Contract Analyst at Medtronic

Minneapolis, Minnesota, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Healthcare, Medical DevicesIndustries

Requirements

Clear and persuasive communication skills, time management skills, adaptability, patience, effective listening
Analysis of Fair Market Value (FMV) supporting budget development, negotiation, and documentation
Comprehensive understanding and application of clinical contracting and negotiation principles, concepts, and industry practices/standards
Thorough understanding and solid application of clinical trial industry practices, including thorough understanding of clinical trial agreements and budgeting process and/or vendor and consulting agreements and processes
Ability to work independently and refer to established Medtronic policies, practices, and templates for guidance as needed
Sound critical thinking skills to review contract redlines for understanding and intent
Ability to manage complex contract negotiations, escalate as needed (e.g., from email to telephone), involve internal parties, and manage cycle times
Ability to draft contract language using legal-approved templates and secure approvals
Ability to effectively manage multiple contracting priorities, exert influence, meet with stakeholders, and provide proactive status updates
Ability to proactively manage workload in accordance with study milestones
Frequent interaction and communication with internal customers/clients (including senior management) and external parties

Responsibilities

Drafting, issuing, negotiating, and finalizing a variety of clinical agreements (including budgets) utilizing enterprise-wide contracting processes
Executing high-quality clinical agreements in a timely manner that balances the needs of all parties while maintaining internal and external relationships
Conducting all clinical agreement work in accordance with company policies, Standard Operating Procedures (SOPs), legal and regulatory requirements, and using fair market valuation
Liaising with clinical teams, legal, reimbursement, and other functional groups on clinical agreements and informed consents as appropriate
Conducting outsourcing proposal preparation and analysis, contract development and negotiation, contract administration, and supplier contact activities to provide for proper outsourcing contract execution and fulfillment
Tracking progress of contract activities, providing status updates to internal and external parties, compiling and analyzing contract data, and maintaining historical contract information
Managing complex contract negotiations and escalating as needed to progress negotiations while managing cycle times
Drafting contract language per approved process using legal-approved templates and securing legal approval as required; seeking input from manager or senior team members
Reviewing contract redlines, making recommendations, and securing input from legal, manager, and/or clinical team before responding
Serving as a project leader for new or existing studies (with manager review/input)
Effectively managing multiple contracting priorities to ensure timely execution and providing regular status updates to study team members and stakeholders

Skills

Contract Drafting

Contract Negotiation

Fair Market Value Analysis

Budget Development

Clinical Agreements

Contract Administration

Customer Service

Time Management

Clear Communication

Outsourcing Proposals

Medtronic

Develops and manufactures medical devices and therapies

About Medtronic

Medtronic provides medical technology, services, and solutions to improve patient care. The company develops a variety of medical devices, including pacemakers, insulin pumps, surgical tools, and neurostimulation devices, which help diagnose, prevent, and treat chronic diseases. These products are used by hospitals, clinics, and healthcare professionals around the world. Medtronic stands out from competitors by investing significantly in research and development to create new products and offering additional services like training and patient management programs. The goal of Medtronic is to enhance patient outcomes and lower healthcare costs through its comprehensive range of medical solutions.

Fridley, MinnesotaHeadquarters

1949Year Founded

$3.2MTotal Funding

IPOCompany Stage

Biotechnology, HealthcareIndustries

10,001+Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Health Savings Account/Flexible Spending Account

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Paid Holidays

401(k) Retirement Plan

401(k) Company Match

Employee Stock Purchase Plan

Employee Assistance Program

Wellness Program

Risks

Emerging competitors like Fire1 threaten Medtronic's heart failure management market share.

Spine biologics market growth may attract new entrants, increasing competition for Medtronic.

Recent IPOs in medtech indicate rising competition, challenging Medtronic's market position.

Differentiation

Medtronic's diverse product range spans cardiovascular, diabetes, neurological, and surgical technologies.

The company invests heavily in R&D to drive innovation in medical devices.

Medtronic offers comprehensive services, including training and technical support, enhancing product value.

Upsides

Exclusive deal with Kuros enhances Medtronic's orthopedic portfolio and market share.

Growing spine biologics market offers expansion opportunities in spinal fusion and regenerative medicine.

Balloon catheters market growth aligns with Medtronic's recent product launches, boosting cardiovascular presence.

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