The Sr. Manager – Contracts Management & Analytics is responsible for managing the entire contracts and pricing process, strategy and consignment agreements partnering with key internal stakeholders across Terumo Cardiac and Vascular 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 Cardiac and Vascular 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. C&V 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 GPO administration fees and Growth Incentive Rebates which includes forecasting, accruals and payments per contractual terms & conditions.
Manage a team of contracts analysts and support professionals to ensure all contractual commitments are implemented and Field Sales and Corporate Accounts teams have the information necessary to drive contract compliance and utilization.
- 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, 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 C&V.
- Responsible for creating and enforcing contracting procedures and strategy that maintain pricing integrity in the market while increasing revenue and profits.
- Play a significant role in long-term contract/pricing planning, including an initiative geared toward operational excellence.
- Oversee overall contract/pricing financial management, planning, systems and controls.
- Responsible for consignment contract initiation and implementation.
- Contribute to short and long-term organizational planning and strategy in consultation with senior leaders across the broader C&V organization along with members of the Corporate Accounts management team.
- Build effective financial models to minimize price erosion and maximize contractual opportunities at National, Integrated Delivery Network (IDN) and local levels.
- Analyze and forecast total sales dollars, gross profit, and units by class, subclass, product code, and customer, for the calculation and accrual of admin fees, and the development of compliance metrics to ensure that contracted partners are meeting all volume-based commitments.
- Oversee the creation and maintenance of other ad-hoc queries and systems on an as-needed basis to support contract and pricing maintenance, negotiation, and systems/process management.
- 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.
- Manage and facilitate the 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 to keep the system current and aligned with the needs of the business.
- Coordinate with sales and marketing to develop promotional pricing strategies and product initiatives to enhance contract utilization and compliance.
- Train all internal customers on all operational SOPs to ensure competence and adherence to all guidelines.
- Collaborate with Commercial Operations, Sales and Corporate Accounts to implement and manage distribution strategies and sales tracings.
- Manage, develop, coach and train direct reports in operational SOPs, ERP systems, and the use of various reporting tools.
- Demonstrate a commitment to patient safety and product quality by maintaining compliance with all TMC Quality Systems requirements. This includes but is not limited to the prompt recognition and forwarding of customer complaints (i.e. adverse events, product performance reports, etc.) to Quality Assurance (QA), and by ensuring all promotional messaging (i.e. branding strategies, product claims, etc.) and materials (i.e. literature) discussed or presented to customers are clinically accurate and adhere to AdvaMed guidelines and Terumo's policy on Interactions with Healthcare Professionals. Maintain strong knowledge of and adherence to regulations regarding promotional material content and control. Fully adhere to all applicable FDA regulations, international guidelines and Terumo's policies at all times.
- Perform other job-related duties as assigned.
This position exists in an office environment. Occasional overnight is required (20%).
- Knowledge, Skills and Abilities (KSAs):
- 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.
- Background Experience:
- Bachelor's degree or equivalent experience. Master's degree preferred.
- Minimum of 10 years experience in financial analysis within the medical device and/or healthcare industries.
- Minimum of 3 years experience with legacy systems, ERP packages, EDI and systems integration.
- 2 years experience of managing personnel in operations or contracts management.
- Demonstrated experience managing pricing strategies with government, HMO, GPO and IDN contracts.