Sr Mgr, Medical Economics
CVS HealthAbout the role
Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to every moment of your health. This purpose guides our commitment to deliver enhanced human-centric health care for a rapidly changing world. Anchored in our brand — with heart at its center — our purpose sends a personal message that how we deliver our services is just as important as what we deliver.
Our Heart At Work Behaviors™ support this purpose. We want everyone who works at CVS Health to feel empowered by the role they play in transforming our culture and accelerating our ability to innovate and deliver solutions to make health care more personal, convenient and affordable.
Position Summary
As a Manager, Medical Economics, Medical Expense Review, you will define, develop and provide information and analysis to drive the decision making process for internal leadership related to Medical Economics - Medical Expense Review (MER) across assigned Medicaid Plans. The primary goal of this team is to provide accurate, relevant data and analysis for utilization and unit cost management to support each Plan in controlling medical costs and driving a targeted financial strategy.
• Align with senior Local Plan and Medical Economics leaders to monitor performance to Medical Cost Savings Targets, as well ensure analytics are supporting Plan strategy and financial targets.
• Present recommendations to management based on analysis.
• Manage the consistent production and analysis of medical cost trend results used to formulate effective network contracting and utilization management strategies.
• Work with Operations to ensure payment accuracy and recovery projects based on specific claims outlier and trend findings.
• Manage a team of Senior Consultants/Consultants to ensure medical cost opportunities are being identified for the assigned Plans.
Required Qualifications
Knowledge of:
• Knowledge of the healthcare industry and analytics
• Understanding of internal and external database applications.
• Familiarity with managed care functions including provider contracting, benefit design, medical management, knowledge of business functions and impact on financials (underwriting, sales, product development, network management)
Skill In:
• Advanced communication/presentation skills.
• Healthcare analysis
• Managed care contracting
• Working with large datasets
Ability To:
• Lead team members in proactive analysis/research around utilization and unit cost medical costs drivers for the assigned Medicaid Plans.
• Lead and manage a team of colleagues with diverse skills to work collaboratively across departments in a highly matrixed organization to communicate potential opportunities to mitigate trend divers
• Ideate and utilize analytical models to determine the savings opportunities to mitigate medical cost drivers. Working across Plan leaders to understand their savings initiatives to determine if initiatives can be shared across other Plans
• Lead discussions and presentations with the Plan leadership and National leadership about medical cost drivers and mitigating cost opportunities. Facilitate/host discussions to discuss the medical cost drivers with Plan leadership to act on the drivers: Plan CEO, Plan CFO, Market Clinical Leads, Actuarial, Chief Network Officer, Operations
• Work in a matrixed cross-functional organization to help achieve operational targets
• Perform complex functions in Excel, MS-Access, and Web-based query tools (MCM, data warehouse).
• Demonstrate innovation and leadership in achieving results
• Demonstrates critical thinking and expresses ideas clearly, concisely and logically from a cross functional perspective.
• Ability to manage conflicting priorities and multiple projects concurrently
• Develops standards and best practices for MER team.
Preferred Qualifications
Knowledge of:
• Advanced analytical tools – SAS, SAS Enterprise Guide experience
• Contract payment terms and relationship to claims payment
Skill in:
• Strong analytical ability and familiarity with advanced financial and healthcare concepts
• Advanced college degree at the Masters level
Ability To:
• Develop analytical tools and models
Education
Bachelors degree required
5-8 years of relevant work experience related to healthcare claims analytics or financial analysis and data modeling.
**Role is in office Tuesday - Thursday if candidate is located near hub location**
Pay Range
The typical pay range for this role is:
$75,400.00 - $182,549.40
This pay ran
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