Full Job Description
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals, and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries.
Leading an active lifestyle is important to the many people we serve. In Abbott’s Electrophysiology and Heart Failure division, we’re advancing the treatment of heart and vascular disease through breakthrough medical technologies in electrophysiology and heart failure, allowing people to restore their health and get on with their lives.
Our location in Austin, TX currently has an opportunity for a Director of Pricing and Contracts Strategy. This position ensures and the develops Pricing and Contracts Strategy as well as determines quality and consistency of Pricing and Contracts in the Electrophysiology Division. The role is pivotal in developing and implementing pricing strategy and tactical plans aligned to inline and future launch products. This role plays a pivotal role to support decision-making regarding the overall health of the business. This role collaborates with Area Vice Presidents, Other Business Units, Marketing, Finance, and Enterprise Accounts in the collection and analysis of market/ Abbott and competitor product prices and trends in order to make the sound business decisions that optimize Abbott Product pricing and margin. The key deliverables include but are not limited to a Market and Competitor Price Analysis Report, Pricing Assumptions that feed Annual Long-Range Plan Forecast, tracking minutes and documentation against Pricing Governance SOPs, and supporting review of pricing submitted in business cases. This role will work in a matrix approach within the organization and requires excellent excel/analytic skills and communication and presentation skills. The individual will participate in portfolio and competitive analysis projects to support Abbott Electrophysiology products. This position reports to the Director of Electrophysiology Strategy.
WHAT YOU’LL DO
Strategic Pricing Plan
Develops pricing strategies and ongoing assessment and adaptation of strategies to ensure an optimal balance of revenue, volume, margin and access across the portfolio and geographies.
Establish price guidance and launch pricing strategies including target prices, list prices, and floor prices and exceptions management.
Develop pricing models to evaluate pricing strategy options and recommendations and conduct pricing research to support this.
Develop & maintain competitive pricing intelligence and monitor trends and developments in the global pricing environment to evaluate the potential impact and Seqirus and proactively identify strategies and actions.
Support all Product Launches with competitor/market price analysis, international pricing rules to ensure Product launches meet overall Product and business Gross Profit goals
Partner with business leaders to ensure smooth transition and implementation of pricing strategies to regions and with Market Access, HEOR, Medical Affairs, Commercial Ops
Enhance information exchange and best practice sharing across the regions and drive adoption of pricing resources and tools
Assure two-way communications Enterprise accounts, the EP Division, and other business units.
Market and Competitor Pricing Strategies
Working with Market Intelligence team, conduct pertinent research of competitor pricing and pricing strategy and develop bi-annual market industry and pricing report for internal use
Identify developments in the pricing environment to evaluate the potential impact on Abbott Electrophysiology and proactively identify strategies and actions.
Conduct reimbursement landscape, payers unmet needs, competitors’ value proposition and pricing & reimbursement status, and payers’ decision making
Provide market inputs and assumptions into annual brand planning and long-range forecast processes
Strategic Pricing Governance support
Serve on Global Pricing Committee. Shepard the Pricing exception process and evaluate the merits of the Exception before its sent out to the committee for approval.
Implementing the appropriate metrics to monitor pricing decisions and exceptions management
Assist international affiliate price approvals or innovative partnerships and provide analytic support to rationalize price vs. volume with financial implication
Ensure consistency of launch prices across geographic area and monitor price implication based on international reference rules
Develop database of tender/contract/launch prices
Develop strategies to place Abbott Electrophysiology and manage capital sales team in the US.
EDUCATION AND EXPERIENCE YOU’LL BRING
Knowledge and Competencies
At least 5 years work experience in a pricing leadership role or Sales leader role within the medical device industry, preferably in Electrophysiology
Good understanding of US pricing environment; product launch experience in pricing preferred
Experience working with market data and syndicated data sources
Strong leadership and influencing skills and the ability to manage complexity where both strategic and tactical skills are required
Strong thought leadership and strategic thinking skills with a demonstrated ability to identify business issues/opportunities
Minimum 5 years as a leader of people.
Education – Bachelor’s Degree required; MBA or other advanced degree preferred
Experience – 5-10 years experience leading employees as a sales leader or pricing and contracts leader in medical device industry, preferably cardiac electrophysiology.
WHAT WE OFFER
At Abbott, you can have a good job that can grow into a great career. We offer:
Training and career development, with onboarding programs for new employees and tuition assistance
Financial security through competitive compensation, incentives and retirement plans
Health care and well-being programs including medical, dental, vision, wellness and occupational health programs
Paid time off
401(k) retirement savings with a generous company match
The stability of a company with a record of strong financial performance and history of being actively involved in local communities
Learn more about our benefits that add real value to your life to help you live fully: www.abbottbenefits.com
Follow your career aspirations to Abbott for diverse opportunities with a company that provides the growth and strength to build your future. Abbott is an Equal Opportunity Employer, committed to employee diversity.
Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.