Sr Pricing Strategy Analyst
Careers that Change Lives
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
Responsibilities may include the following and other duties may be assigned
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
Must Have: Minimum Requirements
Bachelor’s Degree with 4+ years of relevant experience; or Advanced Degree with a minimum of 2 years relevant experience
Nice to Have: (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.
Benefits & Compensation
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. This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP). Learn more about MIP and benefits here.
The provided base salary range is used nationally (except in certain CA locations). The rate offered is compliant with federal/local regulations and may vary by experience, certification/education, market conditions, location, etc.
Physical Job Requirements
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.
