Labcorp Diagnostics Job - 41333095 | CareerArc
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Company: Labcorp Diagnostics
Location: Raritan, NJ
Career Level: Mid-Senior Level
Industries: Healthcare, Pharmaceutical, Biotech


LabCorp is currently seeking a Contracts & Compliance Manager -- Pricing and Contracts in Raritan, NJ. This Manager will be responsible for ensuring consistent management of all pricing decisions, pricing quotes, requests for proposals and contracts in our Finance department. This includes oversight of the pricing and contract management processes, as well as development of specific standards for bidding and submission, contract negotiations and document management. The role requires close collaboration and partnership with our Sales organization. Customer Master Responsibilities: manages a team of Data Governance Specialists responsible for the entry and maintenance of account and customer master data, including the setup and maintenance of all account information, the deactivation and reactivation of accounts, and master data elements defined by LabCorp. The position is responsible for customer master process development/documentation and ensures that Data Governance Specialists follow standard procedures. The position monitors departmental performance, manages department workload, provides guidance and leadership, and manages employee time and attendance. The position is responsible for working with internal and external customers to define service level requirements and for meeting or exceeding service level commitments and quality standards. Pricing Responsibilities: oversees and coordinates the delivery of client, non-managed care pricing services, including the analysis and development of pricing requests associated with standard proposals or customer-specific deals, general price increases, net fee schedule distribution, and development of price letters. The position is responsible for pricing process development/documentation and ensures that standard procedures are followed. The position manages department workload, provides guidance and leadership, and is responsible for defining service-level requirements and for meeting or exceeding service-level commitments and quality standards.   Responsibilities also include but are not limited to:

  • Maintain deadlines on deliverables and communicate on an ongoing basis with business partners and internal clients about pricing and contractual issues.
  • Review client pricing and contractual performance of both parties to ensure compliance with terms and to identify conflicts or changes requiring resolution at contract renewal.
  • Be a subject matter expert within department on Customer Master activities.
  • As a part of Finance, ensure adherence to the organization's broader finance and risk requirements such as revenue recognition, pricing and discounting policies, and controls etc., while understanding overall role importance to the divisional financial goals, objectives, and performance.
  • Develop and implement procedures for contract management and administration in compliance with company policy.
  • Draft contractual provisions based on strategy discussions, senior management input, and organizational needs and expectations. 
  • Develop and implement processes and procedures for managing pricing decisions, pricing quotes, and requests for proposals.
  • Develop standards for pricing policies and contracts, including payment terms, general language, and provisions.
  • Conduct pricing strategy meetings with the Sales team to identify issues and client requirements, implement pricing decisions, and obtain senior management input on timelines and deliverables.
  • Coordinate price assignment with National pricing & specialty pricing teams as needed.
  • Handle on-going issues and change management. 
License/Certification/ Education:  B.A./B.S. Degree in accounting, finance, business, healthcare management or related field w/5-7 years of experience.   Qualifications:
  • Prior work experience in a contract management role.
  • Experience in applying organizational standards when developing requests for proposals and drafting contracts.
  • Ability to systematically analyze complex problems, draw relevant conclusions and implement appropriate solutions.
  • Strong verbal and written skills and ability to convey complex information in a way that others can readily follow.
  • Excellent negotiating and persuasive skills, both in one-on-one and group situations.
Required Skills:
  • Demonstrated strategic and operational thinking skills.
  • Must possess strong communication and organizational skills with a focus on timely results and process improvement.
  • Structured and organized planner.
  • Proficient in Microsoft Word, Excel, Power Point, and Word.
  • Flexibility to handle multiple assignments simultaneously.
  • Strong sense of urgency and ability to energize others when necessary. 

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