SVP, Commercial Strategy - Pharmacy

SVP of Commercial Strategy

Reference # : 7511340003 Inovalon was founded in 1998 on the belief that technology, and data specifically, would empower the transformation of the entire healthcare ecosystem for the better, improving both outcomes and economics. At Inovalon, we believe that when our customers are successful in their missions, healthcare improves. Therefore, we focus on empowering them with data-driven solutions. And the momentum is building. Together, as ONE Inovalon, we are a united force delivering solutions that address healthcare's greatest needs. Through our mission-based culture of inclusion and innovation, our organization brings value not just to our customers, but to the millions of patients and members they serve. The SVP of Commercial Strategy is responsible for the revenue growth strategy of the Pharmacy business and is the critical link between our external customers and our internal product team. This requires acute awareness of the evolving healthcare, pharmacy, and data landscape, future needs of customers, emerging market trends, and regulatory and industry developments. This role will report into the President of the Pharmacy business unit and will partner closely with other senior stakeholders across sales, marketing, product, technology, customer, legal and compliance functions.

Responsibilities

Relationship Management : Build and maintain strong relationships with the sales and product organizations, customers and partners to ensure the revenue objectives of the business are met.

Strategy Development : Work with internal teams, customers, consultants, etc., as needed, to develop go-to-market strategies that meet market demands and customer needs, ensuring alignment with product and company goals.

Market Research : Conduct thorough market research to identify new business opportunities and trends that can benefit the company. Maintain a deep understanding of market problems, needs, and potential opportunities.

Team Leadership : Build and oversee a small team to ensure all commercial facets of the Pharmacy business are adequately supported.

Proposal Development : Create and improve proposals to attract new customers and retain existing customers, enhancing the company's market position. Build the needed return on investment models to support proposed strategies.

Performance Monitoring : Analyze current and past revenue and sales data to continuously refine strategies aimed at revenue retention and growth. This includes monitoring new business or product initiatives, adjusting plans as necessary to ensure successful outcomes.

Presentation Skills : Present business plans and strategies to the executive team and other senior stakeholders, effectively communicating revenue trends for existing products and the value creation potential of proposed initiatives.

Buy-Build-Partner Analysis : Conduct the needed analysis to determine the best approach to meet desired strategies relative to a buy, build, or partner approach and model. Understand potential market partnerships.

Competitive Landscape : Understand and maintain competitors and competing products relative to the Inovalon and Pharmacy business unit offerings to help drive strategy and growth decisions.

Specific Duties

Lead the creation of the Pharmacy business commercial strategy including revenue targets, market research, growth opportunity identification, and product pricing strategy; Allocate meaningful time to building customer relationships and supporting sales in all aspects of the go-to-market strategy. This includes activities such as pre-sales support activities, customer meetings, and conferences; Partner closely with Sales & Marketing on brand-building activities, marketing campaigns and strategies, marketing collateral, and competitor analysis; Accelerate access to new products and markets by defining a robust strategy to identify strategic partnerships and acquisition opportunities for the Pharmacy business. This includes leading commercial partnerships and inorganic investment initiatives in collaboration with Sales, Product, Corporate Strategy and other internal Inovalon functions.

Job Requirements

22 years plus experience in a pharmacy, pharmacy software, and / or related business with a focus on commercial strategy and revenue responsibility. 15+ in a leadership capacity. Broad understanding of healthcare and pharmacy with demonstrated track record of defining, measuring and achieving revenue plans. Demonstrated ability to collaborate across functions and business units to define and deliver a commercial strategy aligned with product strategy. Proven track record of success facilitating progressive organizational change and development within a growing organization. Exceptional written, oral, interpersonal, and presentation skills and the ability to effectively interface and influence all levels of leadership and external parties. Travel Requirement : 30% Education : Bachelor's degree is required; Pharmacy or related degree preferred; and / or Master's degree or equivalent preferred.

Inovalon Offers a Competitive Salary and Benefits Package In addition to the base compensation, this position may be eligible for performance-based incentives. The actual base pay offered may vary depending on multiple factors including, but not limited to, job-related knowledge / skills, experience, business needs, geographical location, and internal equity. At Inovalon, it is not typical for an individual to be hired at or near the top end of the range for their role, and compensation decisions are dependent upon the facts and circumstances of each position and candidate. Inovalon invests in associates to help them stay healthy, save for long-term financial goals, and manage the demands of work and personal commitments. That's why Inovalon offers a valuable benefits package with a wide range of choices to meet associate needs, which may include health insurance, life insurance, company-paid disability, 401k, 18+ days of paid time off, and more. Base Compensation Range $266,240 $320,000 USD This position is not eligible for immigration sponsorship (e.g. H-1B, TN, or E-3). Applicants must be authorized to work in the United States as a condition of employment. (This is only applicable for US-based positions) If you don't meet every qualification listed but are excited about our mission and the work described, we encourage you to apply. Inovalon is most interested in finding the best candidate for the job, and you may be just the right person for this or other roles. By embracing inclusion, we enhance our work environment and drive business success. Inovalon strives to provide equal opportunities to the communities where we operate and to our clients and everyone whom we serve. We endeavor to create a culture of inclusion in which our associates feel empowered to bring their full, authentic selves to work and pursue their professional goals in an equitable setting. We understand that by fostering this type of culture, and welcoming different perspectives, we generate innovation and growth. Inovalon is proud to be an equal opportunity workplace. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or veteran status. We also consider qualified applicants regardless of criminal histories, consistent with legal requirement.