Principal Pricing Strategy Analyst - Neuromodulation (MN) at Medtronic in Minneapolis, 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
This role as a Principal Pricing Strategy Analyst is an integral role responsible for defining market value (price setting), driving revenue & profit optimization, executing pricing governance, pricing operations, advanced analytics, and leading price management (price getting) for a defined Operating Unit (OU) or Portfolio. As a key member of the US Pricing Strategy Team, you will support the objectives of the US Region through driving effective and efficient business decision making while maximizing financial results. Optimizing ASPs and continually improving best in class strategy and execution is a key goal.
Product Launch Strategy : Downstream and upstream modeling and analysis, market execution, and performance analysis

• Develop pricing models to support product feature selection and portfolio development for current and future products


• Perform revenue modeling to set new product price premiums considering customer segments


• Develop execution plans (account planning), tracking metrics and analytics post launch


• Present and gain alignment with business leadership on pricing strategies


• Partner to ensure product pricing models support market dynamics, successful implementation, and drive launch goals

Pricing Governance : Manage governance process, floors, deal review, and approvals; improve outcomes to increase profitability and achieve OU objectives

• Develop governance process that is aligned to Global Region governance process


• Manage the pricing approval process with focus on efficiency and adherence to policy


• Workshop and advise on targeted deals to drive improved outcomes


• Approval authority on deals within price bands


• Create deal analytics requirements and advise on pricing systems and tools


• Develop and train sales and contracting teams on tools, price strategies, and processes

Pricing Lead : Lead business partner for assigned OU/Portfolio

• Create quarterly analysis of price drivers, trends, and market insights


• Partner with OU to develop and implement proactive pricing programs that drive incremental margin and maximize OU portfolio strategy


• Analyze and monitor competitive pricing and market environment to determine if strategies should be refined to optimize growth and mitigate impacts to our portfolio

Program Management : Creation and ongoing management of Pricing Programs through collaboration with OUs, Contracting and Commercial teams

• Establish Outcomes metrics to evaluate deal decisions and expected outcomes; create and implement action plans to drive improvement


• Forecast ASPs quarterly in support of IBP process. Provide ASP support during the appropriate IBP meetings (RDR, PMR,...)


• Provide data driven insights for program performance at contract level based on customer profiles


• Provide input on contract and rebate structures that align to OU growth objectives


• Collaborate on initiatives across organizations to drive efficiency in processes, tools, and systems

EDUCATION REQUIRED:

Bachelor's Degree

YEARS OF EXPERIENCE:

7+ years of relevant experience; or advanced degree with a minimum of 5 years relevant experience

DESIRED/PREFERRED QUALIFICATIONS:

• Exercises considerable latitude in determining deliverables of assignments, with limited oversight from manager


• Proficiency in Excel, Tableau, Power Point, and Business objects


• Experience in Pricing Governance and working with sales and contracting


• Demonstrated strong quantitative and analytical skills.


• Proven ability to translate large amounts of data into actionable insights and coherent strategies.


• Demonstrated self-starter with communication, collaboration, and leadership skills.


• Must be comfortable working in cross-functional role and navigating many stakeholders.


• Proven success dealing with time-sensitive ambiguous projects in a dynamic business environment.


• Experience in Negotiation or Influence Management


• Strong presentation Skills

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):$106,400.00 - $159,600.00

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

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

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.