Executive Director Medical Economics

Health Care Service Corp.; Chicago (IL); Hybrid; USD 161,500 - 299,700; Full time

Job summary

Health Care Service Corp. is seeking a leader for the medical economics strategy to enhance analytics and value in healthcare. The candidate will develop the Medical Economics Engine, manage cross-functional teams, and drive insights to reduce costs.

This role requires hybrid attendance in Chicago and offers a competitive salary range of $161,500 – $299,700 based on experience. Ideal candidates will possess significant analytical and leadership expertise in healthcare economics.

Qualifications

• 12 years of experience in healthcare analytics or medical economics, or 10 years with an advanced degree.
• 7 years of leadership experience; ability to lead a team of experts.

Responsibilities

• Lead the development of the Medical Economics Engine by overseeing testing and delivery.
• Identify and analyze key cost drivers, providing insights to reduce costs.
• Direct, coach, and develop team members to enhance performance.

Skills

Healthcare analytics

Leadership

Financial modeling

SQL or equivalent

Education

Bachelor’s degree in finance, actuarial science, healthcare economics

MBA or similar advanced degree

Tools

SQL

Job description

Job Summary

This position is responsible for leading enterprise‑wide medical economics strategy to improve how we analyze medical cost, surface insights to cross‑functional stakeholders, and design initiatives to enhance medical value. As the business owner of the Medical Economics Engine (MEE), you will set program strategy, define requirements for capability builds, and collaborate with executive leaders to deliver actionable insights. The role is hybrid, requiring in‑office attendance three days a week at the designated location.

Responsibilities

1. Medical Economics Engine (MEE) Development
   • Lead the development of our medical economics engine by setting program strategy, defining requirements, and overseeing testing and delivery.
   • Collaborate with cross‑functional stakeholders (executive leadership, Network, Healthcare Management, etc.) to define overall program strategy.
   • Own the business requirements and functional strategy for all MEE components, partnering with delivery teams to oversee feature prioritization, deployment, change management, and user adoption.
   • Ensure MEE reporting and analytics effectively support business needs.
2. Value Improvement (VI) Support
   • Lead the Value Improvement task force, identify and analyze key cost drivers, and derive actionable insights to reduce costs and improve value.
   • Gather, synthesize, and present timely insights on emerging trends, cost drivers, and outlier behaviors to enable cross‑functional leaders to make informed decisions.
   • Act as the primary point of contact for cross‑functional program leads on medical cost trends and insights.
   • Assist in shortening timelines from opportunity identification to delivery of value improvement and identify other opportunities to improve the VI process.
3. Team Development & People Management
   • Direct, coach, and develop team members from director to individual contributors.
   • Build the team to support development of additional capabilities, such as program strategy and AI‑enabled insights.
   • Foster a collaborative team environment, set goals, monitor performance, and support professional development.

Required Qualifications

• Bachelor’s degree in finance, actuarial science, healthcare economics, or a related field.
• 12 years of experience in healthcare analytics, medical economics, or financial modeling analysis, or 10 years with an advanced degree.
• 7 years of leadership experience; ability to lead a team of internal subject matter experts and external advisors.

Preferred Qualifications

• Actuarial certification (e.g., FSA).
• MBA, Master of Finance, Master of Medical Economics, or a similar advanced degree.
• SQL or equivalent querying tools experience.
• Analytics leadership experience within a health insurance payer or provider organization.

Location

Hybrid – 3 days in office at the designated location; remaining days remote.

Compensation

Base Pay Range: $161,500 – $299,700. Exact compensation may vary based on skills, experience, and location.

Equal Opportunity Employment Statement

HCSC is an Equal Opportunity Employment employer dedicated to providing a welcoming environment where the unique differences of our employees are respected and valued. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other legally protected characteristics.