Well

Director, Medical Cost Management

Chapel Hill, North Carolina, United States

$150,000 – $185,000Compensation
Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
Healthcare, Health InsuranceIndustries

Job Description

Position Overview

  • Location Type: Remote considered, Chapel Hill, NC; Newton, MA; New York, NY; Minneapolis, MN
  • Job Type: Full-time
  • Salary: $150,000-$185,000 (Director 2 - Senior Director 1), depending on qualifications, plus bonus potential and benefits

Well's mission is to transform healthcare through its unique impact on its members' health and happiness. This is achieved through a differentiated consumer experience and a world-class data and analytics engine that drive engagement and behavior change. The product is a consumer health engagement platform that integrates concierge services, behavioral health, telemedicine, care management, and wellness services to drive sustained engagement, lower costs, and improve member health.

Reporting To

  • Chief Operating Officer

Requirements

  • Experience: 10+ years of experience with medical and pharmacy cost-related work, ideally working with self-insured employers to identify and act on cost savings opportunities.
  • Actuarial Experience: Helpful but not required.
  • Data Analysis and Interpretation: Strong ability to analyze complex healthcare data (e.g., administrative claims data including CPT and ICD-10 codes, cost data) to identify cost-saving opportunities, trends, and areas for intervention.
  • Technical Proficiency: SQL, R, Python, Stata and data visualization software.
  • Strategic and Consultative Skills: Ability to develop and execute cost management strategies that align with organizational goals and address the specific needs of clients or member populations.
  • Communication and Presentation Skills: Excellent verbal and written communication skills.

Responsibilities

  • Own and finalize strategy for medical and pharmacy cost management.
  • Propose cost savings targets for Well on a client-by-client, population-by-population basis.
  • Utilize data to identify and design targeted interventions to achieve cost targets.
  • Collaborate with cross-functional colleagues (e.g., Member Services, Operations, Marketing, Clinical, etc.) to deploy cost interventions.
  • Serve as the spokesperson for external and internal communication/storytelling around cost management (for clients, growth prospects, internal/All Hands); support strategic cost conversations with clients and growth prospects.
  • Collaborate with and provide input to health outcomes & business intelligence teams on ROI, outcomes calculations, and cost savings forecasts/projections by client, including tracking and reporting on performance against savings goals over time.
  • Collaborate with and provide input to the Data Science team on cost benchmarking, risk prediction, and other cost-related models to consider building or using at Well.
  • Provide input to the Product team on the roadmap for cost savings-related features, Member Services staff (Well Guide) tools, etc.
  • Take personal responsibility for keeping all Well systems and data, including sensitive member data, secure and safe, according to Well data and security policies and HIPAA guidelines.

Company Information

  • Company: Well (https://www.well.co/)
  • Mission: To transform healthcare through its unique impact on members' health and happiness.
  • Product: A consumer health engagement platform integrating concierge services, behavioral health, telemedicine, care management, and wellness services.
  • Benefits: Generous benefits are available (details at https://www.well.co/careers).

Skills

Data Analysis
Cost Management
Medical Cost Management
Pharmacy Cost Management
Strategy
Stakeholder Communication
Data-Driven Decision Making

Well

Personalized health plans with financial incentives

About Well

Well.co provides personalized health improvement plans and financial incentives to individuals seeking to enhance their health and wellbeing. The process begins with a questionnaire that assesses each member's health needs and goals, allowing Well.co to create a tailored health plan that includes specific objectives, rewards, and encouragement based on individual behaviors. In addition to these plans, Well.co offers support services such as assistance with understanding medical bills, navigating the healthcare system, and scheduling appointments with local providers. A distinctive aspect of Well.co is its financial incentives, where members can earn gift cards from popular retailers for reaching their health goals, along with a sign-up bonus and ongoing challenges to maintain engagement. The company generates revenue by providing its services to both individuals and employers, making it an appealing option for companies aiming to promote employee wellbeing.

Chapel Hill, North CarolinaHeadquarters
2019Year Founded
$201.3MTotal Funding
GROWTH_EQUITY_VCCompany Stage
Social Impact, HealthcareIndustries
201-500Employees

Benefits

Hybrid work policy
PTO
Volunteer time off
Free coffee & snacks
Parental leave
Health, dental, & vision insurance
HSA & FSA
401k
Learning time off

Risks

Increased competition from new healthcare AI startups with similar reward systems.
Potential market saturation in the health and wellness app sector could dilute Well's value.
Privacy concerns and evolving data protection laws may lead to regulatory challenges.

Differentiation

Well offers personalized health plans with financial incentives for achieving health goals.
The company provides comprehensive support services, including healthcare navigation and appointment scheduling.
Well's AI-driven health engine analyzes health triggers for personalized health interventions.

Upsides

Well raised $70M in Series B funding, boosting its growth and development potential.
The integration of wearable technology enhances real-time health monitoring and personalized feedback.
Growing demand for mental health support services aligns with Well's comprehensive wellness offerings.

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