities to improve reimbursement, net revenue, contribution margin, cash collections, and contract performance.
• Prepare executive reports, financial analyses, strategic recommendations, and presentations regarding managed care performance, payer mix, reimbursement trends, contract opportunities, business development initiatives, market dynamics, and other strategic matters for the Vice President of Business Development, Executive Leadership Team, and Board of Directors leadership.
• Provide executive oversight and strategic guidance for significant payer negotiations and contracting activities, including reimbursement strategies, complex agreements, employer arrangements, individual case agreements, transplant agreements, and other contracts with material financial or strategic impact to the health system.
• Identify, evaluate, and advance business development and growth opportunities that support increased patient volumes, net revenue, market share, access to services, and utilization of health system programs, including employer partnerships, service-line opportunities, strategic affiliations, and other business relationships.
• Develop and maintain strong relationships with key external stakeholders, including payers, employer groups, brokers, consultants, physicians, Texas Tech University Health Sciences Center, UMC Physicians, community organizations, and other strategic business partners, representing the health system as assigned by the Vice President of Business Development.
• Develop and assist with business cases, financial projections, return-on-investment analyses, market assessments, and strategic recommendations for proposed contracts, partnerships, programs, services, and growth initiatives to support executive decision-making.
• Monitor healthcare market conditions, competitive activity, payer strategies, employer needs, reimbursement changes, regulatory developments, and industry trends to identify emerging opportunities and risks and provide recommendations to the Vice President of Business Development and other organizational leadership.
• Collaborate with executive, clinical, operational, financial, marketing, and physician leadership to advance approved strategic initiatives, ensuring managed care and business development strategies are effectively communicated, implemented, measured, and transitioned into ongoing operations.

Benefits

• UMC Health System provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment on the basis of race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive