Mount Sinai Careers
Product Manager, Insurance Products – Mount Sinai Health Partners
Mount Sinai is one of the largest health systems in the U.S. with a strong reputation for quality of care (18th ranked academic medical center) and research/education (18th ranked medical school). We have ~40,000 employees working together each year to provide billions of dollars in high-quality care for millions of patients.
We are accelerating a transition to a business model focused on population health and customer value. Mount Sinai Health Partners (MSHP) is the team driving this transformation within Mount Sinai, 400+ people with expertise in clinical, contracting, finance, IT, analytics, operations, and product development. MSHP is a fast growing business unit within Mount Sinai and is looking for team members who:
· Are comfortable playing “up” and “down” as needed to accomplish business objectives
· Work productively amidst ambiguity
· Thrive in fast-paced work environment
· Seek to improve the status quo
· Are passionate about developing a true system of care
Within MSHP, the Commercialization Team was created to assemble Mount Sinai's clinical and population health assets into product offerings (e.g., care bundles, worksite health centers, insurance products in partnership with health plans), and sell them to individuals and employers via multiple channels . We are looking for talented professionals to join this team with experience in strategy, product management, operations, sales and account management.
Each of these new product offerings will have important population health features including: (1) value-based pricing (2) a curated network of high-value physicians (3) optimized care pathways and related programs, and (4) an enhanced patient experience. For worksite health centers, MSHP builds a primary and urgent care practice right at the employer’s worksite with a value-based financial model that enables the clinician to spend more time with the patient. For care bundles, MSHP accepts a fixed-price for an episode of care provided by a curated network of high-value physicians with new care pathways to ensure holistic and consistent care. For insurance products, MSHP partners with like-minded insurers to wrap a health plan around our clinically-integrated network of physicians, hospitals, and other providers. The goal of each product is to increase the value for employers and their employees, mitigating the effects of the affordability crisis.
MSHP. MSHP has partnerships with payers to market insurance products to employers and individuals in the Commercial and Medicare Advantage segments in the New York metro market. These insurance products are centered on Mount Sinai’s clinically-integrated network of physicians & hospitals, provider partners and differentiated by a price point that is ~10-15% less than market rates, an underlying risk contract that reduces cost trends and improves clinical outcomes, and an enhanced service model that ensures the best consumer net promoter score. The Product Manager, Insurance Products will guide MSHP decisions on the strategy, development and commercialization of our insurance products with these health plan partners. The Product Manager is a highly visible role with significant opportunities to engage with executive leaders of Mount Sinai, of health plan partners, market leading health systems and of key market stakeholders (e.g. brokers, customers) from across the region and the U.S.seeks a Product Manager to drive the Insurance Product work efforts
· Lead activities related to commercializing products including the execution of strategy for pricing, selling and marketing our products including sales support and a governance process for customer pricing and contracting. Work collaboratively with health plan partners to develop annual pricing strategy that achieves financial objectives.
· Lead the development of new product features, reducing high-level ideas to detailed designs use cases and requirements. Partner with technology and operations teams throughout Mount Sinai and potentially external partners to develop the products on budget and on time in an agile software and service development process.
Product Development – Performance Network
· Lead the identification and organization of a collaboration of leading health systems to develop an efficient network of physicians and hospitals that are committed to improving outcomes in an at-risk model. Work with the partners to operationalize the performance network ensuring a coordinated solution and oversee the governance process for managing partners and achieving desired results.
Product Business Cases
· Analyze market intelligence to develop and continuously update business cases for each product category. Each case will include a financial forecast of revenue and contribution margin and recommend actions including: sizing investments required for and viability of new product launches, prioritizing product investment decisions, and build/buy/partner decisions.
· Lead the monitoring of product performance via measuring and analyzing of key outcome metrics during product pilots and general usage, developing information-driven recommendations for new product features and product re-positioning.
Market Intelligence Research
· Lead ongoing positioning of products via thorough ongoing research of the addressable market, competitor offerings, and government regulations. Such research will include focus groups and surveys with employers and consumers, as well as analysis of third-party data. Data obtained from these sources will be analyzed to size and characterize customer needs, competitor strengths and weakness to identify and quantify risks and opportunities.
Education and Experience
· Bachelor’s Degree; MBA preferred
· Minimum of 5+ years of professional experience in the health care industry
· Prefer candidates with experience in management consulting and/or leading health plans
· Experience developing market research and business cases for new strategies or products
· Experience in a fast paced, corporate environment
Additional Skills and Qualities
· Expertise in quantitative analysis using Microsoft Excel required
· Experience with SQL, Access or Tableau to analyze large data sets preferred
· Expertise in using Microsoft PowerPoint in developing presentations
· Passion for health care as evidenced by academic or personal pursuits and professional experience