Product Development Partner

Intermountain Health

1d • $59 - $90 • Hybrid

About The Position

The Product Development Partner develops and manages a portfolio of multiple products of high complexity for small employer and individual business segments. Responsibilities include product and policy development and implementation, network changes, medical coverage changes or expansion, etc. The work will encompass activities such as researching applicable regulations, benchmark plan analysis, and state mandates; reviewing competitor coverage; vetting proposals across multiple markets and product lines; and ensuring related processes are in place and followed. Location The role is hybrid and will require in-office time on occasion, primarily in Murray, Utah. Travel to other areas where Select Health conducts business may be required. Candidates who live in, or are willing to relocate to, Utah, Idaho, Nevada, or Colorado are preferred, but we may also consider other locations. Please note that a video interview through Microsoft Teams will be required as well as potential onsite interviews and meetings Job Essentials Develops and/or manages a portfolio of multiple products of high complexity for an assigned business segment/geography or a single business segment across multiple states/market geographies with projected annual revenue above $400 million (e.g., Medicaid, Medicare, commercial insured products, ancillary products and self-insured administration). Ensures positive program outcomes by leading and supporting the implementation of clinical, operational, and financial improvement initiatives. Takes a lateral view across the organization, understands the organizational and external market complexities, and identifies necessary initiatives and interdependencies that must be coordinated to reach program objectives. Directs and guides project and product managers and department leads to ensure proper coordination and alignment of resources. Attends budget meetings and understands financial impact of initiatives. Ensures assigned product line(s) (or new product) is positioned to meet Select Health membership growth goals and NOI targets. This includes management of the entire product life cycle (market intelligence, conceptualization, product development, launch, growth, maturity and retirement). Ensures products meet highest levels of market need, administrative efficiency, customer satisfaction, regulatory compliance, and financial performance. Develops and monitors key performance indicators for product lines. Develops new health insurance and ancillary products. Develops, manages, and implements strategic product initiatives. Ensures products address market needs and achieve the overall business objectives. For new products, completes a feasibility analysis and business case; recommendation for the new product or opportunity; and a business plan, including a pro forma and financial projections; sales forecasts; an operational assessment; a marketing plan; and a high-level implementation plan. Introduces new products to market. Leads sales, marketing, broker relations and other internal departments in developing multi-channel product distribution strategies, ensures effective communication/promotional strategies, develops key messaging for products and key strategic market/regulatory issues, and produces product materials and sales collateral, etc. Directs the launch of new products and services. Evaluates new product opportunities, geographic/service area expansion, new market entry and potential strategic partnerships to meet growth objectives of Select Health. Ensures insurance market and product education to internal teams as well as brokers/agents, physicians, practice managers, current and potential employer customers, health system partners/affiliates and other constituent groups. Strategizes with existing or potential risk share partners to ensure mutually beneficial outcomes in strategic partnerships. Maintains partnership relationships and serves as the primary point of contact for relationship as assigned. Resolves significant concerns. Monitors national carrier and local competitor products, positioning, strategies, networks, as well as local and national industry trends. Identify emerging market trends. Conducts market research (multiple markets/geographies) and analysis; customer research; and concept testing for potential new product opportunities or service area expansions. Ensures customer research and market/competitive intelligence is utilized to ensure optimal product positioning. Develops affiliations and partnerships as necessary for new product and/or service opportunities. Reviews contracts, SLAs etc., to ensure appropriate execution of such by Select Health and contracted entities. Skills People management Strategic planning Marketing Product management Project management Market positioning Benefits management Market research Product development Strategic alliances

Requirements

• Ten years of experience in health care, health insurance, managed care, employee health benefits management or self-insured plan administration experience with a record of progressive and varied responsibilities with at least five years of experience related to the assigned products (e.g., product development, product management, project management, service line management, network development, strategic planning, marketing, and/or business development.)
• Demonstrated understanding of actuarial pricing models, underwriting practices, risk management/mitigation/avoidance strategies, adverse selection, the full continuum of provider payment arrangements, multi-channel insurance product distribution, and the impacts of these on product marketability and performance.
• Experience driving organic growth through product and product initiatives, with an ability to recognize growth opportunities in the revenue streams.
• Deep understanding of insurance product analytics, its levers and the consumer behaviors needed to develop a strong performing product.

Nice To Haves

• Master's degree in healthcare administration, business administration, clinical field, public health, or related field

Responsibilities

• Develops and/or manages a portfolio of multiple products of high complexity for an assigned business segment/geography or a single business segment across multiple states/market geographies with projected annual revenue above $400 million (e.g., Medicaid, Medicare, commercial insured products, ancillary products and self-insured administration).
• Ensures positive program outcomes by leading and supporting the implementation of clinical, operational, and financial improvement initiatives.
• Takes a lateral view across the organization, understands the organizational and external market complexities, and identifies necessary initiatives and interdependencies that must be coordinated to reach program objectives.
• Directs and guides project and product managers and department leads to ensure proper coordination and alignment of resources.
• Attends budget meetings and understands financial impact of initiatives.
• Ensures assigned product line(s) (or new product) is positioned to meet Select Health membership growth goals and NOI targets. This includes management of the entire product life cycle (market intelligence, conceptualization, product development, launch, growth, maturity and retirement).
• Ensures products meet highest levels of market need, administrative efficiency, customer satisfaction, regulatory compliance, and financial performance.
• Develops and monitors key performance indicators for product lines.
• Develops new health insurance and ancillary products.
• Develops, manages, and implements strategic product initiatives.
• Ensures products address market needs and achieve the overall business objectives.
• For new products, completes a feasibility analysis and business case; recommendation for the new product or opportunity; and a business plan, including a pro forma and financial projections; sales forecasts; an operational assessment; a marketing plan; and a high-level implementation plan.
• Introduces new products to market.
• Leads sales, marketing, broker relations and other internal departments in developing multi-channel product distribution strategies, ensures effective communication/promotional strategies, develops key messaging for products and key strategic market/regulatory issues, and produces product materials and sales collateral, etc.
• Directs the launch of new products and services.
• Evaluates new product opportunities, geographic/service area expansion, new market entry and potential strategic partnerships to meet growth objectives of Select Health.
• Ensures insurance market and product education to internal teams as well as brokers/agents, physicians, practice managers, current and potential employer customers, health system partners/affiliates and other constituent groups.
• Strategizes with existing or potential risk share partners to ensure mutually beneficial outcomes in strategic partnerships.
• Maintains partnership relationships and serves as the primary point of contact for relationship as assigned. Resolves significant concerns.
• Monitors national carrier and local competitor products, positioning, strategies, networks, as well as local and national industry trends. Identify emerging market trends.
• Conducts market research (multiple markets/geographies) and analysis; customer research; and concept testing for potential new product opportunities or service area expansions.
• Ensures customer research and market/competitive intelligence is utilized to ensure optimal product positioning.
• Develops affiliations and partnerships as necessary for new product and/or service opportunities.
• Reviews contracts, SLAs etc., to ensure appropriate execution of such by Select Health and contracted entities.

Benefits

• We care about your well-being – mind, body, and spirit – which is why we provide our caregivers a generous benefits package that covers a wide range of programs to foster a sustainable culture of wellness that encompasses living healthy, happy, secure, connected, and engaged.
• Learn more about our comprehensive benefits package here.
• Intermountain Health’s PEAK program supports caregivers in the pursuit of their education goals and career aspirations by providing up-front tuition coverage paid directly to the academic institution. The program offers 100+ learning options to choose from, including undergraduate studies, high school diplomas, and professional skills and certificates. Caregivers are eligible to participate in PEAK on day 1 of employment. Learn more.

What This Job Offers

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