- Professional
- Office in Minneapolis
At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You’ll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.
A Day in the Life
At Medtronic, we bring bold ideas forward with speed and decisiveness to put patients first in everything we do. In-person exchanges are invaluable to our work. We’re working a minimum of 4 days a week onsite as part of our commitment to fostering a culture of professional growth and cross-functional collaboration as we work together to engineer the extraordinary.At Medtronic, we not only get the opportunity to help manage contracts and pricing for Neuromodulation and Pain Interventions products for the largest medical device company in the world, but we also get to experience the immense sense of purpose that comes from knowing that the therapies we represent helps alleviate pain, restore health, and extend lives of millions of patients across the world. The work we do supports the Medtronic Mission, and it matters.
As a key member of the Contracting Team, you will support the objectives of the Americas Region by leveraging effective and efficient contracting efforts while continually improving best in class execution. Team members are encouraged to be accountable for details and proactively tackle challenges by bringing forward contracting and system solutions. The ideal candidate will be able to quickly build relationships with both cross functional partners as well as internal partners, work both independently and collaboratively, and influence.
This role as a Senior Contract Analyst is an integral role responsible for providing contract life cycle support to the Neuromodulation and Pain Interventions Operating Units. Work is done in a sales region with OU partners, providing contract and pricing analytics and operational support to the Field Sales Organization, Enterprise Accounts and Region Contract Managers. This support includes the drafting of custom and standard contracts for individual customers, regional hospitals, IDN’s, Ambulatory Surgery Centers (ASCs), and ASC management firms. Responsibilities also include building customer specific contract and pricing strategies and conducting other financial analysis to support pricing, contracting, rebate and new product launch strategies as needed.
Responsibilities may include the following and other duties may be assigned.
- Contract administration for the region in collaboration with the Region Contract Manager, Finance, and the Pricing Strategy Team. This includes helping to develop, negotiate and execute on pricing strategies and analytics that align with business leadership in response to customer pricing requests and ensuring the pricing governance model is followed.
- Influence contracting decisions made across Neuromodulation and Pain Interventions and may represent contracting at cross-functional meetings; learn tools and processes to Subject Matter Expert (SME) level.
- Understand key financial impacts on Medtronic Business, competition, and the marketplace, utilize this knowledge to the benefit of the business. 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.
- Provide ad hoc impact analyses of implementing new pricing and more.
- Execute and monitor negotiated contracts from implementation to expiration to ensure that appropriate pricing is applied to sales orders. Proactively identify root cause, issues, and gaps in an effort to reduce pricing discrepancies and increase customer satisfaction.
- Track performance on rebate/compliance contracts. Analyze compliance and determine appropriate rebate and pricing strategies.
- Help implement price increases and product launches following business strategies for the Neuromodulation and Pain Interventions therapies.
- Support Customer Care, Credit Financial Services, Quality Assurance and other internal and external organizations to resolve pricing discrepancies and other related issues.
- Maintain a point of view broader than current role. Consider the needs of the entire organization. Demonstrate global thinking in decision making.
- Engage in special projects as assigned helping to make improvements of processes, systems or products to enhance performance of the job area.
**This role will be a based out of our Minneapolis, MN office.
Must Have: Minimum Requirements
- High School Diploma or equivalent with 6+ years of relevant experience in Contracts or Pricing or equivalent experience (OR Associate's Degree with 4+ years experience OR Bachelor’s Degree with 2+ years experience).
Nice to Have
- Bachelors degree
- 4+ years of relevant work experience in contracting or analysis
- High proficiency with Excel Spreadsheets, Business Objects, SFDC, and SAP
- Experience creating Excel documents, including spreadsheets, formulas like v-lookups, pivot tables, charts, graphs, and functions for analysis
- Knowledge of federal healthcare regulations and compliance standards.
- Ability to adapt quickly to change and prioritization
- Additional experience in sales, marketing, purchasing, healthcare or related areas desirable
- Sound analytical skills, ability to manipulate and interpret data
- Self-starter with communication, collaboration, and leadership skills
- Tactful, exercises independent judgment and discretion
- Strong relationship building, communication and interpersonal skills
- Solid business acumen and judgment
- Ability to work effectively in a team environment and build strong working relationships.
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Physical Job Requirements
The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position.
The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role.
Benefits & Compensation
Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create. We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
The following benefits and additional compensation are available to those regular employees who work 20+ hours per week: Health, Dental and vision insurance, Health Savings Account, Healthcare Flexible Spending Account, Life insurance, Long-term disability leave, Dependent daycare spending account, Tuition assistance/reimbursement, and Simple Steps (global well-being program).
The following benefits and additional compensation are available to all regular employees: Incentive plans, 401(k) plan plus employer contribution and match, Short-term disability, Paid time off, Paid holidays, Employee Stock Purchase Plan, Employee Assistance Program, Non-qualified Retirement Plan Supplement (subject to IRS earning minimums), and Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).
Regular employees are those who are not temporary, such as interns. Temporary employees are eligible for paid sick time, as required under applicable state law, and the Employee Stock Purchase Plan. Please note some of the above benefits may not apply to workers in Puerto Rico.
Further details are available at the link below:
Medtronic benefits and compensation plans
About Medtronic
We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people.
We are engineers at heart— putting ambitious ideas to work to generate real solutions for real people. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary.
Learn more about our business, mission, and our commitment to diversity here.
It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.
If you are applying to perform work for Medtronic, Inc. (“Medtronic”) in any position which will involve performing at least two (2) hours of work on average each week within the unincorporated areas of Los Angeles County, you can find here a list of all material job duties of the specific job position which Medtronic reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of a conditional offer of employment. Medtronic will consider for employment qualified job applicants with arrest or conviction records in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.
