Commercial Manager at Cedarcrest Hospitals

Job Description

• As a Commercial Manager for Cedarcrest Hospitals, your primary responsibility is to oversee the organization's commercial operations and drive its financial growth.
• Your role involves managing various aspects of the hospital's business functions, including sales, marketing, revenue generation, and customer relationships.

Here's a breakdown of the job profile:

• Strategic Planning: Develop and implement commercial strategies aligned with the hospital's overall goals and objectives. This includes identifying opportunities for growth, market expansion, and revenue optimization.
• Sales and Business Development: Lead the sales team in developing and executing effective sales strategies to attract new clients and maintain existing customer relationships. Identify potential business opportunities and establish partnerships with other healthcare providers, insurance companies, and corporate clients.
• Marketing and Branding: Collaborate with the marketing team to create and execute comprehensive marketing campaigns that promote the hospital's services, increase brand awareness, and drive patient acquisition. Monitor market trends and competitor activities to ensure a competitive edge.
• Financial Management: Develop and manage the hospital's commercial budget, including revenue forecasting, expense control, and financial analysis. Implement pricing strategies and monitor financial performance to achieve profitability targets.
• Contract Negotiation: Negotiate contracts with clients, suppliers, and vendors to ensure favorable terms and conditions for the hospital. Collaborate with the legal department to review and finalize agreements while mitigating risks.
• Customer Relationship Management: Maintain strong relationships with key clients, addressing their needs, and ensuring a high level of customer satisfaction. Implement customer retention strategies and resolve any commercial issues that arise.
• Team Management: Provide leadership and guidance to the commercial team, including sales representatives, marketing professionals, and administrative staff. Set performance targets, conduct regular performance evaluations, and provide training and development opportunities.
• Compliance and Regulations: Stay up-to-date with relevant laws, regulations, and industry standards pertaining to commercial operations in the healthcare sector. Ensure the hospital's compliance with these requirements, including data protection and privacy regulations.
• Reporting and Analysis: Prepare regular reports on commercial performance, market trends, and financial metrics for presentation to management team. Analyze data to identify areas for improvement and develop actionable strategies.

Key Performance Indicators

• Revenue Growth
• Customer Satisfaction
• Sales Performance
• Cost Control
• Contract Performance
• Market Share
• Competitive Analysis
• Revenue Growth: Measure the hospital's revenue growth over specific periods, such as quarterly or annually. This indicator reflects the effectiveness of commercial strategies and business development efforts.
• Sales Performance: Assess the performance of the sales team based on metrics such as the number of new clients acquired, the value of new contracts secured, and the conversion rate of leads into customers.
• Customer Satisfaction: Measure and monitor customer satisfaction levels through surveys, feedback, and ratings. High customer satisfaction indicates successful commercial operations and a positive patient experience.
• Market Share: Evaluate the hospital's market share within its geographical area or specific healthcare segments. This indicator shows the hospital's competitiveness and penetration into the market.
• Market Share:: Monitor and control commercial expenses to ensure they align with the allocated budget. This KPI helps assess the manager's ability to optimize resources and improve profitability.
• Contract Prformance: Track the performance of contracts with key clients, including contract renewal rates, upselling or cross-selling opportunities, and customer retention rates. This metric indicates the success of the manager's contract negotiation and customer relationship management skills.
• Return on Investment (ROI): Evaluate the financial return on marketing and promotional activities, assessing the effectiveness of commercial campaigns and initiatives.
• Team Performance: Assess the performance of the commercial team based on individual and collective targets, revenue contributions, and customer satisfaction ratings. This KPI reflects the manager's ability to lead and develop the team.
• Competitive Analysis: Conduct regular assessments of the hospital's performance compared to competitors, analyzing factors such as market share, pricing, and service offerings. This KPI helps identify areas for improvement and strategic adjustments.
• Compliance Adherence: Monitor the hospital's compliance with relevant regulations, policies, and ethical standards. This indicator ensures adherence to legal and industry requirements, mitigating potential risks.

Requirements

• Candidates should possess a B.Sc Degree with 7 - 8 years relevant work experience.
• The ideal candidate must have experience as a commercial manager in the medical sector.