Laboratory Corporation of America Executive Director of Value-Based Care (Located in PA or surrounding areas) in Conshohocken, Pennsylvania
Laboratory Corporation of America Holdings (NYSE:LH), an S&P 500 company is a leading life sciences company, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostics solutions, brings innovative medicines to patients faster and uses technology to provide better care. With net revenue in excess of $9 billion in 2016, LabCorp's 50,000 employees serve clients in 60 countries.
The Hospital Health Systems division is seeking a Regional Business Development Executive to join their team!
Summary of Responsibilities:
In this business development role, the Executive Director of Value-based Care will support the value-based care commercial strategy and marketing development, services evolution, technologies innovation and at risk payment development for accountable care services and overall leadership to advance LabCorp into a leading position in value-based care delivery services within a division.
This position is responsible for commercial growth with value-based customers and plays a key customer-facing role in establishing LabCorp as the value-based care leader in diagnostics and research within large health systems, ACOs, IPAs and strategic partnerships. A significant aspect of this position is to engage in regional industry organizations, conferences, speaking opportunities, directing collateral and marketing, risk model contracting, and engagement with the large client executives, and assist the division's sales organization in large prospect presentations. The ability to work with the division and corporate to develop metrics, prioritize organizations to target for various VBC arrangements, and institute processes for successful contract execution, partnering, and pull-through are core competencies.
Other responsibilities include the following:
Work closely with the division leadership and sales teams for consistent messaging and pull through to improve health outcomes and position LabCorp as the preferred VBC partner/market leader
Participate in corporate strategy by informing of divisional/local initiatives/competitive intelligence needs and serving as a conduit and active participant for developing central strategies and processes such as contracting and IT data feeds, emerging clinical decision support initiatives and adding suggestions as a thought leader
Serve as the divisional VBC care expert with a deep knowledge of MACRA, CMS ACO and bundles, commercial VBC, and health system VBC efforts including delivery system and payment reforms
Understand and become expert on all LabCorp IT, CDS, pop. Health, and VBC care contracting tools, processes, and contract implications
Work closely with the division health systems executive directors for aligned strategies with major health systems
Achieve VBC growth targets
Consistently educate and communicate the VBC strategy, plan, initiatives, wins and losses within the division
Work closely with division and corporate finance through the VP VBC, ACO National Accounts, HHS Admin, and Business lead VBC on creating VBC risk pricing modeling
Ability to evaluate health system existing EMR and IT systems/products impacting VBC delivery within the division (ex. EPIC- Healthy Planet, Optum pop health tools, Cerner, light beam, etc.) and how LabCorp/other diagnostic testing data is currently being utilized
Ability to work in a matrixed environment contributing to both corporate VBC efforts and strategy while executing at the divisional level- spreading best practices learned from the division boots on the ground
7+ years' experience in healthcare or related field such as pharmaceutical industry, managed care, healthcare consulting, with at least 5 years' experience within a health-system, provider setting, consultant, or equivalent
Knowledge of laboratory diagnostics or experience working with the laboratory industry a plus
5+ years' experience or demonstrated knowledge of VBC with advanced knowledge of MACRA, CMS ACO and bundles, and implementation within the healthcare system
Health related degree- PA, NP, or RN with CCM, or health administration experience a plus
Advanced degree such as MPH, MMM, MBA with a HC concentration, or clinical informatics a plus
Management of people and sales experience a plus
Deep understanding of the current healthcare environment with ability to articulate the movement from FFS to VBC risk models and the acumen to accurately determine a provider group or health-systems level of progression along the continuum from FFS to risk.
Good knowledge of various population health program capabilities, utility, and impact for providers with the ability to articulate how lab data can inform decisions
Ability to lead the division in prospect identification, qualification, and execution of VBC opportunities including ACO, bundle, and other risk contracts/arrangements
Executive/Professional Presentation skills including content development and delivery
Self-awareness and effective communication with high-level executives
Develop strategic sales initiatives to maximize the revenue potential of new contract development.
Ability to master LabCorp specific pop health tools such as care intelligence, CDS offerings such as Litholink, data feeds, and other value added services while gaining an understanding of LabCorp products, testing menus, esoteric testing, and evolving capabilities. Effectively articulate the appropriate use of these to tailor specific offerings in alignment with client priorities and capabilities
Serve as a liaison between IT operations, sales, managed care, VBC administration and provider offices within the division.
Must work closely with divisional sales and marketing staff to develop the appropriate materials and activities that support Divisional strategic sales initiatives and objectives
Excellent negotiation, research, planning, and project management skills with at least basic finance and understanding of P&L statements
Build trust-based relationships as a strategic partner
Emotional intelligence to uncover customer needs and pain points- obvious and not so obvious needs for effective partnering
Objection resolution skills that uncover additional needs while deepening the relationship
Making solution recommendations client-focused and persuasive collaboratively with sales, managed care, or other divisional executives
Big picture thinker with the ability to execute
- Positive attitude, self-starter, resilient, personable, competitive, high achiever, professional in appearance and demeanor, speaks clearly and intelligently, compassionate and caring, out to make healthcare better for all- patients and providers
Monday - Friday
As an EOE/AA employer, the organization will not discriminate in its employment practices due to an applicant's race, color, religion, sex, national origin, sexual orientation, gender identity, disability or veteran status.