Product Development Director

Elevance Health

Product Development Director at Elevance Health leading PBM product strategies and clinical solutions across Commercial and government segments. Collaborating with cross-functional teams to deliver innovative market-responsive solutions.

Posted 5/15/2026full-timeWallingford • Connecticut, Massachusetts, New York • 🇺🇸 United StatesLead💰 $121,716 - $190,512 per yearWebsite

About the role

Key responsibilities & impact

Leads strategy and implementation of new or enhanced PBM products, including clinically driven solutions, UM programs, and integrated product bundles across Commercial and government segments
Partners with cross-functional leaders (Clinical, Actuarial, Trade Relations, Operations, IT, Sales, and Medical partners) to deliver aligned, enterprise-wide product strategies that meet both clinical and financial objectives
Drives product roadmap execution with a focus on accelerating speed-to-market, reducing product lifecycle timelines, and prioritizing high-impact, revenue-generating opportunities
Monitors specialty drug pipeline, biosimilars, emerging therapies, and market innovations to inform product strategy and identify opportunities for differentiation or gap closure
Evaluates current product portfolio performance, identifying opportunities to enhance, sunset, or expand offerings to improve adoption, utilization, and profitability
Ensures all products are compliant with regulatory directives, state/federal laws, and evolving PBM transparency requirements
Coordinates the communication, presentation, and implementation of all phases of product development, including go-to-market readiness and stakeholder alignment
Serves as a subject matter expert for clinical product capabilities, representing product strategy in client, partner, and executive-level discussions
Collaborates across matrix partners to break down silos and deliver integrated pharmacy and medical solutions, including supporting growth in ASO and integrated product offerings
Monitors competitive, regulatory, economic, and industry trends to proactively assess product impacts, risks, and opportunities

Requirements

What you’ll need

Requires a BA/BS degree and a minimum of 5 years of related experience
MBA or PharmD with a strong focus on healthcare strategy, pharmacy benefit management, or clinical program design preferred
5+ years of PBM product development, managed care pharmacy, or related experience with demonstrated ownership of product strategy, roadmap development, and P&L impact preferred
Deep understanding of formulary management, P&T processes, specialty pharmacy economics, and utilization management strategies
Proven ability to operate in a highly matrixed environment, partnering across clinical, trade, operations, IT, sales, and medical teams to deliver integrated product solutions
Strong strategic, analytical, and agile mindset with the ability to assess market trends, identify product gaps, and rapidly translate insights into actionable product strategies
Experience engaging with senior leadership and executive stakeholders as a product subject matter expert

Benefits

Comp & perks

comprehensive benefits package
incentive and recognition programs
equity stock purchase
401k contribution
merit increases
paid holidays
Paid Time Off
incentive bonus programs
medical benefits
dental benefits
vision benefits
short and long term disability benefits
wellness programs
financial education resources

ATS Keywords

✓ Tailor your resume

Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools

product developmentroadmap developmentformulary managementutilization managementP&T processesspecialty pharmacy economicsclinical program designhealthcare strategyPBM product strategyP&L impact

Soft Skills

strategic mindsetanalytical skillsagile mindsetcommunicationcollaborationleadershipstakeholder alignmentcross-functional partnershipproblem-solvingpresentation skills

Certifications

BA/BS degreeMBAPharmD