Full-Time

Contract Analyst

Posted on 9/18/2024

Medtronic

Medtronic

10,001+ employees

Develops and manufactures medical devices and therapies

Biotechnology
Healthcare

Compensation Overview

$64.8k - $97.2kAnnually

+ Short-term Incentive (Medtronic Incentive Plan)

Entry, Junior

Brooklyn Park, MN, USA + 1 more

More locations: Minneapolis, MN, USA

Hybrid role requiring on-site presence in Fridley/Minneapolis.

Category
Strategy Development
Business Development
Business & Strategy
Requirements
  • Bachelors degree required
  • Minimum of 2+ years of relevant experience, or advanced degree with no years of relevant experience required
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

1949

Simplify Jobs

Simplify's Take

What believers are saying

  • Adoption of AI in medical imaging boosts Medtronic's diagnostic technology efficiency.
  • Telehealth expansion offers growth in digital health solutions for chronic disease management.
  • Personalized medicine trend aligns with Medtronic's focus on patient-specific device innovation.

What critics are saying

  • Emerging competitors like Anteris challenge Medtronic's market share with new funding.
  • Spine biologics market growth demands rapid innovation to maintain competitive edge.
  • Departure of key personnel like Ira Bindra may impact talent management strategies.

What makes Medtronic unique

  • Medtronic's global presence in over 150 countries enhances its market reach.
  • Strong R&D investment drives innovation in cardiovascular, diabetes, and neurological technologies.
  • Comprehensive product and service offerings improve patient outcomes and reduce healthcare costs.

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