Director, Healthcare Services - MedTech

DescriptionAbout Alvarez & MarsalAlvarez & Marsal (A&M) is a global consulting firm with entrepreneurial, action and results-oriented professionals. We take a hands-on approach to solving our clients' problems and assisting them in reaching their potential. Our culture celebrates independent thinkers and doers who positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M's core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are why our people love working at A&M. The TeamThe Healthcare Industry Group, a subsidiary of A&M, leads transformational change in healthcare. As established leaders and trusted advisors, we deliver results for healthcare executives, boards, private equity firms, investors, law firms, and government agencies. Our team brings diverse perspectives and experiences to assist clients with enhancing financial and operational performance, accelerating strategic growth, and optimizing value throughout the investment lifecycle.We provide specialized services in interim management, restructuring, revenue cycle management, M&A, compliance, digital technology, and analytics. Our professionals collaborate with a wide range of organizations, including health systems, physician groups, medical schools, behavioral health institutes, managed care organizations, healthcare investors, medical device companies, and suppliers, as well as vision centers, dental practices, and laboratories.HIG's Healthcare Services practice (HCS), with offices throughout the US, focuses on serving private equity firm's portfolio companies and public and private healthcare companies. Our HCS services include performance improvement/operational turnarounds, cost optimization, M&A services, finance operations, and interim management (including CFO services). Technology Assessment: Whether for due diligence, self-assessment, or transformation objectives we support the review and analysis of platform, data and system architectures, and related applications / products, integrations, infrastructure, processes (PLC, SDLC, compliance), data (architecture, governance, BI, etc.), security, IT teams for scale, capability, cost, resilience, maintainability risk related issues and value opportunitiesPerformance Improvement/Operational TurnaroundWhether serving in interim management roles or in a performance improvement advisory capacity, we draw on deep operational heritage and proven approaches (such as our proprietary rapid results diagnostic) to assess businesses and identify key areas impeding performance quickly and effectively.Cost OptimizationA&M's cost optimization program is a holistic, cross-functional approach that focuses on quickly identifying high-impact opportunities for EBITDA and cash flow improvements across the entire cost structure. A&M's cost optimization focuses on driving significant improvements in cost structure by providing full transparency on cost and margin profiles to simplify and streamline the business and increase the efficiency of overhead costs.M&A ServicesA&M supports companies throughout the M&A lifecycle, including conducting operational/synergy due diligence, integration planning and execution, as well as divestiture and carve-out planning and execution.Finance Operations: A&M drives improvement to its clients' finance operations, including management reporting and optimization of the month-end close process.Interim ManagementIn select instances, one of HCS's experienced operators may step into an interim role (i.e. CEO, COO, CFO, CIO) to drive change while a full-time replacement is being recruited.How you will contributeAs a Director you will be leading a team and acting as the main conduit between healthcare clients and our team on a range of complex assignments. You will manage projects by overseeing interview activities, the gathering of relevant data, developing goals and deadlines, reviewing work product of junior staff, and communicating with clients directly. Depending on the client project the responsibilities of a Director may typically include:Establishing and maintaining trusted relationships with client stakeholders through clear communication and thoughtful partnership.Swiftly assessing business needs and designing and implementing measurable solutions that span all aspects of operations.Building, reviewing, and presenting financial models (e.g., 13-week cash flow forecasts, pro-forma analyses, three-statement models) and operating analyses (standalone and synergy analyses, synergy and one-time cost tracking, carve-out financials and/or pro forma financial statements)Providing project management (PMO) assistance and overall governance support to clients through a cost-takeout, transaction and/or integration processUtilize and/or create project management tools and templates to track activities and progress against client initiatives and associated timelines (e.g., Smartsheet)Leverage tools to provide efficient solutions on behalf of the client such as Smartsheet, Lucid, PowerBI, and Generative AICommunicating regularly with clients and project team members, escalating any matters that require additional attention and consideration from engagement leadership.Providing strategic guidance to manage a client through crisis, helping to identify solutions.Collaborating and aligning with representatives from other service lines.Effectively owning client project plans and engagements, including defining, prioritizing, and sequencing work to meet deadlines and manage on time deliverables.Leading and managing performance of project teams, including assigning and delegating project responsibilities and providing ongoing coaching and constructive feedback. Mentoring and developing junior staff.Improving client tracking tools and developing KPIs and metrics to identify and quantify operational performance improvement opportunities.Redesigning and implementing leading practice workflows, addressing deficits in quality, and driving operational and financial outcomes across different levels of healthcare organizations.Knowledge of engagement economics and overall project delivery, budgeting, and timely billing & collections including managing the implementation risk and profitability for smaller scale projects. Identifying and managing potential risk to client delivery.Developing and delivering high-quality work products, utilizing both qualitative and quantitative data, including cash waterfalls, payment velocity, cost-to-collect, and others.Utilizing experience and expertise in an interim leadership role and/or being the lead on executing an engagement while managing client relationships.Developing transition and hand-off plans to help ensure improvements are sustained following project completion.Building relationships with clients and seeking opportunities to expand the scope of business while generating leads. Acting as an integral member of sales team developing significant portions of proposal and pitch documents.QualificationsWe are seeking someone to join our team with an entrepreneurial and collaborative mindset who will manage ambiguity and thrive in a fast-paced environment. We are looking for: General Skills:A minimum of eight (8) years of prior work experience in healthcare and a MedTech focus on commercial, engineering, operations, and/or finance or similar field. Combination of consulting and industry experience is preferredBA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPHAdvanced Microsoft PowerPoint and Excel skills a must; experience with Visio, Tableau or Power BI, SQL, SPSS, benchmarking a is plusAbility to run an engagement with little oversight maintaining solid project management and organizational skillsSolid understanding of the M&A process including Operational and Commercial Due DiligenceWorking knowledge of MedTech industry with respect to the various channels and value chain, including operational and commercial behaviors, manufacturing COGS, contract research organizations (CRO), contract manufacturing organizations (CMO), or contract development and manufacturing organizations (CDMO)Prior experience working with PE firmsExperience with managing client engagements, deliverables and workstreams while mentoring junior staff Excellent verbal and written skills, with the ability to communicate with and present information to all levels of client personnelWillingness and ability to travel as requiredCommercial Skills:Familiarity with pricing structures, local agreements (GPO/IDN) group purchasing org and integrated delivery network and contracting processesUnderstanding of different commercial channels/call points such as ASCs, hospitals and home health agencies, direct vs. distribution, etc.Understanding of sales compensation structuresHigh level understanding of commercial plans, Medicare and the managed care landscapeKnowledge of product profitability analysesOperational Skills:Familiarity with manufacturing processes; including direct and contract manufacturing, distribution and logistics networks, S&OP, warehousing/3PL models, and associated systemsUnderstanding of manufacturing standards and standard costing methodologiesHigh level understanding of inventory management strategiesKnowledge of vendor consolidation analysesKnowledge of insource vs. outsourcing modelsYour journey at A&M We recognize that our people are the driving force behind our success, which is why we prioritize an employee experience that fosters each person's unique professional and personal development. Our robust performance development process promotes continuous learning, rewards your contributions, and fosters a culture of meritocracy. With top-notch training and on-the-job learning opportunities, you can acquire new skills and advance your career. We prioritize your well-being, providing benefits and resources to support you on your personal journey. Our people consistently highlight the growth opportunities, our unique, entrepreneurial culture, and the fun we have together as their favorite aspects of working at A&M. The possibilities are endless for high-performing and passionate professionals. Regular employees working 30 or more hours per week are also entitled to participate in Alvarez & Marsal Holdings' fringe benefits consisting of healthcare plans, flexible spending and savings accounts, life, AD&D, and disability coverages at rates determined periodically as well as a 401(k)-retirement savings plan. Provided the eligibility requirements are met, employees will also receive an annual discretionary contribution to their 401(k)-retirement savings plan from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave. The amount of vacation and personal days available varies based on tenure and role type. for more information regarding A&M's benefits programs.The salary range is $165,000- $180,000 annually, dependent on several variables including but not limited to education, experience, skills, and geography. In addition, A&M offers a discretionary bonus program which is based on a number of factors, including individual and firm performance. Please ask your recruiter for details.Alvarez & Marsal recruits on an ongoing basis. Candidates are considered as they apply, until the opportunity is filled. Candidates are encouraged to apply expeditiously to any role(s) that they are qualified for and that are of interest to them.A&M does not require or administer lie detector tests as a condition of employment or continued employment. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.