Contract Analyst at Medtronic in Fridley, Minnesota

Job Description:

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

As a Contract Analyst, you will play a pivotal role in driving strategic initiatives and enhancing the effectiveness of our pricing and contracting strategies through comprehensive analytic, contracting, and business expertise. Your work will be crucial in shaping competitive pricing strategies and ensuring seamless contract execution. This is an ideal role for someone who thrives in a fast-paced, collaborative environment and has a passion for driving business success.

Responsibilities may include the following and other duties may be assigned.

• Pricing Strategy Development: 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.

• Strategic Contract Management: 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.

• Stakeholder Collaboration: 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.

• Quotation and Bid/RFP Management: 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.

• Contract Lifecycle Oversight: 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.

• Business Acumen: 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.

This position is a hybrid-role based in our Fridley campus in Minneapolis, MN. All candidates must be able to accommodate an on-site, and off-site work environment to be considered.

Must Have: Minimum Requirements

Bachelors degree required

Minimum of 2+ years of relevant experience, or Advanced degree with 0 years of relevant experience required

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

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.

Salary ranges for U.S (excl. PR) locations (USD):$64,800.00 - $97,200.00

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

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 90,000+ 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.

At Medtronic, most positions are posted on our career site for 3-7 days.