The MLabs Business Development Manager is a key member of the MLabs leadership team (Director, Associate Director, Administrative Manager and Business Development Manager) and provides leadership in demonstrating the MLabs brand as well as establishing and maintaining the culture of the business development team consistent with Michigan Medicine values. The MLabs Business Development Manager’s primary purpose is to grow mutually beneficial partnerships with potential clients whose interests are aligned with the Department of Pathology and Michigan Medicine.
The Business Development Manager participates in and contributes to the development of the overarching MLabs Strategic Plan and is responsible for creation and regular revision of the MLabs Business Development Plan. The Business Development Manager is responsible for execution of all business development activities directly or through delegation, to ensure expansion of MLabs geographic presence, support academic and research initiatives of the Department of Pathology and Michigan Medicine more broadly, and to ensure the growth of both gross revenue and net profit in support of the Department Mission. The Business Development Manager must have a deep and broad understanding of laboratory testing costs, reimbursement and financial compliance information. The Business Development Manager provides strategic vision and managerial oversight to three channels within MLabs Division; Sales, Marketing and Finance.
-Participate in strategic planning. Create MLabs Business Development Plan, including financial goals and performance metrics for business unit. Implement strategies for business development that supports short and long rang strategic initiatives.
-Provide Leadership on a quarterly basis with MLabs financial and business metrics to evaluate performance against strategic initiatives.
-Monitor reference laboratory industry developments (e.g., competitors, new technology, payer reimbursement shifts) to assist strategic planning and offer recommendations for new test or service line offerings.
-Create relationships with external hospital and commercial lab executives, laboratory administrators, pathologists and physicians to foster new business opportunities.
-Provide strategic management and leadership to existing client accounts to ensure service expectations are met, relationships remain strong and MLabs is positioned for evolving client needs.
-Following MM contracting guidelines and template, through the MM Contracting Office, and MM Legal, negotiate all client contracts through full execution. In the same manner, amend existing client contracts as needed.
-Provide guidance regarding marketing initiatives to ensure marketing and sales efforts are coordinated and in line with business initiatives.
-Understand and memorialize lead to close to account management process for each market segment; with timelines and mechanisms for accelerating sales cycle and resolving sales stalls.
-Receive and respond (directly or indirectly) to Requests for Proposal for reference and other laboratory services.
-Set and revise client fee schedules; working with the vetted cost data from MM Department of Pathology Finance.
-Provide oversight of revenue cycle from existing client accounts to ensure timely client statements and payments.
-Supervise three (3) direct reports – MLabs Brand Analyst, MLabs Senior Sales Representative, and MLabs Financial Analyst.
-Responsible (directly or indirectly) for all subordinate staff activities related to human resource management (recruitment, hiring, on-boarding, promotion, salary changes, performance coaching, disciplinary actions, mandatory competencies and annual evaluations).
-Promote employee job satisfaction and professional growth.
-Build team engagement with focus on trust and cooperation.
-Develop or contribute to the development of training materials and content for use in on-boarding, training and facilitating sales and marketing personnel.
-Support marketing efforts.
-Contribute to and/or approve standardized presentation materials for clients within each market segment.
-Manage risk for organization via knowledge, relationships with legal and compliance.
-Bachelor Degree in Medical Technology, Business Administration, Healthcare Administration, or related field.
-Minimum five (5) years of executive level experiences including strategic planning and business plan development.
-Demonstrated success negotiating and closing a variety of agreements within reference laboratory business or related healthcare industry.
-High level of competency in business acumen, impact and influence, and networking.
-Exceptional written and verbal communication skills.
-Knowledge of hospital organization, laboratory medicine, legal and regulatory requirements pertinent to compliance and laws applicable to the reference laboratory industry.
-Skilled as an exceptional relationship builder developing collaborative teams within small groups and throughout an organization.
-Superb work ethic, with a drive to exceed expectations s and a commitment to personal accountability and ownership.
-Demonstrated commitment to diversity, equity and inclusion.
-Master's degree in Medical Technology, Business Administration, Healthcare Administration, or related field.
-Ten (10) years demonstrated business development experience in Reference Laboratory Industry.
PLEASE APPLY TO POSTING DIRECTLY ON UNIVERSITY OF MICHIGAN'S CAREERS WEBSITE. Job #154131: http://careers.umich.edu/job_detail/154131/admin_manager_inter_healthcare
Internal Number: 154131
About MLabs @ University of Michigan
MLabs is a full-service reference laboratory and part of one of the largest health care complexes in the world, The University of Michigan.
With the guiding vision of driving tomorrow’s health care solutions with cutting edge personalized laboratory information and consultation, MLabs functions as a portal to provide easy access to the expertise and sophisticated testing needed for pathologists, clinicians, health care systems, and commercial laboratories to meet today’s diagnostic challenges.
By being a true partner with our clients, MLabs has become a recognized leader for advance diagnostic testing, helpful consultations and exceptional client service. Our promise and commitment is to deliver the highest quality laboratory results to meet the needs of today’s patients in a cost effective and personalized manner.