Full-Time

Sr Contract Analyst

Posted on 9/18/2024

Medtronic

Medtronic

5,001-10,000 employees

Develops and manufactures medical devices and therapies

Biotechnology
Healthcare

Compensation Overview

$80k - $120kAnnually

+ Short-term incentive (Medtronic Incentive Plan)

Senior

Brooklyn Park, MN, USA + 1 more

More locations: Minneapolis, MN, USA

Hybrid role based in Mounds View campus, requires on-site presence.

Category
Project Management
Business Development
Business & Strategy
Required Skills
Sales
Marketing
Requirements
  • Bachelor’s degree required with minimum of 4+ years of relevant experience, or Advanced degree with minimum of 2 years relevant experience
  • 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.

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 and healthcare professionals around the world. Medtronic stands out from competitors by not only focusing on product development but also offering comprehensive services such as training for healthcare providers and patient management programs. The goal of Medtronic is to enhance patient outcomes and lower healthcare costs through their advanced medical solutions.

Company Stage

IPO

Total Funding

$3.2M

Headquarters

Fridley, Minnesota

Founded

N/A

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
Simplify Jobs

Simplify's Take

What believers are saying

  • Medtronic's recent product innovations, such as the InterStim Micro Neurostimulator and remote monitoring systems, highlight its commitment to advancing medical technology.
  • The company's expansion in Asia, including the launch of the Robotics Experience Studio, indicates strong growth potential in emerging markets.
  • Strategic partnerships and acquisitions, like the collaboration with Ramsay Health Care and the acquisition of Paceart Optima, enhance Medtronic's capabilities and market position.

What critics are saying

  • The highly competitive medical technology market requires Medtronic to continuously innovate to maintain its leadership position.
  • Integration challenges from acquisitions and partnerships could potentially disrupt operations and delay product development.

What makes Medtronic unique

  • Medtronic's extensive R&D investment enables continuous innovation in medical technology, setting it apart from competitors who may not have the same level of resources.
  • The company's global reach, operating in over 150 countries, provides a significant advantage in market penetration and customer base.
  • Medtronic's comprehensive suite of products and services, including training and patient management programs, offers a holistic approach to healthcare that many competitors lack.

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