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Contract Analyst

Date:  Mar 17, 2023
Req ID:  632

Somerset, NJ, US

Company:  Terumo Medical Corporation
Department:  TIS Sales - Admin

Terumo Medical Corporation (TMC) develops, manufactures, and markets a complete, solutions-based portfolio of high-quality medical devices used in a broad range of applications for numerous areas of the healthcare industry. TMC places a premium on providing customers with world-class products, training and education programs that drive clear economic value, better clinical outcomes and improved quality of life for patients. TMC is part of Tokyo-based Terumo Corporation; one of the world’s leading medical device manufacturers with $5+ billion in sales, 20,000+ employees worldwide and operations in more than 160 nations. Terumo Medical Corporation is comprised of two strategic business divisions: Terumo Interventional Systems and Terumo Medical Products.

Job Summary

The Contract Analyst is responsible for drafting, reviewing and analyzing the terms and conditions, pricing and performance of contracts that involve the sale of Terumo product, to ensure high quality contracts that are effective, equitable and compliant. Works closely with the Sales Organization, Corporate Account management as well as cross-functional departments such as Legal, Marketing, Customer Service and Finance to oversee the administration and analytics of IDN, GPO, Hospital and other sales contracts.

Job Details/Responsibilities

1.    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. 
2.    Capable of reading and understanding the terms and conditions of sales contracts in order to adjudicate accurate pricing, rebates and fees deliverables.
3.    Serve as a partner and 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.
4.    Manage the following contractually required administrative fees and incentive rebate payments:
a.    Calculate and process GPO Administrative Fee and Incentive Rebate reporting.
b.    Calculate Fee and Rebate Monthly Accruals.
c.    Audits of Admin Fees and Incentive Rebates.
d.    Prepare monthly, quarterly, and annual sales reports for assigned contracts.
5.    Responsible for completing and coordinating RFI’s, RFP’s, and contract submissions for the assigned regions, with the help of the Contracts Administrator.
6.    Effectively communicate with internal (and as needed, external) stakeholders regarding contract and pricing status and basic terms.
7.    Run and analyze ad-hoc reports to support pricing and contract initiatives.
8.    Monitor and analyze contract compliance with Terumo contracts and pricing processes and policies.
9.    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.
10.    Manage projects with minimal direction to help the business achieve objectives.
11.    Work closely with Contract Administrators to manage areas of the contract life cycle within assigned sales regions to ensure synergies in responsibilities.
12.    Continually evaluate relevant internal processes, procedures and systems and propose to management improvements.
13.    Serve and be an effective team member on multi-disciplinary teams to solve problems and to increase the overall effectiveness of the department.   
14.    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.  
15.    Perform other job-related duties as assigned.  

Working Conditions/Physical Requirements

This position exists in an office environment. Approximately 10% overnight travel is required.

Knowledge, Skills and Abilities (KSA)

  • 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.
  • Self-starter 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. 

Qualifications/ Background Experiences

  • 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.
  • Medical device and/or pharmaceutical contracting experience preferred, including knowledge of standard business practices.
  • Experience with a contracting ERP system (JD Edwards, SAP, etc.) preferred.
  • Intermediate proficiency in Microsoft Excel and Word required.


It is Terumo’s policy to provide equal employment opportunity to all its employees and applicants for employment regardless of their race, creed, color, national origin, age, ancestry, nationality, marital or domestic partnership or civil union status, sex, pregnancy, gender identity or expression, disability status, liability for military service, protected veteran status, sexual orientation, atypical cellular or blood trait, genetic information (including the refusal to submit to genetic testing), or any other category protected by law. As a Company, we value diversity of background and opinion, and prohibit discrimination or harassment on the basis of any legally protected class in the areas of hiring, recruitment, promotion, transfer, demotion, training, compensation, pay, fringe benefits, layoff, termination or any other terms and conditions of employment.

Nearest Major Market: New Jersey