A prosthetic mitral valve can include an outer frame, an inner frame, a valve structure, and a sealing member. The outer frame comprises a plurality of first struts arranged in a lattice pattern and defining a first lumen. The outer frame is self-expandable from a compressed state to an expanded state. The inner frame comprises a plurality of second struts arranged in a lattice pattern and defining a second lumen. The inner frame is disposed within the first lumen of the outer frame, is self-expandable from a compressed state to an expanded state. The valve structure comprises three leaflets made from pericardium and is mounted within the second lumen of the inner frame. The sealing member is coupled to and extends radially outwardly from an atrial end of the outer frame and is configured to engage native tissue of the heart on an atrial side of the native mitral valve.