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Payment Innovation Director II

Anticipated End Date:

2025-04-12

Position Title:

Payment Innovation Director II

Job Description:

Payment Innovation Director II

Location:  Alternate locations may be considered. This position will work a hybrid model (remote and office). Must live within 50 miles/1 hour commute of an Elevance Health location.  

The Payment Innovation Director II is responsible for negotiating value-based contracts with strategic provider partners. Plans, manages, and implements strategy for value-based program expansion in a market across all lines of business.

How you will make an impact:

  • Drives the execution of payment innovation strategies.
  • Performs complex market and competitive analysis, engages provider technical and clinical teams and cross functional teams, collects business requirements, creates Value Based Payment concepts, writes High Level Business requirements documents, creates business case and ROI analysis.
  • Creates and initiates business solution development, works with other business partners to guide and support solution development, pilot and solution launch activities, and develops and strategic roadmaps that drive business solutions.
  • Develops and designs processes and systems that support business needs.
  • Translates complex information and coordinates the communication and implementation of key decisions and accomplishments.
  • Manages special projects/initiatives.
  • Represents the company in external meetings.

Minimum Qualifications:

  • BA/BS in business or related field and a minimum of 12 years of experience in healthcare systems, including contracting and provider relations and 8 years of experience in a strategy role; or any combination of education and experience, which would provide an equivalent background.

Preferred Skills, Capabilities and Experiences:

  • Experience with fully delegated risk contracting strongly preferred.
  • MBA degree
  • Previous experience leading design and execution of Value-Based Payment Models preferred strongly preferred.

Job Level:

Director Equivalent

Workshift:

Job Family:

PND > Value Based Solutions

Please be advised that Elevance Health only accepts resumes for compensation from agencies that have a signed agreement with Elevance Health. Any unsolicited resumes, including those submitted to hiring managers, are deemed to be the property of Elevance Health.

Who We Are

Elevance Health is a health company dedicated to improving lives and communities – and making healthcare simpler. We are a Fortune 25 company with a longstanding history in the healthcare industry, looking for leaders at all levels of the organization who are passionate about making an impact on our members and the communities we serve.

How We Work

At Elevance Health, we are creating a culture that is designed to advance our strategy but will also lead to personal and professional growth for our associates. Our values and behaviors are the root of our culture. They are how we achieve our strategy, power our business outcomes and drive our shared success - for our consumers, our associates, our communities and our business.

We offer a range of market-competitive total rewards that include merit increases, paid holidays, Paid Time Off, and incentive bonus programs (unless covered by a collective bargaining agreement), medical, dental, vision, short and long term disability benefits, 401(k) +match, stock purchase plan, life insurance, wellness programs and financial education resources, to name a few.

Elevance Health operates in a Hybrid Workforce Strategy. Unless specified as primarily virtual by the hiring manager, associates are required to work at an Elevance Health location at least once per week, and potentially several times per week. Specific requirements and expectations for time onsite will be discussed as part of the hiring process. Candidates must reside within 50 miles or 1-hour commute each way of a relevant Elevance Health location.

The health of our associates and communities is a top priority for Elevance Health. We require all new candidates in certain patient/member-facing roles to become vaccinated against COVID-19 and Influenza. If you are not vaccinated, your offer will be rescinded unless you provide an acceptable explanation. Elevance Health will also follow all relevant federal, state and local laws.

Elevance Health is an Equal Employment Opportunity employer, and all qualified applicants will receive consideration for employment without regard to age, citizenship status, color, creed, disability, ethnicity, genetic information, gender (including gender identity and gender expression), marital status, national origin, race, religion, sex, sexual orientation, veteran status or any other status or condition protected by applicable federal, state, or local laws. Applicants who require accommodation to participate in the job application process may contact elevancehealthjobssupport@elevancehealth.com for assistance. Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws, including, but not limited to, the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act.

Average salary estimate

$135000 / YEARLY (est.)
min
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$120000K
$150000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Payment Innovation Director II, elevancehealth

Are you ready to take your career to the next level as a Payment Innovation Director II at Elevance Health? Located in the heart of Indianapolis, this role offers the perfect blend of remote and office work, allowing you to benefit from a hybrid model. In this exciting position, you'll be responsible for negotiating value-based contracts with strategic provider partners. Your strategic mindset will shine as you plan, manage, and implement innovative payment solutions across varied business lines. You'll drive the execution of groundbreaking strategies, conduct in-depth market analyses, and work collaboratively with provider and clinical teams to create compelling Value Based Payment concepts. Your expertise will guide the entire lifecycle of business solution development, shaping critical roadmaps that align with Elevance Health's mission of simplifying healthcare. With a minimum of 12 years of experience in healthcare systems, including contracting and strategy roles, you’ll be instrumental in transforming complex information into practical, actionable solutions. Elevance Health values professionals who not only bring their skills but also their passion for improving lives and communities. If you're ready to represent a Fortune 25 company committed to making a real impact, then we want to hear from you! We offer competitive total rewards, focusing on your growth and wellbeing, while fostering a culture aligned with your personal and professional development.

Frequently Asked Questions (FAQs) for Payment Innovation Director II Role at elevancehealth
What are the responsibilities of a Payment Innovation Director II at Elevance Health?

As a Payment Innovation Director II at Elevance Health, your main responsibilities include negotiating value-based contracts, driving execution of payment innovation strategies, and conducting market analyses. You'll engage with provider teams, develop Value Based Payment concepts, and manage the implementation of strategic business solutions.

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What qualifications do I need to become a Payment Innovation Director II at Elevance Health?

To apply for the Payment Innovation Director II role at Elevance Health, candidates are expected to have a BA/BS degree in business or a related field, with at least 12 years of experience in healthcare systems and 8 years in a strategy role. Experience with fully delegated risk contracting and an MBA are preferred.

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How does the hybrid work model function for the Payment Innovation Director II at Elevance Health?

The Payment Innovation Director II position operates on a hybrid work model, allowing you to work both remotely and in the office. It is required to live within 50 miles of an Elevance Health location, as associates need to be in-office at least once per week, depending on specific needs discussed during the hiring process.

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What skills are important for a Payment Innovation Director II at Elevance Health?

Key skills for the Payment Innovation Director II at Elevance Health include strong analytical capabilities for market assessments, excellent communication skills to coordinate with teams, and expertise in developing strategic roadmaps. Experience with Value-Based Payment Models and risk contracting is also highly valued.

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What is the work culture like at Elevance Health for a Payment Innovation Director II?

Elevance Health fosters a culture focused on advancing strategies while supporting personal and professional growth. As a Payment Innovation Director II, you will be part of a collaborative environment committed to improving lives and creating a meaningful impact within healthcare.

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Common Interview Questions for Payment Innovation Director II
What experience do you have with value-based payment models?

When answering this question, discuss any previous roles where you designed or executed value-based payment models. Highlight specific projects, strategies, and results achieved, emphasizing how you navigated challenges and collaborated with stakeholders.

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Can you describe a situation where you had to negotiate a complex contract?

In response, provide an example from your past where you successfully negotiated a complex contract, detailing your approach, what challenges you faced, and the ultimate outcome. Focus on your negotiation skills and relationship-building with partners.

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How do you conduct market analysis to inform payment innovation strategies?

Explain your approach to conducting comprehensive market analysis by describing the tools and methodologies you employ. Discuss the importance of understanding market trends, competition, and provider needs in shaping effective strategies.

Join Rise to see the full answer
What strategies do you use to manage cross-functional teams?

Discuss your experience leading cross-functional teams, focusing on your communication methods and how you facilitate collaboration. Emphasize the importance of inclusivity and transparency in project management.

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How do you stay updated on changes in healthcare regulations affecting payment models?

Share the resources and methods you utilize to stay informed about healthcare regulations, such as industry publications, webinars, and networking with other professionals. Mention how you integrate this knowledge into your strategic planning.

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Describe your experience with risk contracting in healthcare.

Provide a comprehensive overview of your experience with risk contracting, detailing specific projects where you implemented risk-based models. Discuss the challenges faced and strategies used to overcome them, along with the results achieved.

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How do you measure the success of payment innovation initiatives?

Explain the metrics you consider critical for measuring the success of payment innovations, such as financial outcomes, provider satisfaction, and patient engagement. Discuss any tools or systems you utilize for tracking these metrics.

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What are some common barriers to implementing value-based payment models?

Discuss specific barriers you’ve encountered, such as resistance from stakeholders or challenges in data sharing, and outline your strategies for overcoming these obstacles. Highlight your ability to advocate for innovative solutions.

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Can you share an example of a successful project you've led in healthcare?

Provide a detailed example of a notable project in healthcare that illustrates your leadership skills and strategic thinking. Focus on your role, the project objectives, and the impacts that were achieved.

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Why do you want to work as a Payment Innovation Director II at Elevance Health?

Articulate your passion for improving healthcare and how Elevance Health’s mission aligns with your values. Highlight specific aspects of the role that excite you, emphasizing your commitment to driving meaningful change.

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DATE POSTED
April 3, 2025

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