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Healthcare Pricing Analyst

Company Description

PG Forsta is the leading experience measurement, data analytics, and insights provider for complex industries—a status we earned over decades of deep partnership with clients to help them understand and meet the needs of their key stakeholders. Our earliest roots are in U.S. healthcare –perhaps the most complex of all industries. Today we serve clients around the globe in every industry to help them improve the Human Experiences at the heart of their business. We serve our clients through an unparalleled offering that combines technology, data, and expertise to enable them to pinpoint and prioritize opportunities, accelerate improvement efforts and build lifetime loyalty among their customers and employees.

Like all great companies, our success is a function of our people and our culture. Our employees have world-class talent, a collaborative work ethic, and a passion for the work that have earned us trusted advisor status among the world’s most recognized brands. As a member of the team, you will help us create value for our clients, you will make us better through your contribution to the work and your voice in the process. Ours is a path of learning and continuous improvement; team efforts chart the course for corporate success.

Our Mission:

We empower organizations to deliver the best experiences. With industry expertise and technology, we turn data into insights that drive innovation and action. 

Our Values:

To put Human Experience at the heart of organizations so every person can be seen and understood. 

  • Energize the customer relationship: Our clients are our partners. We make their goals our own, working side by side to turn challenges into solutions. 
  • Success starts with me: Personal ownership fuels collective success. We each play our part and empower our teammates to do the same. 
  • Commit to learning: Every win is a springboard. Every hurdle is a lesson. We use each experience as an opportunity to grow. 
  • Dare to innovate: We challenge the status quo with creativity and innovation as our true north. 
  • Better together: We check our egos at the door. We work together, so we win together. 

Job Description

Press Ganey stands at the forefront of healthcare analytics, empowering healthcare providers with insights to deliver outstanding patient care. With a team of 3,000 dedicated professionals, we are driven by our core values of partnership, innovation, and service, inspiring us to strive for excellence. Our commitment to advancing healthcare through innovative data solutions positions us as leaders in our field. 

This is a Hybrid role and you will be expected to be in the office Tuesday-Thursday  

Role Summary:  

The Healthcare Market and Pricing Analyst will play a critical role in shaping the pricing strategies for our healthcare software portfolio. This role requires a blend of market research expertise, competitive analysis, and pricing strategy to drive revenue growth and profitability. You will leverage your analytical skills to assess market opportunities, define go-to-market strategies, and establish effective pricing structures. This strategic role involves close collaboration with cross-functional teams, providing insights that influence both product and pricing decisions in a dynamic market environment. 

Key Responsibilities: 

  • Conduct comprehensive market analysis, including market sizing (TAM, SAM, SOM), industry trend analysis, and competitive assessments to support strategic decision-making. 

  • Conduct in-depth pricing analyses, standardize and set pricing structures and strategies for the healthcare software portfolio for new and existing products and services. 

  • Partner with Product, Finance, and Growth teams to prioritize new product development, utilizing market research and sizing analyses to identify growth opportunities across regions, industries, and customer segments. 

  • Build and maintain financial models to simulate pricing scenarios, assess market penetration strategies, and forecast revenue impacts. 

  •  Analyze competitive pricing practices and market positioning to refine pricing frameworks and stay ahead of industry trends. 

  • Provide strategic input during product launches, pricing promotions, and go-to-market initiatives, aligning pricing strategies with broader market insights. 

  • Effectively communicate complex pricing and market analysis to stakeholders at all levels, using data-driven insights to inform strategic decisions. 

  • Collaborate with cross-functional teams, including Sales, Finance, and Marketing, to implement and monitor pricing strategies, ensuring alignment with business goals. 

Qualifications

  • 6+ years of experience in pricing analysis, market analysis, or a related role, including 3+ years of experience in SaaS pricing or market strategy. Experience in the healthcare industry is a plus but not required. 

  • Bachelor's degree in business administration, economics, finance, marketing, mathematics, or a related field. MBA preferred but not required with relevant professional experience. 

  • Proficiency in Microsoft Excel, Salesforce, Workday, PowerBI, and other analytical tools. 

  • Proven ability to conduct market sizing, develop pricing strategies, and deliver measurable business results. 

  • Strong analytical and problem-solving skills with a track record of influencing business decisions. 

Additional Information

Don’t meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At Forsta we are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.

Press Ganey Associates LLC is an Equal Employment Opportunity/Affirmative Action employer and well committed to a diverse workforce. We do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, veteran status, and basis of disability or any other federal, state or local protected class. 

Pay Transparency Non-Discrimination Notice – Press Ganey will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 

The expected base salary for this position ranges from $125,000-$140,000. It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, licensure or certifications obtained. Market and organizational factors are also considered. In addition to base salary and a competitive benefits package, successful candidates are eligible to receive a discretionary bonus or commission tied to achieved results.  

All your information will be kept confidential according to EEO guidelines.

Our privacy policy can be found here: https://www.pressganey.com/legal-privacy/ 

Average salary estimate

$132500 / YEARLY (est.)
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$125000K
$140000K

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What You Should Know About Healthcare Pricing Analyst, Press Ganey

As a Healthcare Pricing Analyst with Forsta in Chicago, IL, you’ll be stepping into an exciting role that blends analytical prowess with strategic thinking. Forsta is a leader in experience measurement and healthcare analytics, dedicated to empowering organizations with insights that drive innovation and enhance patient care. In this position, your focus will revolve around shaping the pricing strategies that underpin our healthcare software offerings. You'll conduct in-depth market analyses to evaluate opportunities and set innovative pricing structures, working closely with cross-functional teams like Product, Finance, and Growth. Your role will not only involve crunching numbers and interpreting market trends but also presenting your findings to stakeholders, influencing product development and pricing decisions significantly. If you thrive in a dynamic environment and enjoy collaborating to create compelling solutions, this is the place for you. You'll also have a chance to grow with our culture of continuous improvement and personal ownership. So get ready to leverage your expertise in market research, competitive analysis, and pricing strategy while making a meaningful impact in the healthcare industry!

Frequently Asked Questions (FAQs) for Healthcare Pricing Analyst Role at Press Ganey
What does a Healthcare Pricing Analyst do at Forsta?

A Healthcare Pricing Analyst at Forsta plays a pivotal role in shaping pricing strategies for healthcare software. They conduct extensive market analysis, establish pricing structures, and collaborate with various teams to support product and pricing decisions.

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What qualifications do I need for the Healthcare Pricing Analyst position at Forsta?

To succeed as a Healthcare Pricing Analyst at Forsta, you’ll need at least 6 years of experience in pricing or market analysis, with strong analytical skills and proficiency in tools like Microsoft Excel. A Bachelor's degree in a relevant field is required, and an MBA is preferred.

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Is healthcare experience necessary for the Healthcare Pricing Analyst role at Forsta?

While experience in the healthcare industry does provide an advantage, it is not a strict requirement for the Healthcare Pricing Analyst position at Forsta. The role values strong analytical skills and experience in pricing strategies regardless of sector.

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What is the salary range for a Healthcare Pricing Analyst at Forsta?

The expected base salary for a Healthcare Pricing Analyst at Forsta ranges from $125,000 to $140,000, depending on factors such as skills, experience, and education. In addition, there are opportunities for bonuses based on performance.

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What skills are essential for the Healthcare Pricing Analyst role at Forsta?

Essential skills for the Healthcare Pricing Analyst role at Forsta include strong analytical capabilities, proficiency in market research and pricing strategies, and familiarity with analytical tools like Salesforce and PowerBI.

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What type of work environment can I expect as a Healthcare Pricing Analyst at Forsta?

As a Healthcare Pricing Analyst at Forsta, you can expect a hybrid work environment, with required office days from Tuesday to Thursday, promoting collaboration while also allowing for flexibility.

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How does Forsta support diversity and inclusion in the workplace for a Healthcare Pricing Analyst?

Forsta is committed to fostering a diverse and inclusive workplace for all employees, including Healthcare Pricing Analysts. The company encourages individuals from various backgrounds to apply, even if they do not meet every qualification in the job description.

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Common Interview Questions for Healthcare Pricing Analyst
How do you conduct a market analysis for pricing strategies?

When conducting a market analysis for pricing strategies, describe your approach in assessing TAM, SAM, and SOM metrics, researching industry trends, and analyzing competitive pricing to define opportunities for revenue growth.

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Can you explain how you build financial models for pricing scenarios?

In your response, outline the process you follow to create financial models, focusing on how you simulate different pricing scenarios, forecast revenue impacts, and adjust assumptions based on market research findings.

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What role does teamwork play in your pricing analysis?

Discuss how you collaborate with cross-functional teams—like Product, Finance, and Sales—in developing pricing strategies, and how effective communication helps you influence decisions positively.

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How do you stay updated with industry pricing trends?

Mention the various resources you utilize to stay informed about industry pricing trends, such as research reports, competitor analysis, and professional networks that provide insights into market dynamics.

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What challenges have you faced when establishing pricing strategies?

Reflect on past challenges you've encountered in pricing analysis, such as resistance from stakeholders or market fluctuations, and elaborate on how you overcame these challenges through data-driven insights.

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Describe a time you influenced pricing decisions successfully.

Provide a specific example where your analysis led to a positive pricing decision, detailing the data you presented and how it swayed the team's perspective towards implementing your recommendations.

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How do you prioritize product development based on market analysis?

Explain how you assess market opportunities to prioritize product development initiatives, focusing on criteria like potential revenue impact and alignment with broader business goals.

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What analytical tools are you proficient in for pricing analysis?

List the analytical tools you are skilled in, like Microsoft Excel and PowerBI, and explain how you've applied them in your previous roles to derive actionable insights for pricing strategies.

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How do you communicate complex pricing data to stakeholders?

Discuss your approach to breaking down intricate pricing data into accessible information for stakeholders, using visual aids and clear narratives that resonate with different audience levels.

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What is your approach to competitive pricing analysis?

Detail your methodology for conducting competitive pricing analysis, including how you gather data on competitors’ pricing structures and how this information informs your own pricing strategies.

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Full-time, hybrid
DATE POSTED
November 26, 2024

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