Commercial and Product Finance Manager, Biofourmis
$135-175k
1 day a week in office (Needham, MA)
ML-driven predictive analytics platform for healthcare
Job no longer available
ML-driven predictive analytics platform for healthcare
201-500 employees
Job no longer available
$135-175k
1 day a week in office (Needham, MA)
201-500 employees
Company mission
To harness the power of technology and data to shape innovations that bring the right care to every person, no matter where they are.
Role
Who you are
- Bachelor’s degree in finance, business or a related field
- 5+ years of commercial finance management experience, preferably in healthcare
- Advanced knowledge and experience in contract negotiation
- Knowledge of revenue accounting principles
- Detail oriented with strong time management and project management skills
- Demonstrated ability to interact with executive management
- Strong analytical and interpersonal skills with the ability to effectively communicate with both customers and internal teams
- Proficient in Microsoft Excel, PowerPoint and Word and skilled in financial planning and ERP systems
- Superb attention to detail
- Can function independently and effectively in a self-directed environment
- Resilient team player who can juggle multiple priorities and competing deadlines
- Hard-working, motivated and reliable with a desire to learn and succeed in a demanding role
What the job involves
- The Commercial and Product finance manager serves as the primary finance contact for the commercial and product organizations
- Reporting directly to the Chief Financial Officer, this position will play a critical role in driving profitable growth for Biofourmis by providing financial and analytical support for commercial and strategic decisions
- This role is responsible for financial analysis and commercial evaluation of new and existing customer and product opportunities, and helps ensure a proper balance of the risk/reward relationship for each opportunity
- Lead commercial deal modeling to evaluate expected costs, profitability and internal resources needed
- Support the sales team with pricing strategy and in managing and optimizing targeted financial results, taking into consideration project margin, cash flow, contractual risks, etc
- Provide contract handover support as needed, including educating others on services, billing and other contract terms that impact revenue recognition and billing
- Collaborate with FP&A and accounting to provide guidance on billing and revenue bookings
- Provide financial reporting and analysis of actual revenue versus forecast/prior year performance for ongoing Executive Leadership Team and Board of Director meetings, including regular reporting updates as well as ad hoc analyses of revenue as needed
- Own revenue forecast, in close collaboration with FP&A and commercial leaders, to ensure revenue forecast most accurately reflects expected short-term and long-term revenue achievement
- Manage all components of sales commissions, including calculating contract value, payroll coordination, tracking deferred payments, and maintaining and updating commissions forecasts
- Support analysis of cost for product related activities as well as evaluation of device manufacturing
- Own unit economics analysis, including pricing and product costs, to ensure product offerings meet margin thresholds as set by business
- Maintain contract compliance, ensuring activities align to contact terms and taking actions necessary to resolve unaligned activities
- Provide contract renewal support, including price increases and contract term renegotiations
- Lead and manage monthly revenue forecast process and updates
- Partner with Customer Success Managers to provide pricing and financial support for existing customer requests and change orders
Our take
Data provides the means for analysts to predict all manner of life events, including using health data to predict patient deterioration. However, aggregating and analysing data is such a time-consuming process that it is almost impossible to get a holistic view of a patient's health and predict the best courses of action.
Biofourmis provides an ML-driven healthcare predictive analytics platform, aggregating patient data and using ML to analyse the data, streamline connections between patients and care teams, and ultimately predict health outcomes. The platform integrates directly with existing software for care providers, pharmacies, patients, and healthcare payers, helping to reduce healthcare costs by increasing data transparency, optimising care plans, and reducing re-admission rates.
Whilst the company faces competition from other ML-driven healthcare data analysis platforms, Biofourmis stands out by providing its services to all parties, not just healthcare providers - an approach which provides the benefits of AI-assisted healthcare whilst reducing existing communication friction. Having surpassed unicorn status in 2022, the company has been focused on expanding operations, including by scaling its virtual care offerings and securing further high-value partnerships.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
4% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Aug 2022
$20m
SERIES D
Apr 2022
$300m
SERIES D
Total funding: $463.6m
Company HQ
Needham Heights, Needham, MA
Leadership
Maulik Majmudar, M.D.
(Chief Medical Officer)Research Fellow in Cardiovascular Medicine and Associate Director of the Healthcare Transformation Lab for Massachusetts General Hospital from 2011 to 2018. Medical Advisor for Amazon from 2018 to 2021, and for HILABSINC since 2016.
David Koretz
(CEO)Previously Board Member at Plum Inc, was on the Board of Directors for BlueBox Security and EarthLink and was Corporate VP of Juniper Networks.
Steve McKenzie
(CRO)Was the VP of CoPilotIQ, a National Director at Paychex and was a VP at Dollar Financial Group.
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