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Mid-Market Account Executive (Payments)

About the Company

Our client is a cutting-edge Series A fintech startup ($34M in funding) revolutionizing the healthcare payments industry. As a YC-backed company, they are at the forefront of healthcare technology, providing innovative solutions for patient billing and collections. Their platform helps healthcare providers streamline their billing processes, improve patient collection rates, and enhance the overall patient financial experience.

The company's software integrates seamlessly with various Electronic Health Record (EHR) and Practice Management (PM) systems, making it an ideal solution for private practices, urgent care centers, hospitals, and health systems. By automating the entire post-service Patient AR process, our client's technology significantly boosts self-pay and after-insurance-responsibility engagement.

  • Location: San Francisco, CA (hybrid 3 days per week)

  • Industry: Fintech, Payments, SaaS

  • Target market: Mid-Market (250-2500 employees)

  • ACV 150k-200k

  • Sales cycle 3-6 months

Our client's mission is to transform the medical billing landscape by creating a transparent, predictable, and convenient patient financial experience that actually gets healthcare providers paid. They aim to demystify the medical billing process, boost patient collection rates, and improve the overall patient billing experience while allowing healthcare providers to maintain their current EHR/PM practices.

The Opportunity

We are seeking a Mid-Market Account Executive to join our client's dynamic sales team. This role offers an exciting opportunity to be part of a rapidly growing startup (3x year-over-year) that is making a significant impact in the healthcare technology sector. You will play a crucial role in driving the company's growth by closing deals with mid-sized healthcare organizations.

What You'll Do

  • Manage the full cycle sales, from prospecting to closing

  • Meet or exceed sales quotas through outbound efforts and new logo generation

  • Sell to key decision-makers in Mid-market healthcare organizations 

  • Collaborate with cross-functional teams to ensure successful implementation and customer satisfaction

  • Contribute to the company's growth strategy and help refine sales processes

What You Bring

  • At least 5 years of experience in Fintech or B2B SaaS sales, with a minimum of 2 years in full-cycle sales

  • Proven track record of achieving and exceeding sales targets

  • Experience closing deals in the $80K-$500K ACV range in the Mid-Market segment (250-2500 employees)

  • Ability to generate at least 70% of the pipeline through self sourcing new logos

  • Experience managing sales cycles of 3 months or longer

  • Consultative sales approach and the ability to navigate complex sales cycles

  • Ideally, experience selling to Operations and Finance teams (COO, CFO, CEO) 

  • Proficiency in sales tools and software (Salesforce, Salesloft, Outreach, Groove)

  • Exceptional communication, negotiation, and presentation skills

  • Ability to work from the office in Downtown San Francisco, CA, 3 days a week (Tuesday-Thursday)

Key Success Drivers

  • Self-starter mentality with a problem-solving approach

  • High energy and competitive spirit

  • Strong communication skills and attention to detail

  • Team player who can thrive in a startup environment

Why Join?

  • Employment type: Full-time W2

  • Base compensation: $120,000 - $150,000 (negotiable based on experience) 

  • OTE (On-Target Earnings): $250,000 - $420,000 (uncapped commission)

  • Comprehensive benefits: Full medical, dental, and vision coverage for employees and families

  • 401(k) plan with a 3% match 

  • Stock options plan

  • Unlimited PTO 

  • Work-life balance and hybrid work environment (3 days in office, 2 days remote) 

  • All necessary equipment, including a laptop and headset, is provided

  • Career growth opportunities in a fast-growing startup 

  • Attendance at top-tier industry events to expand your network

  • Supportive culture: join a team that values feedback, continuous learning, and collaboration

Interviewing Process

  • Level 1 - Virtual interview with the Hiring Manager (General fit)

  • Level 2 - Virtual interview with the VP, Head (Sales role play) 

  • Level 3 - In-person interview at the office (Final)  

  • Reference and Background Checks: conducted after successful interviews

  • Job Offer: provided to the selected candidate

We are proud to be an equal opportunity workplace and are committed to equal employment opportunity regardless of race, color, religion, national origin, age, sex, marital status, ancestry, physical or mental disability, genetic information, veteran status, gender identity, or expression, sexual orientation, or any other characteristic protected by applicable federal, state or local law.

Average salary estimate

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What You Should Know About Mid-Market Account Executive (Payments), Lavendo

Are you passionate about healthcare technology and ready to make a real impact? Join our client's team as a Mid-Market Account Executive in San Francisco! This cutting-edge fintech startup is on a mission to revolutionize the healthcare payments industry with their innovative solutions designed to streamline patient billing and collections. As a Mid-Market Account Executive, you will be on the frontlines, driving growth by reaching out to mid-sized healthcare organizations and closing deals that take their billing processes to the next level. You'll have the chance to manage the entire sales cycle from prospecting to closing, engage with key decision-makers, and collaborate with cross-functional teams to ensure satisfaction after implementation. With a strong track record in fintech sales and a consultative approach, you will thrive in this dynamic role where your efforts directly contribute to improving patient financial experiences. Our client offers a competitive salary and uncapped commissions, all while ensuring a balance between work and life in a supportive culture. If you’re excited by the opportunity to help transform the medical billing landscape, we want to hear from you!

Frequently Asked Questions (FAQs) for Mid-Market Account Executive (Payments) Role at Lavendo
What are the responsibilities of a Mid-Market Account Executive at this fintech startup?

As a Mid-Market Account Executive at our client’s fintech startup, you will be responsible for managing the full sales cycle, which includes prospecting, pitching, and closing deals with mid-sized healthcare organizations. You will engage with key decision-makers, collaborate with cross-functional teams, and contribute to refining sales processes and overall growth strategies.

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What qualifications are needed to apply for the Mid-Market Account Executive position?

To apply for the Mid-Market Account Executive position at our client, you should have at least five years of experience in fintech or B2B SaaS sales, specifically with two years of full-cycle sales experience. A proven track record of exceeding sales targets, especially within the mid-market segment with deal sizes ranging from $80k to $500k, is also essential.

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How does the sales cycle work for the Mid-Market Account Executive role?

The sales cycle for this role typically ranges from 3 to 6 months. As a Mid-Market Account Executive, you will need to generate at least 70% of your pipeline through self-sourcing new logos and navigate the complexities of the sales cycle, with the aim of efficiently closing deals with mid-sized healthcare organizations.

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What is the compensation structure for the Mid-Market Account Executive role?

The compensation structure for the Mid-Market Account Executive includes a base salary ranging from $120,000 to $150,000, negotiable based on your experience. On-target earnings, which include uncapped commission opportunities, can range from $250,000 to $420,000.

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What is the work environment like for the Mid-Market Account Executive at this startup?

The work environment for the Mid-Market Account Executive is hybrid, with the expectation to work in the downtown San Francisco office three days a week. Our client promotes a collaborative culture, ensuring a balanced approach to work and personal life, with ample support and resources for career growth.

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Common Interview Questions for Mid-Market Account Executive (Payments)
Can you describe your experience with full-cycle sales in the fintech industry?

When answering, provide specific examples of your past roles where you managed the entire sales process, from lead generation to closing deals. Highlight successful deals and the strategies you employed to navigate challenges.

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How do you approach prospecting for new clients?

Discuss your methods for identifying and reaching out to potential clients in the mid-market segment. Mention tools or strategies you utilize to build relationships and engage key decision-makers.

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What strategies do you employ to meet or exceed sales quotas?

Share your proven techniques for setting personal sales goals and tracking progress. Include how you prioritize leads and manage your pipeline effectively to maintain momentum towards achieving quotas.

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Describe a time when you had to navigate a complex sales cycle.

Provide a detailed account of a specific complex sale, outlining the steps you took to resolve challenges, engage stakeholders, and ultimately close the deal. This showcases your problem-solving skills and strategic thinking.

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How do you ensure client satisfaction during the implementation phase?

Talk about your ability to collaborate with cross-functional teams and how you maintain communication with clients to address any concerns during the implementation of solutions, ensuring that they achieve expected outcomes.

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What does a consultative sales approach mean to you?

Emphasize your belief in understanding the client’s needs and tailoring solutions effectively. Discuss examples of how you have used this approach to build strong relationships and close deals.

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How would you handle objections from potential clients?

Describe your approach to objections, highlighting the importance of active listening, empathizing with clients, and using objection-handling techniques to guide them toward a solution that demonstrates value.

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What tools and software are you experienced with in managing sales processes?

Detail the sales tools and software you have used in previous roles, such as Salesforce or Outreach. Discuss how these tools have helped you streamline processes and improve efficiency in your sales efforts.

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How do you stay updated on industry trends and changes?

Share your methods for keeping current with fintech trends, whether through industry publications, networking, or attending events. This illustrates your commitment to continuous learning and adaptability in a fast-paced environment.

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What motivates you in a sales role, particularly in the healthcare payments industry?

Reflect on your passion for healthcare technology and how making a difference in the medical billing landscape drives you to achieve your best. Discuss specific motivations, such as financial incentives or seeing clients succeed.

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DATE POSTED
December 21, 2024

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