Senior Contract Analyst at Medtronic

Minneapolis, Minnesota, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Medical Devices, HealthcareIndustries

Requirements

Ability to quickly build relationships with cross-functional and internal partners
Work both independently and collaboratively
Influence contracting decisions
Learn tools and processes to Subject Matter Expert (SME) level
Understand key financial impacts on Medtronic business, competition, and marketplace
Understand how business strategies and tactics enhance opportunities to operate effectively
Understand and comply with all laws, regulations, internal Legal guidance, and/or company policies
Maintain historical documentation and document retention tools

Responsibilities

Provide contract life cycle support to Neuromodulation and Pain Interventions Operating Units
Provide contract and pricing analytics and operational support to Field Sales Organization, Enterprise Accounts, and Region Contract Managers
Draft custom and standard contracts for individual customers, regional hospitals, IDNs, Ambulatory Surgery Centers (ASCs), and ASC management firms
Build customer-specific contract and pricing strategies
Conduct financial analysis to support pricing, contracting, rebate, and new product launch strategies
Perform contract administration for the region in collaboration with Region Contract Manager, Finance, and Pricing Strategy Team
Develop, negotiate, and execute pricing strategies and analytics that align with business leadership in response to customer pricing requests, ensuring pricing governance model is followed
Influence contracting decisions across Neuromodulation and Pain Interventions and represent contracting at cross-functional meetings
Provide ad hoc impact analyses of implementing new pricing and more
Execute and monitor negotiated contracts from implementation to expiration to ensure appropriate pricing is applied to sales orders
Proactively identify root cause, issues, and gaps to reduce pricing discrepancies and increase customer satisfaction
Track performance on rebate/compliance contracts and analyze compliance to determine appropriate rebates

Skills

Contract Management

Contract Lifecycle Management

Pricing Analysis

Neuromodulation

Pain Interventions

Cross-Functional Collaboration

Sales 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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