Job Description
The Principal Product Manager is responsible for establishing deep product expertise from a product and market perspective by understanding buyer and user personas, features and functionality, ROI, value proposition, architecture, competitive landscape, voice of customer, and market trends. This person has strong communication and influencing skills and collaborates with cross-functional stakeholders (i.e. development, marketing, sales, implementation, client success, legal/risk, finance) in efforts to support their product(s) in market. This person is responsible for understanding the jobs to be done and leverages market intelligence, regulatory shifts, client feedback, and internal stakeholder feedback to define and prioritize enhancements (features or operational tools) and new products into a product roadmap. A Principal Product Manager is knowledgeable in the Agile framework and follows Agile processes in partnership with the Product Owner to write product requirements, communicate priorities for sprint and release plans, participates in backlog refinement and retrospectives. This role is also responsible for forecasting and tracking against budget, maintaining a product-level P&L, and tracking product key performance indicators (KPIs).
The Principal Product Manager is the key business representative for our RWD product: defining its vision, guiding its direction, and ultimately seeing its fit into the market. In the Agile product development process, the product manager explores and represents the business needs of the user community. As the liaison between the development team and customers, the product manager must collaborate closely with both groups.
We are seeking a candidate with a strong background in real-world data analytics, particularly within the healthcare industry. The ideal candidate will possess a unique blend of technical expertise, strategic vision, and customer-centric focus to drive the development and successful launch of innovative products that leverage real-world data to address critical healthcare challenges. This role requires proficiency in GTM modeling, market sizing, agile product lifecycle management, and the ability to engage with customers in product discovery and delivery discussions.
Key Responsibilities:
GTM Modeling: Develop comprehensive Go-to-Market (GTM) models and strategies for new product launches, considering market dynamics, competitive landscape, customer segmentation, pricing strategies, and distribution channels.
Customer-Oriented Approach: Cultivate a deep understanding of customer needs, pain points, and preferences through market research, customer interviews, and data analysis. Utilize this insight to inform product strategy and prioritize features that deliver maximum value to customers.
Market Sizing: Conduct thorough market analysis and sizing exercises to identify target market opportunities, assess market potential, and inform strategic decision-making.
Data Analytics: Leverage advanced analytics techniques to extract actionable insights from real-world data sources, enabling evidence-based decision-making and product innovation. Collaborate with data scientists and analysts to develop predictive models, segmentation strategies, and performance metrics.
Healthcare Experience: Demonstrate a strong understanding of the healthcare industry landscape, including regulatory requirements, reimbursement models, healthcare IT infrastructure, and emerging trends such as value-based care and population health management.
Product Lifecycle Management: Drive the end-to-end product lifecycle from ideation to launch to optimization, following agile methodologies and best practices. Define product requirements, create user stories, prioritize backlog, and coordinate cross-functional teams to deliver high-quality products on time and within budget.
Customer Engagement: Serve as the primary point of contact for customers, engaging in strategic discussions, conducting product demonstrations, and addressing customer feedback and concerns. Effectively navigate tough conversations and negotiate win-win solutions to drive customer satisfaction and retention.
Qualifications:
Bachelor's degree in a relevant field (e.g., Computer Science, Engineering, Business Administration), MBA or equivalent preferred.
10+ years of experience in product management, with a focus on healthcare analytics, real-world data, or related fields.
Proven track record of successfully launching and managing complex products throughout the product lifecycle.
Strong analytical skills with proficiency in data analysis tools and techniques (e.g., SQL, Python, R, Tableau).
Excellent communication and interpersonal skills, with the ability to build rapport and influence stakeholders at all levels of the organization.
Demonstrated ability to thrive in a fast-paced, dynamic environment and effectively manage competing priorities.
Certification in Agile or Product Management (e.g., Scrum, Product Owner) is a plus.
Physical Demands and Work Environment:
Sedentary work (i.e., sitting for long periods of time);
Exerting up to 10 pounds of force occasionally and/or negligible amount of force;
Frequently or constantly to lift, carry push, pull or otherwise move objects and repetitive motions;
Subject to inside environmental conditions; and
Travel for this position will include up to 10%
This position is not eligible for immigration sponsorship (e.g. H-1B, TN, or E-3). Applicants must be authorized to work in the United States as a condition of employment. (This is only applicable for US-based positions)
If you don’t meet every qualification listed but are excited about our mission and the work described, we encourage you to apply. Inovalon is most interested in finding the best candidate for the job, and you may be just the right person for this or other roles.
By embracing inclusion, we enhance our work environment and drive business success. Inovalon strives to provide equal opportunities to the communities where we operate and to our clients and everyone whom we serve. We endeavor to create a culture of inclusion in which our associates feel empowered to bring their full, authentic selves to work and pursue their professional goals in an equitable setting. We understand that by fostering this type of culture, and welcoming different perspectives, we generate innovation and growth.
Inovalon is proud to be an equal opportunity workplace. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or veteran status. We also consider qualified applicants regardless of criminal histories, consistent with legal requirement.
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