Senior Director, Pricing Operations

Recognized by FORTUNE magazine as one of the "World's Most Admired Companies," Quest Diagnostics (www.QuestDiagnostics.com) is the world's leading provider of diagnostic testing, information and services that doctors and patients need to make better healthcare decisions. We are pioneers in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care.

With corporate headquarters in Secaucus, NJ, Quest Diagnostics is a Fortune 500 company traded on the New York Stock Exchange (NYSE: DGX) and included in the Dow Jones Sustainability World Index. With 2024 revenues of $9.87 billion and over 2,250 patient locations across the United States, Quest Diagnostics serves half of the physicians and hospitals in the U.S. with their large variety of products and services.

The Role

The Senior Director, Pricing Operations reports to the VP Strategic Pricing within the Finance organization and is a member of the Pricing Leadership Team (PLT) and the Quest Leadership Team (QLT). The role leads the Center of Excellence providing Triage, Cross-Mapping, and Pricing bid support to multiple customer segments including: National & Regional Group Purchasing Organizations, Health Systems, Hospitals, Commercial Reference Lab, Enterprise, Consumer Initiated Testing, Joint Venture, Public Health Ops and Clinical Franchise.

Responsibilities are wide-ranging from development & execution of large-scale objectives to transactional bid support. This role creates and ensures timely execution of the organizational roadmap and is the thought-leader for deal design, comp modeling, strategic pricing recommendations, competitive strategies, consultative support, and presentation to stakeholders, business partners, and customers.

This position is accountable for organizational adherence to policy & procedure requirements including but not limited to billing compliance, pricing rules such as Medicaid Comparable, and client bill.

Approval decisions are rendered in accordance with Corporate Authorization Matrix and Pricing Operations Pricing Policy documents. The Sr. Director is a Deal Strategy Approver.

This role ensures early awareness communication of forthcoming approvals & financial impacts to Region, Commercial, Finance, Clinical Franchise, and Senior Leadership Teams.

The position may be based near a US-based Quest lab/office location.

• Leads team of approximately 35 FTEs to provide triage, cross-mapping, pricing, financial, and analytical modeling deal support to multiple segments, including occasional M&A opportunities, so Quest Diagnostics can make informed decisions aligned with Federal, State and Group Purchasing Organization contract requirements
• Leads the development and execution of process improvement initiatives, including Kaizens, that improve revenue growth, streamline and standardize processes including RPA and AI, reduce turnaround time, improve productivity, and increase bid capacity of the Center of Excellence
• Collaborates with Group Purchasing Organization and Commercial leadership to develop and execute deal negotiation and contract management strategies
• Collaborates closely with Health System and Commercial Leadership
• Owns pricing decisions rendered by the Center of Excellence including those processed through HBOT and other Pricing Tools
• Owns accuracy and completeness of contractually obligated pricing loaded into billing systems
• Owns pricing specific contract decisions for supported segments initiated by the Center of Excellence or Commercial Contracting including those processed through Sales Force and other Contract Tools
• Owns employee development initiatives and leads efforts to improve and maintain employee engagement, satisfaction, and retention
• Leads development of the Annual Operating Plan for National & Regional Group Purchasing Organizations; liaises with FP&A for planning & forecasting purposes
• Ensures early awareness communication of forthcoming approvals & financial impacts to Region, Commercial, Finance, Clinical Franchise, and Senior Leadership Teams
• Leads response to internal and external audits and continuous updating and adherence to applicable controls
• Ensures organizational adherence to the following policies:
  
  
  
  • Corporate Authorization Matrix
  • Pricing Policy Document
  • Price Concession & Deal Strategy Policy
  • Compliance Policies applicable to pricing, billing
  • TSO Policy
  
  
• Responsible for the continued expansion of Center of Excellence bid support to acquisition businesses and other non-supported Quest Diagnostics client bill businesses
• Responsible for sharing tools, resources, best standardized practices with acquisition businesses and other non-supported Quest Diagnostics businesses
• Responsible for the continued updating, deployment, and adherence to internal control documents, standard operating procedures, corporate authorization matrix, and pricing policy documents; including collaboration with Enterprise Risk & Control Team
• Responsible for updating, deployment, and adherence to tools and resources including account linkages, bid models, templates, fee schedules, pricing systems, workflow management tools
• Responsible for collaboration with other teams across the enterprise to ensure externally supported tools are regularly updated, including family/profile/more-for-more/less-for-less pricing logic, Medicaid tools, Group Purchasing Organization tracking/administrative fees/fee schedules, Laboratory Cost of Testing and workflow management tools including HBOT and OneQuest
• Collaborates cross-functionally to identify and mitigate Group Purchasing Organization contract risk; leads the effort to operationalize customer level analyses and proposal documents to achieve and maintain contract compliance

• Requires a bachelor's degree in Finance, Accounting, Economics, Marketing, Business, or equivalent
• MBA strongly preferred
• 15+ years of business experience, preferably in healthcare industry
• 10+ years of management experience
• 5+ years of B2B Pricing experienced in value-based pricing organizations
• Evidence of successfully leveraging process improvement initiatives & principles to drive change and deliver sustainable results
• Evidence of successfully leading teams of direct reports and delivering quantifiable results
• Evidence of leading cross-functional initiatives and delivering successful outcomes
• Exceptional presentation skills, concise and fluent in communication
• History of presenting recommendations and obtaining buy-in from key stakeholders
• Strategic/critical thinking; analytical mindset with ability to synthesize information from multiple sources, form recommendations with supporting rationale
• Effective framing and influencing; distill complex information and succinctly articulate key insights
• Acts with urgency, manages multiple deadlines on a daily basis
• People leadership: increase productivity, promote interconnectivity between teams, development of team members, talent retention, employee engagement & satisfaction
• Business/financial acumen
• Deal negotiation
• Innovative thinking to work effectively cross-functionally in a matrixed environment
• Excellent interpersonal and communication skills (oral and written)
• Strong PC skills (Microsoft Office Suite)
• Demonstrated creative thinking, problem solving and organization skills
• Strong Financial acumen and analytical capabilities
• Solid business judgement, strong critical thinking, and analytical ability to create and determine recommendations and make decisions.
• Strong interpersonal skills, team-work oriented and ability to work successfully in a matrixed, highly collaborative, and fast paced work environment
• Ability to work independently and drive projects from start to finish
• High energy level, self-driven and able to handle multiple projects and proposals simultaneously
• Must pass applicable Quest Diagnostics Pricing tests

Competencies

• Strategic/Critical Thinking
• Framing and Influencing
• People Leadership
• Business/Financial Acumen