Specialist - Payors

McKinsey & Company; Austin (TX); On-site; USD 172,800 - 211,200; Full time

Benefits offered by this job

Comprehensive benefits package

Continuous learning and development opportunities

Job summary

A global management consulting firm is seeking a Consulting Specialist to work on delivering impactful solutions within the healthcare sector, specifically for payors. This role involves analyzing complex healthcare issues, guiding clients in improving affordability, and developing effective strategies. Candidates should possess a Bachelor’s degree, at least five years of experience, and strong problem-solving skills. The position offers a competitive salary and comprehensive benefits package.

Qualifications

• 5+ years of relevant experience in healthcare.
• Experience in areas like Payment Integrity or Cost Optimization.
• Strong presence and professionalism with clients.

Responsibilities

• Deliver high-quality outputs to guide client decisions.
• Engage in problem-solving sessions with clients.
• Create new knowledge and capabilities for the payor practice.

Skills

Problem-solving skills

Understanding healthcare ecosystem

Client service mindset

Team player

Education

Bachelor’s degree

Advanced degree

Job description

Consulting Specialist - Payors (Job ID: 104020)

Do you want to work on complex and pressing challenges—the kind that bring together curious, ambitious, and determined leaders who strive to become better every day? If this sounds like you, you've come to the right place.

Your Impact

You’ll work with McKinsey’s Healthcare Access, Quality and Outcomes improvement (HALO) domain as part of our Social Sector, Healthcare & Public Sector Entities (SHaPE) practice in one of our offices in North America. HALO aspires to build solutions, expertise, and capabilities to deliver a comprehensive, end-to-end performance impact to payors (including provider‑led health plans) and services clients (including investor entities and those that operate like payors and take risk) across affordability, access, quality, and efficiency. Taken together, HALO aspires to improve the performance of healthcare worldwide, by means of these levers and capabilities. The HALO domain is the combination of an impact‑focused, interdisciplinary team and a robust suite of analytics, insights, expertise, and solutions to enable payor transformations. These assets can be rapidly deployed across our clients either directly, or in partnership with other domains (e.g. pharmacy, value‑based care, clinical operations). Given this, you will be expected to collaborate both with other HALO colleagues and other SHaPE healthcare areas, as well as the broader global practice of McKinsey consultants and teams. You will also work closely with professional development to ensure the goals of the domain and team experience are closely aligned and play an active role in bringing our people development vision to life.

You will be staffed on client engagements, primarily with national and regional health plans, focused on making healthcare better, more affordable, and more accessible for all. In this role, you will deliver high‑quality outputs to help guide decisions on critical business problems for our clients. These outputs could include strategies to improve affordability/accessibility/quality of healthcare, identified potential opportunity areas in medical / administrative / pharmacy costs, and development of tactical programs and implementation plans, to support execution of the strategies and initiatives you’ve helped develop. You will actively engage with front‑line client teams involved in helping payors improve the quality and cost of healthcare. You will leverage your expertise to take ownership of tenure‑appropriate client relationships and guide clients through appropriate syndication discussions, as well as longer‑term front‑line implementation projects. You will also leverage your project management and client communication skills as you participate in problem‑solving sessions with clients and McKinsey leadership.

You will also devote time to creating new knowledge, assets and capabilities for the payor practice in partnership with Healthcare Access, Quality and Outcomes improvement (HALO) leadership.

Your Growth

• Continuous learning: Our learning and apprenticeship culture, backed by structured programs, is all about helping you grow while creating an environment where feedback is clear, actionable, and focused on your development. The real magic happens when you take the input from others to heart and embrace the fast‑paced learning experience, owning your journey.
• A voice that matters: From day one, we value your ideas and contributions. You’ll make a tangible impact by offering innovative ideas and practical solutions, all while upholding our unwavering commitment to ethics and integrity. We not only encourage diverse perspectives, but they are critical in driving us toward the best possible outcomes.
• Global community: With colleagues across 65+ countries and over 100 different nationalities, our firm’s diversity fuels creativity and helps us come up with the best solutions for our clients. Plus, you’ll have the opportunity to learn from exceptional colleagues with diverse backgrounds and experiences.
• World‑class benefits: On top of a competitive salary (based on your location, experience, and skills), we provide a comprehensive benefits package to enable holistic well‑being for you and your family.

Your qualifications and skills

• Bachelor’s degree, advanced degree preferred
• 5+ years of relevant experience, including experience with at least one of the following areas: Payment Integrity including Fraud, Waste & Abuse; Medical & Pharmacy Cost Optimization; Network optimization; Administration & Operational Efficiency; Care Management; Risk Adjustment
• Understanding of the healthcare ecosystem, particularly payors; knowledge of medical or administrative cost optimization is a plus
• Strong problem‑solving skills with the ability to process complex information
• High level of entrepreneurship, professionalism and presence to succeed on the ground with clients
• Client service mindset
• Able to provide leadership over, and influence individuals across, multiple stakeholders from different levels and backgrounds by tailoring approach
• Ability to be a strong team player in a dynamic and changing environment
• Knowledge of automation or other AI is a plus

Please review the additional requirements regarding essential job functions of McKinsey colleagues. Our unwavering commitment to integrity drives everything we do, guiding us to always act in the best interests of our clients, our people, and the communities we serve.

Equal Opportunity & Compensation

FOR U.S. APPLICANTS: McKinsey & Company is an Equal Opportunity employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by applicable law.

Certain U.S. jurisdictions require McKinsey & Company to include a reasonable estimate of the salary for this role. For new joiners in the United States, a reasonable estimated range is $192,000 - $192,000 USD to help you understand what you can expect. This reflects our best estimate of the lowest to highest [salary/hourly wages] for this role at the time of this posting, ensuring you have a clear picture right from the start. Actual salaries may vary depending on office location, your unique blend of experience and skills, start date and our current organizational needs. Certain roles are also eligible for bonuses, subject to McKinsey’s discretion and based on factors such as individual and/or organizational performance.

Additionally, we provide a comprehensive benefits package that reflects our commitment to the wellness of our colleagues and their families. This includes medical, mental health, dental and vision coverage, telemedicine services, life, accident and disability insurance, parental leave and family planning benefits, caregiving resources, a generous retirement contributions program, financial guidance, and paid time off.

FOR NON-U.S. APPLICANTS: McKinsey & Company is an Equal Opportunity employer. For additional details regarding our global EEO policy and diversity initiatives, please visit our McKinsey Careers and Diversity & Inclusion sites.