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

High School Diploma or equivalent with 4+ years of relevant experience in Contracts or Pricing or equivalent experience
OR Associate's Degree with 2+ years experience
OR Bachelor’s Degree with 1+ year(s) experience
Nice to Have
Bachelor’s degree in Business, Finance, Economics or Math
High proficiency in analytical skills, ability to manipulate and interpret data
Excel analysis, including formulas, charts, graphs, and functions
Experience in sales, marketing, purchasing, healthcare or related areas
Solid business acumen and judgment
Tactful, exercises independent judgment and discretion
Ability to work in fast paced environment with high attention to detail
Strong relationship building, communication and interpersonal skills
Works independently and takes ownership from start to finish

Responsibilities

Collaborate with sales, legal, pricing, and marketing teams to negotiate and establish pricing strategies for standard and custom products for customer contracts
Conduct thorough analysis of market trends, competitor insights, and customer needs to inform pricing decisions
Influence decision-making processes to optimize profitability and market positioning
Own strategic contracting for specific therapies and customers across the US
Lead the creation and execution of contracts encompassing price analysis, contract drafting, business reviews, and compliance monitoring
Partner with the Field Sales Organization and Medtronic customers to facilitate effective communication and execution of strategic initiatives
Collaborate with internal stakeholders to ensure alignment with business objectives through regular reviews and proactive recommendations to drive alignment to growth and margin goals
Partner with Contracting Support teams to ensure accurate and timely contract administration
Champion bid response through analysis of market trends and customer needs to identify opportunities for optimized pricing strategies that align with Medtronic's overall business goals
Manage customer quotation and bid requests, ensuring adherence to Medtronic’s pricing objectives and contracting standards while maintaining a competitive edge
Oversee the entire lifecycle of negotiated contracts from strategy to implementation to expiration
Ensure accurate application of pricing and product strategies, proactively target renewals, price increases, and track performance to commitment to maximize financial outcomes
Leverage deep understanding of business strategies and market dynamics to enhance operational effectiveness
Ensure compliance with all relevant laws, regulations, and company policies
Maintain a broad organizational perspective, considering the impact of decisions on the entire enterprise and engaging in special projects that contribute to overarching business goals

Skills

pricing strategies

contract negotiation

market analysis

competitor analysis

contract drafting

business reviews

compliance monitoring

sales collaboration

strategic contracting

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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