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Revenue Optimization Analyst
2 months ago
Overview:
The primary objective of the Revenue Optimization Analyst role is to support the Sales team in crafting an effective pricing strategy and managing the proposal development process for healthcare clients.
The individual will be tasked with comprehending client requirements, establishing the initial Sales pricing framework, assessing prevailing market dynamics, and formulating suggested pricing structures.
Additional operational responsibilities will include:mapping tests, reviewing pricing protocols, completing profit and loss statements, and assessing client profitability.
Responsibilities:
Assist the Hospital Business with pricing and profitability evaluations, focusing on maintaining profitable client relationships and acquiring new business opportunities.
Collaborate closely with Sales to grasp customer requirements and devise a tailored pricing strategy, effectively communicating this strategy to gain Sales support.
Examine customer segmentation data utilizing pricing tools to create specific pricing proposals. Ensure that proposed pricing adheres to established corporate standards.
Generate profit and loss statements for new proposals, illustrating their impact on existing business and potential for upselling, for management review and approval.
Provide sales-related insights to Account Analysts within the Business Units, indirectly aiding their pricing and profitability initiatives.
Conduct test code mapping of client usage to Quest test codes, Affiliate lab test codes, and competitor codes. Perform quality assurance checks on high-volume test mappings.
Implement accepted pricing proposals by coordinating necessary changes with the billing department.
Assist the Regional Finance Director or Pricing Director with ad-hoc pricing analyses and administrative tasks related to the Hospital Business.
Support the Hospital Business with pricing evaluations concerning Group Purchasing Organizations, Managed Care Accounts, and other National Accounts as required.
Provide analytical assistance for special projects or additional assignments as necessary.
Qualifications:
Bachelor's Degree in Accounting, Finance, or Marketing.
Minimum of 2 years of experience in financial analysis, revenue management, or profitability assessment.
Proficient in Excel, with strong problem-solving abilities, analytical skills, and effective planning and organizational capabilities.
Demonstrated capacity to manage multiple priorities across various clients while exhibiting flexibility and teamwork.
Exceptional communication skills to articulate quantitative results at all organizational levels.
Ability to work independently with minimal oversight.
Willingness to work additional hours to meet client expectations as necessary.
EEO:
Quest Diagnostics is committed to equal employment opportunities.
Our policy is to recruit, hire, and promote qualified individuals without regard to race, color, religion, sex, age, national origin, disability, veteran status, sexual orientation, gender identity, or any other status protected by state or local law.
Quest Diagnostics adheres to minimum age requirements established by federal, state, and/or local laws and may request verification from applicants when deemed necessary.
