VP, Business Development at Inovalon Inc

Tampa, Florida, United States -

Full Time

Start Date

Immediate

Expiry Date

29 Apr, 26

Salary

205500.0

Posted On

29 Jan, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Strategic Growth Planning, Market Penetration, Revenue Generation, Margin Metrics Achievement, Client Satisfaction, Regulatory Compliance, Sales Leadership, Team Management, Sales Forecasting, Business Strategy Development, Budget Management, Sales Organization Design, Entrepreneurial Approach, Strategic Partnerships Evaluation, HIPAA Compliance, Ethics Standards Promotion

Industry

Software Development

Description

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. Overview: The Vice President, Business Development, will lead two of the key elements critical to the strategic growth plan: First, develop and implement strategies for the successful increase of the company’s products across established and emerging markets in conjunction with our teams and partners. Second, identify, manage and secure opportunities focused on the product portfolio and related areas. Duties and Responsibilities: Provide strategic oversight and leadership in all planning, implementation, execution, and successful achievement of all sales (e.g., de novo, expansion, renewal, extension, direct, procurement, cross-sell and up-sell) of Inovalon in such a fashion as to achieve corporate targets of market penetration, revenue and margin metrics, client satisfaction, product and client diversification as well as ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services; Develop and maintain an expert level of knowledge regarding products, services, and operations of Inovalon to achieve optimal insight into Inovalon’s products, services, capabilities, support, and functionality requirements; Develop annual sales strategic business plans to drive revenue and increase market share; Lead with compelling strategic vision that is in alignment with the organization’s short and long-term goals. Oversee and provide leadership in the effective identification, recruitment, review process, retention, training, daily coordination, and management of team members in such a way as to achieve a successful balance of service provision and associated financial fiduciary responsibility; Lead, and ultimately be responsible for, all business development personnel and business development operations within Inovalon, specifically: Guide and foster the development of Inovalon’s sales personnel, including the staffing, coaching, and development of such business development personnel: in-market, office-based, support, and administrative staff; Be responsible for the tracking and reporting (of pipelines, success rates, costs, financial performance, etc.) pertaining to Inovalon’s sales efforts in a timely, accurate, and comprehensive fashion; Collaborate with all resources and personnel necessary to ultimately achieve (and ideally exceed) Inovalon’s targets for market penetration, revenue and margin metrics, client satisfaction, product and client diversification, and ongoing compliance with regulatory, quality, accreditation, delegation, and contractual requirements of Inovalon’s products and services; and Ensure communications are coordinated, support sales plan objectives and meet organizational expenditure requirements in conjunction with the head of Marketing. Participate with Inovalon leadership in support of the evaluation and shepherding of potential strategic partnerships and initiatives through the considerations needed for Inovalon to vet and consider such partnerships and initiatives; Maintain comprehensive communication with Inovalon management and appropriate internal personnel and clients regarding timelines, readiness, needs, risks, cost implications, and resource requirements; Partner with Inovalon leadership in the strategic development of initiatives to identify market opportunities, product and system enhancements, and other such opportunities which may improve client appeal, process flow, and overall Inovalon business function, industry reputation, and financial performance; and Promote and support Inovalon’s values and compliance and ethics standards, practices, and initiatives, leading by example. Maintain compliance with Inovalon’s policies, procedures and mission statement; Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position; Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Company; Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function; and We reserve the right to change this job description from time to time as business needs dictate and will provide notice of such. Job Requirements: 15+ years of experience working in the healthcare and healthcare technology fields with progressive sales management experience; Extensive knowledge of the Technology/Analytics industry market, business and sales operations; Experience in building, developing and motivating a high performance and accountable sales team that is committed to results; Proven ability developing sales forecasts, business strategies, budgets, quotas, and business plans and delivering presentations, both internal and external; Designing and developing sales organizations that are models for success within the industry; Travel as needed for in-person meetings with customers and partners and to develop key relationships; Exhibits desirable and appropriate professional behavior including leadership, sense of urgency, independent judgment, nimbleness, creative thinking and personal integrity to provide for a cohesive, sales team dedicated to the achievement of corporate goals; Ability to design the sales force to effectively target the full account space with a structure that best aligns with the sales process strategies (i.e., account assignments, territory allocation and design, etc.); and Proven ability to operate as entrepreneur within the teams that are client focused and the ability to instill this quality in others. Education: Bachelor's degree in Sales and Marketing, Business Management or related field required and 15+ years of equivalent experience in related field; and MBA preferred in related field or 13+ years’ experience with equivalent experience. Physical Demands and Work Environment: Sedentary work (i.e., sitting for long periods of time); Exerting up to 10 pounds of force occasionally and/or negligible amount of force; Frequently or constantly to lift, carry push, pull or otherwise move objects and repetitive motions; Subject to inside environmental conditions; and Travel for this position will include less than 25% locally usually for training purposes. 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 $200,000—$205,500 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. To review the legal requirements, including all labor law posters, please visit this link To review the California Consumer Privacy Statement: Disclosures for California Residents, please visit this link

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Responsibilities

The Vice President, Business Development will lead the development and implementation of strategies to increase product adoption across established and emerging markets, while also identifying, managing, and securing opportunities related to the product portfolio. This role provides strategic oversight for all sales activities to achieve corporate targets for market penetration, revenue, margin metrics, and client diversification.