Director, Healthcare Services - MedTech

About the role

Alvarez & 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 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).

Responsibilities

• Establish and maintain trusted relationships with client stakeholders through clear communication and thoughtful partnership.
• Swiftly assess business needs and design and implement measurable solutions that span all aspects of operations.
• Build, review, and present 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).
• Provide project management (PMO) assistance and overall governance support to clients through a cost-takeout, transaction, and/or integration process.
• Utilize 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 AI.
• Communicate regularly with clients and project team members, escalating any matters that require additional attention and consideration from engagement leadership.
• Provide strategic guidance to manage a client through crisis, helping to identify solutions.
• Collaborate and align with representatives from other service lines.
• Effectively own client project plans and engagements, including defining, prioritizing, and sequencing work to meet deadlines and manage on-time deliverables.
• Lead and manage performance of project teams, including assigning and delegating project responsibilities and providing ongoing coaching and constructive feedback. Mentor and develop junior staff.
• Improve client tracking tools and develop KPIs and metrics to identify and quantify operational performance improvement opportunities.
• Redesign and implement leading practice workflows, addressing deficits in quality, and driving operational and financial outcomes across different levels of healthcare organizations.
• Demonstrate knowledge of engagement economics and overall project delivery, budgeting, and timely billing & collections including managing the implementation risk and profitability for smaller scale projects.
• Identify and manage potential risk to client delivery.
• Develop and deliver high-quality work products, utilizing both qualitative and quantitative data, including cash waterfalls, payment velocity, cost-to-collect, and others.
• Utilize experience and expertise in an interim leadership role and/or being the lead on executing an engagement while managing client relationships.
• Develop transition and hand-off plans to help ensure improvements are sustained following project completion.
• Build relationships with clients and seek opportunities to expand the scope of business while generating leads. Act as an integral member of sales team developing significant portions of proposal and pitch documents.

Requirements

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 preferred.
• BA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPH.
• Advanced Microsoft PowerPoint and Excel skills a must; experience with Visio, Tableau or Power BI, SQL, SPSS, benchmarking is a plus.
• Ability to run an engagement with little oversight maintaining solid project management and organizational skills.
• Solid understanding of the M&A process including Operational and Commercial Due Diligence.
• Working 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 firms.
• Experience 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 personnel.
• Willingness and ability to travel as required.

Commercial Skills

• Familiarity with pricing structures, local agreements (GPO/IDN) group purchasing org and integrated delivery network and contracting processes.
• Understanding of different commercial channels/call points such as ASCs, hospitals and home health agencies, direct vs. distribution, etc.
• Understanding of sales compensation structures.
• High level understanding of commercial plans, Medicare and the managed care landscape.
• Knowledge of product profitability analyses.

Operational Skills

• Familiarity with manufacturing processes; including direct and contract manufacturing, distribution and logistics networks, S&OP, warehousing/3PL models, and associated systems.
• Understanding of manufacturing standards and standard costing methodologies.
• High level understanding of inventory management strategies.
• Knowledge of vendor consolidation analyses.
• Knowledge of insource vs. outsourcing models.

Benefits

Regular employees working 30 or more hours per week are 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 and personal days (amount varies based on tenure and role type).
• Seventy-two (72) hours of sick time (prorated for part-time employees).
• Ten federal holidays.
• One floating holiday.
• Parental leave.

Pay

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.