CareFirst BlueCross BlueShield Business Development Lead in Baltimore, Maryland
Resp & Qualifications
CareFirst is a leader in the healthcare industry serving over 3 million Members. Healthworx is a CareFirst division encompassing corporate venture, corporate development, innovation, and commercialization functions for the organization. Within these functions, the commercialization team is tasked with the development of new products and businesses. The team’s goal is to solve unmet needs for both CareFirst and the broader healthcare ecosystem while diversifying CareFirst and Healthworx’s portfolio of solutions, creating exposure to new markets.
Throughout the commercialization team’s process, solutions to important problems are evaluated, refined, and pressure tested. When the commercialization team has developed sufficient evidence around an opportunity based on metrics of desirability, viability, and feasibility, a dedicated Product Team is established to further pursue the opportunity. The Product Team operates as an “internal startup” working towards specific success metrics and milestones which, if achieved, provide the evidence and rationale to launch a new product or business. At that inflection point, members of the Product Team typically become part of that new venture.
Today, Healthworx has launched a Product Team to pursue the development and launch of a technology and service platform to support working caregivers. Healthworx is seeking an experienced entrepreneur or proven business executive to lead business development. In this role, the Business Development Lead should be an individual who can roll up their sleeves to develop and implement a business vision and strategy, operate cross-functionally with sales, product, and technology peers, and function successfully in a dynamic work environment that asks Product Team members to take support various activities in pursuit of creating and validating the opportunity. An ideal Business Development Lead will bring empathy and passion to address the needs of working caregivers, excitement to build a new, scalable healthcare business, and the skillset to become part of the leadership team for the new venture, should the Product Team achieve success.
Reporting to the Healthworx Director of Commercialization:
The Business Development Lead is responsible for refining and executing the business vision, strategy, and objectives of Healthworx’s Product Team
The Business Development Lead is responsible for the business roadmap and collaborating with colleagues on the product, technology, marketing, sales, and other strategic roadmaps with a focus on long-term strategy, market dynamics, and opportunities
The Business Development Lead’s operational responsibilities include:
The leadership of the Product Team
Operating with a spirit of collaboration alongside Product Team colleagues including the Product Owner, Head of Partnerships & Sales, and Technical Lead
Ownership of the Product Team’s business strategy, business model, financial model (projections, pricing, etc.), and value proposition
Ownership of Product Team operations (in the context of product/technical operations, this is shared with the Product Owner and Technical Lead)
Ownership of operations-related relationships/activities with shared services provided by CareFirst (i.e. legal, finance, compliance, marketing, etc.)
Expert understanding and continued learning around market, customer, and user needs, motivations, and opportunities
Expert understanding of the product and product roadmap developed in collaboration with the Product Owner and Technical Lead
Development and implementation of marketing strategies in collaboration with the Head of Partnerships & Sales and shared service resources from CareFirst
Identification and pursuit of strategic partnerships in collaboration with the Head of Partnerships & Sales
Identification and pursuit of customers in collaboration with the Head of Partnerships & Sales
Ability to interface with external partners supporting Product Team activities (i.e. designers, developers, etc.)
Communication of all Product Team activities, progress, milestones, and risks with internal leadership and external partners
The Business Development Lead should bring the experience needed to operate the Product Team in the short-term and become part of the leadership team for the new venture, should the Product Team achieve success.
The Business Development Lead is responsible for critical components of the Product Team’s progress influencing go/no-go decision towards a new venture
Minimum of 7 years of experience in a business leadership role including but not limited to: CEO, COO, or VP of Business Development at an early or growth-stage business
BS in a business, product, or healthcare-related field and some form of graduate education (i.e. MBA, MHA, MS, etc.)
Proven ability to translate market dynamics and customer needs into business strategies
Experience building and iterating on business and financial models
Experience working cross-functionally with technical, design, product, marketing, and sales teams
Experience engaging and articulating the needs of customers and users while translating those needs into a business/product strategy and roadmap
Experience forming and fostering strategic relationships with executive leadership at client and partner organizations
Independent thinker and self-starter who can make decisions strategically and creatively to drive tactical execution and motivate productivity without supervision
Capacity to play multiple roles daily and operate with humility alongside team members in different Product Team functions
Willingness to bring a “doer” mentality to the Product Team, this role is not aligned with applicants seeking an “advisor” or “mentor” role
Experience in the field of caregiving such as through a leadership role at a service and/or technology business serving the needs of caregivers
Additional graduate education (MBA, MHA, other Master’s degree, PhD) in a business or health-related discipline
Experience executing the sale or IPO of a business in which the candidate held a leadership role
Experience with healthcare regulation and policy
Proven track record of thought leadership in healthcare
Proven, high-performing track record in positions of responsibility for business plan development and execution
Must be able to effectively work in a dynamic environment with frequently evolving priorities and manage high volume workloads efficiently to accomplish commercialization goals. Must be able to anticipate and plan for risks and challenges associated with pursuing new business opportunities and the evolving requirements of the venture as it progresses through phases of implementation, validation, and scale.
Department: Corporate Development / Healthworx / Office of the CEO
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Hire Range Disclaimer
Actual salary will be based on relevant job experience and work history.
Where To Apply
Please visit our website to apply: www.carefirst.com/careers
Please apply before: 4/11/2021
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship