Contracts Pricing Manager

Terumo Medical Corporation; New Jersey; On-site; USD 90,000 - 120,000; Full time

Job summary

A healthcare technology company in New Jersey is seeking a Manager, Pricing & Contracts to oversee contract processes and pricing strategies. This role involves managing a team to assure compliance and develop financial models that optimize revenue. Ideal candidates will have a Bachelor's degree and 8+ years of experience in contracts management in the medical device industry. Strong analytical and leadership skills are essential for success in this role. Opportunity for strategic influence and team development exists.

Qualifications

• 8+ years experience in contracts management within medical device or healthcare industries.
• Proven success in leading and managing a contracts management team.
• 3+ years experience working with ERP packages and systems integration.

Responsibilities

• Manage contracts analysts and administrators to ensure compliance and utilization.
• Develop and enforce Standard Operating Practices around contracts.
• Oversee contract financial management and pricing strategies.

Skills

Strong business acumen and analytical skills

Ability to build accurate financial models

Knowledge of organizational effectiveness

Ability to influence and lead cross-functional teams

Excellent verbal and written communication skills

Education

Bachelor's degree

Master's degree preferred

Tools

ERP packages

JDE

SAP

Job description

The Manager, Pricing & Contracts is responsible for managing the entire contracts and pricing process and strategy, partnering with key internal stakeholders across Terumo Americas Holding companies, to drive and optimize revenue, market share, brand positioning, and profitability.

This role is responsible for development and enforcement of Standard Operating Practices (SOP) around Terumo Medical Corporation (TMC) and Cardiac & Vascular (C&V) Companies contracting and contract designs that account for multi-company interests, measurements and rebates. Maintain valid and enforceable contracts focused on customer commitment levels such as compliance or growth-based models. The Terumo customer base includes partnerships with GPOs, IDNs, Stand Alone Hospitals, Government and Distributors and must properly identify end user to ensure accurate sales reporting and compensation.

Manage a team of contracts analysts and contract administrators to ensure all contractual commitments are implemented and Field Sales and Corporate Accounts teams have the information necessary to drive contract compliance and utilization.

This position exists in an office environment. Occasional overnight is required (10%).

• Define, develop, evaluate, and oversee the implementation of pricing models and strategies and monitor the ongoing business environment to ensure competitive pricing/market position.
• Partner with Sales, C&V Corporate Accounts, Marketing, Business Development, Finance and other key stakeholders to correctly position product portfolio, to include new product launches and establish pricing programs aligned with product/sales strategy and revenue recognition requirements.
• Enhance operational systems, processes and policies to support better management reporting, information flow and management, business process and organizational planning across TMC and C&V.
• Oversee overall contract/pricing financial management, planning, systems and controls.
• Play a significant role in long-term contract/pricing planning, including an initiative geared toward operational excellence.
• Contribute to short and long-term organizational planning and strategy in consultation with senior leaders across the broader Terumo organization and as a member of the Corporate Accounts management team.
• Coordinate with sales and marketing to develop promotional pricing strategies and product initiatives to enhance contract utilization and compliance.

Operational effectiveness (35%)

• Build effective financial models to minimize price erosion and maximize contractual opportunities at National, Integrated Delivery Network (IDN) and local levels.
• Oversee the creation and maintenance of ad-hoc queries and systems on an as-needed basis to support contract and pricing maintenance, negotiation, and systems/process management.
• Manage and facilitate the Integrated Delivery Network (IDN) contract workflow system surrounding all contract negotiations to facilitate the flow of pertinent information to ensure consistency and adherence to the negotiation process to include proper routing, review and timely execution of all contracts.
• Conceptualize, create, and distribute SOP documentation defining the proper utilization of web-based contract management application.
• Establish system and reporting metrics to assist in the diagnosis of end user issues and design modifications to ensure timely problem resolution in an effort to keep the system current and aligned with the needs of the business.
• Manage, develop, coach the contracts team members, setting goals for department and team members and standards for evaluation and advancement.
• Train and coach team in operational SOPs, ERP systems, and the use of various reporting tools.
• Responsible for creating and enforcing contracting procedures and strategy that maintain pricing integrity in the market while increasing revenue and profits.
• Work with Customer Service, Accounts Receivable and IT to maintain accurate pricing, create awareness of contract commitments, and work to resolve contract related pricing/terms problems and to ensure compatibility of contractual pricing as it might relate to potential end-user related AR issues.
• Train all internal customers on all operational SOPs to ensure competence and adherence to all guidelines.
• Perform other job-related duties as assigned.

Organizational Impact

Partners with Sales, C&V Corporate Accounts, Marketing, Business Development, Finance and other key stakeholders to correctly position product portfolio, to include new product launches and establish pricing programs aligned with product/sales strategy and revenue recognition requirements. Manages and facilitates contract workflow system surrounding all contract negotiations to ensure consistency and adherence to the negotiation process to include proper routing, review and timely execution of all contracts.

Communication & Influence

Establishes system and reporting metrics to assist in the diagnosis of end user issues and design modifications to ensure timely problem resolution aligned with needs of the business; Provides solutions for contract and pricing maintenance, negotiation, and systems/process management; Creates and enforces contracting procedures and strategy that maintain pricing integrity in the market while increasing revenue and profits.

Contributes to short and long-term organizational planning and pricing strategy; Establish system and reporting metrics to assist in the diagnosis of end user issues and design modifications to ensure timely problem resolution in an effort to keep the system current and aligned with the needs of the business.

Leadership & Autonomy

Leads a team of professional level staff; trains internal customers on all operational SOPs to ensure competence and adherence to all guidelines; Oversees the creation and maintenance of ad-hoc queries and systems on an as-needed basis to support contract and pricing maintenance, negotiation, and systems/process management.

Knowledge, Skills and Abilities (KSA)

• Strong business acumen and analytical skills.
• Ability to build accurate and effective financial models.
• Knowledge and experience in organizational effectiveness and operations management implementing best practices.
• Strong ability to influence and lead cross functional work teams as an individual contributor.
• Distribution and sales tracings expertise.
• Ability to interact, consult and influence senior leaders in an organization.
• Multidivisional exposure and experience with scorecard development and analysis.
• Ability to mentor, coach, and develop direct reports.
• Ability to continually analyze an ever changing market in order to align changing contractual needs as they relate to the need to maximize company sales and profitability.
• Excellent computer skills and advanced knowledge of Microsoft Office applications (Excel, Word, Outlook and Power Point).
• Excellent verbal and written communication skills, and presentation skills.
• Ability to challenge and debate issues of importance to the organization.
• Ability to look at situations from several points of view.

Qualifications/ Background Experiences

• Bachelor's degree and a minimum of 8 years experience in contracts management within the medical device and/or healthcare industries required or equivalent combination of education, training and experience. Master's degree preferred.
• Must have demonstrated success in leading and managing with at least 2 years of management experience, preferably managing a contracts management team in medical device or life sciences field.
• Minimum of 3 years experience working with ERP packages, EDI and systems integration, preferably JDE and/or SAP.
• Demonstrated experience managing pricing strategies with government, Acute Care, OBL/ASC GPO and IDN contracts.