Contracts Administrator

The Contract Administrator is a key position within the Managed Care Department.
The Managed Care Administrator reviews all documents including Labcorp’s standard Managed Care Laboratory Services Agreement, Third Party Agreements, Amendments, Addendums or Extensions to an existing contract or agreement, Non-disclosure Agreements, Work Orders and Statements of Work (SOW), Letters of Intent (LOI), Letters of Agreement (LOA), Memorandums of Understanding (MOU), Term Sheets and Responses to Bids, Requests for Proposal (RFP) or Requests for Information (RFI).
RESPONSIBILITIES · Create and/or edit a document that is consistent with Managed Care Review Committee (MCRC) approval and the terms negotiated by the Managed Care Representative.
Ensure the document has been reviewed and approved by Legal and all terms are approved or modified to meet legal approval.
Maintain documents and update databases.
Documents and associated work papers must be maintained for access and easy retrieval.
Appropriate databases must be updated and maintained to include contracts management system and the Managed Care Contract Terms Worksheet.
Assist the Managed Care Representative with defined tasks to meet the obligations of the Managed Care Agreements.
· The Contract Administrator must ensure that pricing terms have been submitted and received approval from the MCRC or its designee if required.
The document must be updated to reflect MCRC pricing terms and, in coordination with the Managed Care Representative, be consistent with negotiated terms submitted on the Contract Term checklist.
If specific terms are outliers with Labcorp standard policies or practices, necessary approvals must be provided by the Managed Care Representative and filed into the contract management system.
· Agreements requiring Law Department approval shall be forwarded to the Law Department after the Contract Administrator reviews and redlines proposed changes to the documents.
Once reviewed for changes and financial approval, the responsible attorney shall identify the contract as approved through contract management system or by communicating in writing that the version of the agreement has been reviewed and approved.
An agreement may be approved provided certain changes/corrections are made.
It is the responsibility of the Contract Administrator to ensure that the changes/corrections are made prior to document execution.
The Contract Administrator shall be responsible for ensuring that the contract is signed by an authorized representative of Labcorp and for ensuring that a fully executed original is returned.
If the agreement is not approved, then the Contract Administrator must work with the Managed Care Representative to explain key issues for discussion with the client.
· All managed care documents must be maintained in a manner in which they can be produced upon limited notice.
Upon execution, all agreements and supporting documentation including but not limited to correspondence concerning negotiations, necessary approvals of Senior Management, MCRC and the Law Department must be kept and maintained by the appropriate contract administrator within the contract management system record.
The Managed Care Contract Terms Worksheet must be updated with the final terms and pricing.
· To ensure that all requirements of the Managed Care Agreements are met, the Contract Administrator may assist Managed Care Reps to perform required tasks such as PSC and financial reporting.
REQUIREMENTS · Basic understanding of Managed Care and contract terms · Knowledge of Access, Word and Excel · Basic understanding of state and federal insurance laws/regulations · Ability to draft legal language · Paralegal optional Application window will close 02/28/2024.
Pay Range: $45,594 - $87,800 annual salary Work Schedule: Monday – Friday 8am-5pm Work Location: Remote work is available Benefits: All job offers will be based on a candidate’s skills and prior relevant experience, applicable degrees/certifications, as well as internal equity and market data.
Regular, full-time or part-time employees working 20 or more hours per week are eligible for comprehensive benefits including: Medical, Dental, Vision, Life, STD/LTD, 401(K), ESPP, Paid time off (PTO) or Flexible time off (FTO), Commissions, and Company bonus where applicable.
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Labcorp is proud to be an Equal Opportunity Employer: As an EOE/AA employer, Labcorp strives for diversity and inclusion in the workforce and does not tolerate harassment or discrimination of any kind.
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We encourage all to apply.
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