Terumo Medical Corporation · 2 days ago
Contract Analyst
Somerset, NJ
Full-time, Contract
Onsite
Mid Level
$69K/yr - $85K/yr
3+ years expTerumo Medical Corporation is seeking a Contract Analyst to manage stages of the Sales Contract Lifecycle, ensuring compliance and quality in contracts related to Terumo products. The role involves collaboration with various departments to draft, review, and analyze contracts while monitoring pricing and performance metrics.
HardwareHealth CareHealth DiagnosticsIndustrial ManufacturingManufacturingMedicalMedical Device
Hiring Manager
Andre Thompson
Responsibilities
Collaborate with the Sales Team to plan and develop customer purchase agreements in accordance with TMCs approved templates and business standards
Responsible for drafting and/or reviewing contract T&C’s in order to understand and revise to include business decision language and comments prior to Legal review
Capable of reading and understanding the terms and conditions of sales contracts to adjudicate accurate pricing, rebates, and fees deliverables
Effectively communicate with internal (and as needed, external) stakeholders regarding contract and pricing status and terms
Responsible for accurately completing and coordinating RFI’s, RFP’s, and contract submissions for the assigned regions, with the help of the Contracts Administrator
Monitor and analyze contract compliance with Terumo contracts processes and policies
Expertly understand TMCs national Group Purchasing Agreements to lead contractual administration obligations
Identify necessary agreement templates and/or template modifications to meet business needs and collaborate with the legal team to analyze and implement
Review and execute contractually approved pricing and consignment contracts across all customers, upholding utmost accuracy
Review of customer pricing to eliminate discrepancies proactively
Effectively communicate with internal (and as needed, external) stakeholders regarding contract and pricing status and basic terms
Monitor and analyze contract compliance with Terumo contracts and pricing processes and policies
Responsible for administering TMCs national pricing including List Price, Intercompany Pricing setup and benchmark/discount level prices
Implement the product lifecycle (new, discontinuation) set up requirements in all contracts and price applicable systems
Serve as a subject matter expert (SME) in contract performance to assigned sales regions, by retrieving and evaluating customer sales data, forecasting, and assisting in data-driven decisions
Own the following local and/or regional contractual fees and incentive rebate payment activities from point of full execution to expiration:
Perform the calculation and processing of Administrative Fee and Incentive Rebates
Perform the calculation of monthly accruals for Administrative Fee and Incentive Rebates and ensure timely posting to the Finance team
Audit of the Administrative Fees and Incentive Rebates to ensure timely and accurate payment
Prepare monthly, quarterly, and annual sales reports for assigned contracts
Respond to fee and rebate related inquiries from both internal business partners and external customers
Run and analyze ad-hoc reports to support pricing and contract initiatives
Provide reports and analysis to department and senior management as requested
Understand the impact of key financial indicators for applicable Terumo business units, competition, and the marketplace. Utilize this knowledge to the benefit of the business
Manage projects with minimal direction to help the business achieve objectives
Work closely with Contract Administrators to manage areas of the contract life cycle within assigned sales regions to ensure synergies in responsibilities
Continually evaluate relevant internal processes, procedures and systems and propose to management improvements
Serve and be an effective team member on multi-disciplinary teams to solve problems and to increase the overall effectiveness of the department
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
Perform other job-related duties as assigned
Qualification
Required
Bachelor's Degree and a minimum of 3 years of contract analyst and/or contract administration experience, or equivalent combination of education, training and experience required
Experience with sales teams, contracting needs is required
Must have knowledge of GPO, IDN, Hospital/Institutional, and/or other sales-based contracts and contracting processes
Working knowledge of medical device industry contracting, including knowledge of standard business practices
Ability to quickly learn Terumo's products, procedures, and systems
Must have strong written, verbal, and interpersonal skills
Well organized and skilled at time management. Must be able to manage multiple priorities and deadlines while working under minimal supervision in a fast paced, deadline driven environment
Strong computer skills including Microsoft Office and ability to run recurring and ad-hoc reports. Proficiency in MS Word including track changes and doc compare is required
Excellent analytical, organizational, and critical thinking skills
Must be able to handle confidential information
Must be detail orientated and thorough
Initiative-taker and able to work independently as well as part of a team
Strong level of ownership and drive for meeting and exceeding expectations is required
Ability to form strong, trust-based relationships with Corporate Account Managers and Sales Team
Preferred
Medical device and/or pharmaceutical contracting experience preferred, including knowledge of standard business practices
Experience with a contracting ERP system (SAP, etc.) preferred
Intermediate proficiency in Microsoft Excel and Word required
Company
Terumo Medical Corporation
Our Promise At Terumo, everything starts with our unwavering commitment to patients.
1001-5000 employees
H1B Sponsorship
Terumo Medical Corporation has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2024 (5)
2023 (2)
2022 (2)
2021 (4)
2020 (2)
Funding
Current Stage
Late StageLeadership Team
Shahnawaz Khan
CTO & Head of IT
Michael J M.
Sr. VP, Medcal Affairs, Chief Medical Officer
Recent News
Orchestra BioMed Holdings, Inc.
2025-10-28
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