Executive Director, Revenue Cycle Management Finance (Hybrid)

At Labcorp, you are part of a journey to accelerate life-changing healthcare breakthroughs and improve the delivery of care for all.  You’ll be inspired to discover more, develop new skills and pursue career-building opportunities as we help solve some of today’s biggest health challenges around the world.  Together, let’s embrace possibilities and change lives!

Executive Director, RCM Finance - Hybrid

The RCM Finance Business Partner plays a critical role in supporting the financial health and operational efficiency of the Revenue Cycle Management (RCM) organization. This role serves as a strategic liaison between Finance and RCM operations, ensuring accurate financial reporting, compliance, and insightful analysis to drive informed decision-making. This role serves as a lead for revenue close activities, including Accounts Receivable Close, bad debt allowances and reserve position analyses, ensuring accurate and timely net revenue recognition under GAAP/ASC 606 and compliance with SOX controls.

Key Responsibilities:

Financial Planning & Analysis

• Manage an annual operating budget for the RCM division, ensuring cost efficiency and alignment with corporate financial objectives.
• Oversee workforce planning and vendor management for a global team of onshore and offshore resources.
• Implement cost optimization strategies, including automation, process improvement, and vendor performance management.
• Provide budget forecasts & variance analysis.
• Partner with RCM operational areas to perform financial analyses, what-if scenarios, and support to improve cost optimalization.
• Subsidiary Finance support (non-lcbs Trade AR account balancing and GL for subsidiary locations)

Accounting & Audit

• Oversee General Ledger (GL) and Accounts Receivable (AR) accounting processes related to RCM.
• Ensure timely and accurate month-end revenue close, including journal entries and reconciliations.
• Serve as the primary liaison for internal and external audits, ensuring documentation and responses are complete and timely. Including quarterly and annual audits.
• Maintain and enhance SOX controls related to RCM financial processes.
• Partner with Corporate Accounting and External Auditors to validate assumptions and ensure compliance with GAAP and SOX.

Revenue month-end close

• Evaluation of LCBS revenue adjustments impacting PPA (SOX control); research and document
• Analysis of Payer Recoupment activity to recommend recoup reserve %
• Determine appropriate refund reserve balance based on activity
• Analysis of multiple revenue and AR accruals and generation of entries
• Approval of system adjustments and payer refunds

Reserves & Reporting

• Lead reserve analyses for bad debt, contractual allowances, and other RCM-related accruals.
• Lead reserve position analysis for the company, including monthly true-ups, sensitivity modeling, and executive reporting.
• Ensure accuracy and transparency in financial statements and operational metrics.
• Partner with Corporate Accounting/Controllership to align on policies, SOX/internal controls, and external audit support.
• Establish and continuously improve close calendars, and controls, ensuring audit readiness and a consistent global approach across entities and service lines.
• Cash liquidation analysis

Process Improvement & Compliance

• Drive continuous improvement in reconciliation and close processes.
• Collaborate with cross-functional teams to ensure compliance with accounting standards and regulatory requirements.
• Support policy development and implementation for financial controls and reporting.

Qualifications:

• Bachelor’s degree with 10+ years of relevant financial management experience preferred (accounting, financial modeling, analysis and reporting, forecasting and budgeting experience), with a large global company within a service industry.
• CPA and MBA Preferred
• Prior experience with ownership and management of SOX controls strongly preferred
• Prior experience influencing and communicating with leadership of a global company strongly preferred.
• Ability to team effectively with executive leadership, finance leadership and operational leadership.
• Willingness to "roll up the sleeves" in terms of problem solving and improvement actions.
• Experience with process efficiencies and lean organizations.
• Fully conversant in financial statements, accounting theory and practice.
• Highly competent in Microsoft Office, particularly Microsoft Excel and PowerPoint.
• Experience with high end financial repo