Finance Manager - Medical Devices Industry

The Finance Manager is responsible for the integrated financial strategy across three main business pillars:Medical Device Manufacturing:

• Managing manufacturing costs, R&D capitalization, and product ROI analysis.

• Oversight of raw material, work-in-progress, and finished goods inventory.

Distribution:

• Optimizing distribution margins to hospitals/clinics.

• Managing distributor credit and cold chain logistics costs for temperature-sensitive products.

Laboratory Services:

• Pricing based on test panels and revenue cycle management (claims to BPJS/private).

• Managing reagent and consumable costs.

The main goals are ensuring regulatory compliance (BPOM/Ministry of Health), maximizing profitability across segments, and mitigating financial risks specific to the healthcare industry.

Job Responsibilities 

A. Financial Planning & Strategy

• Prepare quarterly rolling forecasts with business scenarios, such as the impact of BPJS tariff changes on lab revenue.

• Create product-based budgets, e.g., cost allocation for implantable and disposable device production.

• Monitor the cash-to-cash cycle for medical device inventory (average 90-180 days).

• Manage currency hedging for imported raw materials and diagnostic tools.

• Analyze COGM (Cost of Goods Manufactured) by product category and report CLTV (Customer Lifetime Value) of priority distributors.

B. Cost Control & Profitability

• Audit production costs using activity-based costing, e.g., sterilization cost per batch.

• Evaluate distribution costs per region, including cold storage and special handling expenses.

• Analyze contribution margin per product and monitor break-even points of lab services per test panel.

• Mitigate risks of obsolete inventory for high-tech products and monitor credit exposure to distributors.

C. Accounting & Taxation for Medical Devices

• Assess inventory using FIFO method according to PSAK 14 for products with sensitive expiration periods.

• Capitalize regulatory approval costs (BPOM) as intangible assets.

• Optimize VAT on medical devices, R&D tax incentives (PP 45/2019), and cross-border tax reporting (transfer pricing).

D. Regulatory Compliance & Audit

• Ensure compliance with Ministry of Health Regulation No. 30/2019 (e-catalogue price reporting for medical devices).

• Coordinate with QA/RA for certification cost tracking (ISO 13485, CE Mark).

• Prepare BPOM audit documentation and meet reporting standards for government tenders.

E. Team & Operational Management

• Build cross-functional teams (production accounting, distribution tax, lab billing).

• Conduct training on healthcare reimbursement & inventory valuation for medical devices.

• Integrate ERP systems tailored for medical devices (e.g., Oracle Health Sciences, SAP ME).

• Develop SOPs for fixed asset management of high-value lab equipment.

F. Business Strategy & Collaboration

• Set medical device prices using value-based pricing and bundle discount schemes (product + lab service).

• Collaborate with production on make-or-buy analysis and with distribution on volume-based incentive programs.

• Work with lab services for dynamic pricing strategies, vendor payment term negotiations, and partnerships with health-focused fintech companies.

Required CompetenciesTechnical Expertise:

• Understanding of PSAK 73 (revenue from lab service contracts).

• Familiarity with healthcare supply chain costing.

• Strong data analysis skills (Advanced Excel, Power BI, SQL).

Regulatory Knowledge:

• BPOM regulations related to financial reporting for medical device companies.

• Tax rules specific to the healthcare industry (VAT on strategic goods).

Soft Skills:

• Negotiation with medical stakeholders (hospitals, clinics).

• Presenting complex data to non-financial management.

Information :

• Company : PT PathGen Diagnostik Teknologi
• Position : Finance Manager - Medical Devices Industry
• Location : Jakarta
• Country : ID