Senior Pricing Strategy Analyst at Medtronic in Minneapolis, Minnesota

Job Description:

We anticipate the application window for this opening will close on - 31 Jan 2025

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
Senior Pricing Strategy Analyst - US
This is an exciting opportunity for a high potential, analytical, pro-active candidate to join the US Pricing Strategy Team. This position will focus on Cardiovascular Portfolio pricing initiatives in a collaborative environment which values your insight, encourages continuous learning, and promotes innovation.

This role as a Senior 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.

A Day in the Life:

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

BASIC QUALIFICATIONS:

EDUCATION REQUIRED:

Bachelor's Degree

YEARS OF EXPERIENCE:

4+ years of relevant experience; or advanced degree with a minimum of 2 years relevant experience

DESIRED/PREFERRED QUALIFICATIONS:

• Works independently under limited supervision to determine and develop approach to solutions


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


• Experience in working with sales or 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.


• Ability to create and present PowerPoint presentations.

About Medtronic

Together, we can change healthcare worldwide. At Medtronic, we push the limits of what technology, therapies and services can do to help alleviate pain, restore health and extend life. We challenge ourselves and each other to make tomorrow better than yesterday. It is what makes this an exciting and rewarding place to be.

We want to accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people on our team. Let's work together to address universal healthcare needs and improve patients' lives. Help us shape the future.

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 Day in the Life 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.

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):$80,800.00 - $121,200.00

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).

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 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.