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Senior Director, Head of Payor Strategy
3 months ago
Senior Director, Head of Payor Strategy
Reporting to the Chief Commercial Officer (CCO), the Head of Commercial Payor Strategy & Business Development plays a pivotal role in driving the expansion of Best Buy Health's market presence by developing and executing comprehensive strategies to secure partnerships with commercial health insurance plans and government payors. This multifaceted role requires a dynamic leader with deep industry expertise in commercial insurance markets, strong relationship-building skills, and strategic vision to optimize access and reimbursement for Best Buy Health’s products.
What you’ll do
1. Strategic Partnerships:
- Develop and implement a robust business development strategy to engage with national and regional commercial health plans and government payers.
- Cultivate and nurture relationships with key decision-makers within payer organizations, positioning Best Buy Health’s products through economic and value-driven solutions.
- Negotiate contract terms, pricing, and service-level agreements to establish mutually beneficial partnerships and secure coverage for Best Buy Health’s products.
2. Market Access & Reimbursement:
- Assess the current access and reimbursement landscape for Best Buy Health’s products, devising near and long-term strategies to achieve market penetration goals.
- Collaborate with internal stakeholders, including sales, marketing, finance, and clinical teams, to develop and implement corporate strategies to drive commercial success within the evolving healthcare system.
- Drive negotiations with CMS and commercial payers to ensure favorable coverage and payment levels for Best Buy Health’s products across all sites of care.
3. Cross-Functional Collaboration:
- Work closely with Sales & Marketing leadership and other strategic partners to align on product positioning, messaging, and go-to-market strategies.
- Manage existing and future contract compliance with customers, ensuring adherence to agreed-upon terms and conditions.
4. Market Analysis & Communication:
- Conduct market analysis, gather competitive intelligence, and monitor partnership performance to inform strategic decision-making and business planning.
- Represent Best Buy Health at industry events, conferences, and meetings to raise awareness, identify opportunities, and maintain a strong market presence.
- Accelerate a strong brand voice through innovative communication tactics (ex: panels, webinars, podcasts thought-leadership content), via collaboration with Best Buy Health Marketing in-order to establish a leading brand and product suite across the Payer and broader Healthcare ecosystem.
Minimum Qualifications:
- 10+ years of progressive experience in business development, strategic partnerships, and market access.
- 10+ years of experience within the commercial insurance and government payor space.
Preferred Qualifications:
- Bachelor’s degree required; advanced degree in business, healthcare administration, or related field preferred.
- Proven track record of identifying, cultivating, and closing high-value partnerships with commercial health plans and government payers.
- Strong understanding of commercial insurance products, reimbursement models, and regulatory requirements.
- Outstanding communication, negotiation, and relationship-building skills, with the ability to engage effectively with C-level executives.
- Highly organized, detail-oriented, and capable of managing multiple projects simultaneously in a fast-paced environment.
Best Buy Health is an Affirmative Action and Equal Opportunity Employer dedicated to creating an inclusive environment that values the diversity of its employees and does not discriminate against any employee or applicant. Best Buy Health is committed to equal employment opportunity for all applicants and employees, without regard to race, color, religion, sex, national origin, age, disability, marital status, veteran status, sexual orientation, gender identity, genetic information, or any other protected characteristic under applicable law. Learn more about our Affirmative Action Policy Statement HERE
Reasonable Accommodation
Best Buy Health will make reasonable accommodations for employees and applicants for their religious beliefs and practices, mental or physical disabilities, and pregnancy, childbirth, and related conditions. If you need a reasonable accommodation in the application process; to access job postings, to apply for a job, for a job interview, for pre-employment testing, or with the onboarding process, please contact Talent Acquisition at talent.acquisition@bestbuy.com.
Learn more about: Online “Know Your Rights” Posting and Pay Transparency Nondiscrimination Provision HERE
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