Manager of Payor Contracting

The Manager of Payor Contracting at SonderMind is responsible for developing and enhancing relationships with payors nationwide. Key responsibilities include leading negotiations with payors, analyzing complex data for negotiation strategies, and collaborating with various internal teams to ensure seamless contract execution. The role demands a proactive approach to securing advantageous reimbursement and maintaining clear communication with payors.

To qualify for the Manager of Payor Contracting role at SonderMind, candidates should possess a BA/BS in Business Administration, Healthcare Administration, or a related field. Additionally, a minimum of five years of experience negotiating payor and/or provider agreements, alongside a solid understanding of managed care laws, particularly in behavioral health, is crucial. Strong negotiation and interpersonal skills are also essential for success in this dynamic position.

SonderMind supports its Manager of Payor Contracting by providing a collaborative environment where the individual can work closely with various internal teams, such as Revenue Cycle and Finance. Ongoing training and access to innovative tools will aid in developing effective contract negotiation strategies, ultimately aligning with the company’s financial goals and enhancing overall outcomes in mental healthcare.

A typical day for the Manager of Payor Contracting at SonderMind includes analyzing market dynamics, negotiating agreements with payors, and reviewing contract language. You'll spend time collaborating with other teams, building relationships with payor representatives, and preparing materials for presentations. The role requires a blend of strategic thinking, technical analysis, and relationship management, ensuring that every day brings new challenges and opportunities.

SonderMind offers a comprehensive benefits package to its Manager of Payor Contracting, which includes a competitive salary, unlimited PTO policy, access to free therapy coverage, and robust medical, dental, and vision insurance. Additional perks include a 401K plan with matching, employer-paid short-term and long-term disability insurance, and paid parental leave. This supportive benefits package reflects SonderMind's commitment to enriching the lives of their employees.

In answering this question, focus on specific examples of contracts you've negotiated, highlighting your strategic approach and the outcomes achieved. Discuss the complexity of the agreements and how you navigated challenges during negotiations, showcasing your analytical skills and the ability to build rapport with payors.

Prepare to explain your process for analyzing data sets, emphasizing your understanding of rate modeling and its importance in negotiations. Use examples to illustrate how data-driven insights have led to successful negotiation outcomes, showcasing your ability to leverage analytics for strategic advantage.

Discuss various methods you use to keep abreast of changes in managed care regulations, such as attending industry conferences, participating in webinars, and reading relevant publications. Highlight examples of how this knowledge has directly supported your negotiation efforts and informed your strategies.

Bring attention to your familiarity with alternative payment models like Value Based Programs or Risk Arrangements. Explain how this knowledge informs your contract negotiations and allows you to create value propositions that align with both payor and provider objectives, particularly in behavioral health.

Use the STAR method (Situation, Task, Action, Result) to outline a challenging negotiation scenario. Detail the steps you took to address the difficulties, the communication strategies employed, and the eventual outcomes that benefitted both parties, showcasing your problem-solving skills and resilience.

Discuss your relationship-building approach using specific techniques such as effective communication, active listening, and understanding the needs of payor partners. Emphasize the importance of trust and transparency in fostering long-term partnerships and how you would nurture these relationships post-negotiation.

Highlight any contract management systems or tools you have experience with and discuss how they enhance your efficiency and effectiveness in managing contracts. Emphasize your ability to leverage technology to streamline processes and maintain accuracy throughout the contract lifecycle.

Illustrate your time management skills by explaining how you assess the urgency and importance of various demands. Provide examples of how you've successfully managed multiple negotiations simultaneously, emphasizing your organizational strategies and flexibility in adapting to changing priorities.

Articulate the critical role communication plays throughout the negotiation process, from initial discussions to finalizing terms. Discuss examples of how clear and persuasive communication has led to successful negotiations and established positive relationships, allowing for an open dialogue suitable for collaborative problem-solving.

Express your passion for improving access to mental health services and how the position aligns with your career goals. Mention your admiration for SonderMind's innovative approach to therapy and commitment to making a difference in the behavioral healthcare landscape. Convey enthusiasm for contributing to a mission-driven organization that resonates with your values.