Devoted Health

Director, Medical Economics/Medical Expense Actuary

United States

Devoted Health Logo
Not SpecifiedCompensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
HealthcareIndustries

Requirements

Candidates should possess a strong background in healthcare economics, data analysis, and strategic planning, coupled with a deep understanding of healthcare delivery systems and reimbursement models. They should have prior experience in a public company setting, understanding how to identify and manage medical cost drivers effectively, and demonstrate skills of a Medical Expense Actuary with operational, financial planning, and corporate finance analytical expertise. A Bachelor’s degree in Actuarial Science, Economics, Finance, or a related field is required, along with a strong understanding of financial performance and accountability.

Responsibilities

The Director of Medical Economics will be responsible for driving P&L ownership for medical costs across the organization, leading a cross-functional process to identify, quantify, and track activities related to medical expenses and their impact on earnings. This includes developing and implementing cross-functional, strategic initiatives to improve medical cost and quality, such as provider reimbursement strategies and utilization management programs. The role involves conducting in-depth analyses of healthcare utilization patterns and cost drivers, collaborating closely with internal stakeholders to inform and drive key operational and strategic decisions, and linking medical expense management directly to overall financial performance.

Skills

Healthcare Economics
Data Analysis
Strategic Planning
Healthcare Delivery Systems
Reimbursement Models
Cost Optimization
Financial Performance Management

Devoted Health

Medicare Advantage plans with personalized support

About Devoted Health

Devoted Health provides Medicare Advantage plans aimed at simplifying and making healthcare more affordable for seniors aged 65 and older. Their plans include services like provider and pharmacy searches, prescription drug coverage, and preventive care rewards. Members pay premiums for these plans, and the company may also receive government payments for managing Medicare benefits. What sets Devoted Health apart from competitors is their high level of customer service, featuring Devoted Health Guides who assist members in navigating their healthcare options and addressing common issues with traditional insurance. Additionally, they promote preventive care through the Devoted Dollars program, which rewards members for engaging in health activities. The goal of Devoted Health is to create a more compassionate and accessible healthcare experience for its members.

Key Metrics

Waltham, MassachusettsHeadquarters
2017Year Founded
$2,194.5MTotal Funding
SERIES_ECompany Stage
HealthcareIndustries
1,001-5,000Employees

Benefits

Comprehensive health plan
401(k) retirement plan
Generous vacation and holiday time
Lyra mental health resources
Time off to vote

Risks

Increased competition from Medicare Advantage providers like Clover Health and Oscar Health.
Potential regulatory changes affecting Medicare Advantage plans by CMS.
Rising healthcare costs could impact the affordability of Devoted Health's plans.

Differentiation

Devoted Health offers personalized assistance through Devoted Health Guides for member support.
The company emphasizes preventive care with its Devoted Dollars rewards program.
Devoted Health integrates virtual and in-home care with top local providers.

Upsides

Devoted Health raised $287 million in Series E funding in 2024.
The company expanded Medicare Advantage plans to eight new states in 2023.
Devoted Health achieved a 5-star Medicare Advantage rating in Ohio in 2023.

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