Sanford Health is one of the largest and fastest-growing not-for-profit health systems in the United States. We're proud to offer many development and advancement opportunities to our nearly 50,000 members of the Sanford Family who are dedicated to the work of health and healing across our broad footprint.
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Facility: Cherapa Place Building
Location: Sioux Falls, SD
Address: 300 N Cherapa Pl, Sioux Falls, SD 57103, USA
Shift: 8 Hours - Day Shifts
Job Schedule: Full time
Weekly Hours: 40.00
Sanford Health Plan is in search of a Commercial Lines Product Manager to join our company. This role will be responsible for leading product development and maintenance for the assigned commercial products including large & small group, self-funded, and individual products. The Product Manager will work closely with data analytics teams, actuarial services, underwriting, sales, service areas, and company leadership to identify and drive product initiatives.
The ideal candidate would have a strong background in health insurance products with a focus in sales or product development. Responsibilities will include:
•Manage PLC of commercial product lines to ensure strategic objectives are met.
•Identify opportunities and threats to product performance and make recommendations related to benefits and pricing to address concerns.
•Work with actuarial services in rate review process and underwriting when necessary.
•Oversee filing and implementation of products to ensure compliance with statutory and regulatory requirements.
•Work cross-functionally to develop and execute product management methodologies, governance, guidelines and standards. Manage product release lifecycle from development to marketing. Work with manager and Performance Excellence to ensure product feasibility through design and construct process to ensure synchronization between requirements and product features as well as operational engagement.
Participates and leads cross-functional teams of personnel on routine and entry-level scope activities that support Product Lifecycle goals, activities, processes and programs. Authors product marketing collateral and tools highlighting new product features and benefits. Initiates revisions to program policies and procedures when needed to adjust for regulatory changes or best practices. Evaluates and incorporates updates and information relating to all lifecycle management activities including, product performance and tracking and reporting, product performance and evaluation, product enhancement planning, and product retirement. Participates and contributes in product development for assigned LOBs. The product manager may recommend opportunities for new markets, products, services, and other strategic priorities for the organization.
Responsible for leading stakeholder engagement throughout the lifecycle process including identifying stakeholders, establishing regular updates, opportunities for discussion, and preparation for lifecycle review meetings with executive leaders and/or governance bodies.
Provide subject matter expertise in in Product Development discussions. Effectively works with clinical, operational, and financial staff to develop innovative ways to make quality information more transparent to consumers to actively use in their healthcare decision processes. Serves as principal Health Plan expert and go-to person on regulations and business rules for assigned LOBs. Partners with leadership and management in analyzing utilization and medical trends to forecast financial and utilization patterns in order to maximize sales and retention opportunities. Collaborates with management, analytical, and operational staff and other key internal stakeholders such as Provider Relations, Finance, Pharmacy, Customer Service, Billing and Enrollment, Medical Management, etc), to develop timely action plans to achieve developed strategic goals and maintain regulatory compliance.
Responsible for introduction of new large group products to market. Works with sales, marketing, broker relations, and other internal departments to develop multi-channel product distribution strategies, ensure effective communication/promotional strategies, develop key messaging for products and key strategic market/regulatory issues, and procedure product materials and sales collateral, etc. Responsible for assisting Sales with broker training.
Understands new legislation and regulations and the associated impact to product viability. Identifies opportunities, challenges, and solutions for impacted business segments. Works with internal compliance and legal departments to ensure compliance of all product offerings. For applicable products, works with regulators to ensure compliance with regulations, submission/filing, and reporting requirements are met. Educates, collaborates, and communicates with Health Plan departments to ensure understanding of Health Plan strategic position and ensure effective integration of product strategies with system strategies and initiatives. Integrates multiple complex business cases into a Product Management portfolio plan or agenda for the given market segment and makes recommendations on a series of actions necessary to achieve the correct product mix to meet customer needs.
Bachelor’s degree in business, sales, or related field required. In lieu of a degree seven (7) years’ experience in a directly related field may be considered.
Minimum three years’ experience in health insurance, health plan administration, health care, benefit administration, or benefit policy experience.
Sanford Health offers an attractive benefits package for qualifying full-time and part-time employees. Depending on eligibility, a variety of benefits include health insurance, dental insurance, vision insurance, life insurance, a 401(k) retirement plan, work/life balance benefits, sick leave and paid time off. To review your benefit eligibility, visit https://sanfordhealth.jobs/benefits .
Sanford is an EEO/AA Employer M/F/Disability/Vet. If you are an individual with a disability and would like to request an accommodation for help with your online application, please call 1-877-673-0854 or send an email to email@example.com .
Sanford Health has a Drug Free Workplace Policy. An accepted offer will require a drug screen and pre-employment background screening as a condition of employment.
Job Function: Health Plan
Req Number: R-50592