Healthcare product managers are responsible for maintaining and managing products throughout their life cycle, from the launch of the product until its retirement. Product managers perform a variety of tasks, including overseeing sales staff to ensure that they have the expertise and materials to sell a product; they also salespeople and clients have promotional materials, training on how to use the products, and clinical papers, as needed. They are also responsible for making sure that the people in the healthcare field are kept up to date on new developments or changes to their company's products. Often, healthcare product managers do market research projects with a team, as well as help develop marketing plans, advertising, and sales forecasts/reports.Most healthcare facilities look look for product managers who have excellent communication skills (written and verbal), are able to lead a team, are able to give persuasive presentations, and are able to travel for demonstrations and fairs. They must have knowledge of Medicare and Medicaid processes, as well as common healthcare terms. Other requirements are a bachelor's degree in a relevant field, with a master's of business administration, or MBA, typically preferred. Some companies require a minimum of three years' experience as a product manager or five or more years working in a healthcare field. Some healthcare companies also see a technical background to be a huge plus.

According to recent data from Google, the projected growth of the Product Manager role in the healthcare sector in Canada is expected to be significant. Over the past ten years, this job role has experienced steady growth, and the trend is expected to continue in the future. The increasing demand for healthcare products and services, coupled with technological advancements, has created a favorable environment for Product Managers in this industry. As a result, numerous employment opportunities are expected to become available in the coming years, making it an attractive field for individuals pursuing a career in healthcare product management.

How to Learn

As a Product Manager in the healthcare industry with 3-6 years of experience in Canada, your main responsibilities include:<ul><li> Collaborate with cross-functional teams to define and execute product strategies that align with the company's vision and goals. You will work closely with teams such as engineering, design, and marketing to develop and implement product strategies that meet the needs of the healthcare industry.</li><li> Conduct market research and analysis to identify customer needs, market trends, and competitive landscape. You will gather and analyze data to understand customer requirements, identify market trends, and assess competitors to inform product development decisions.</li><li> Define product requirements and create a roadmap to guide the development and launch of healthcare products. You will work closely with stakeholders to define product requirements, prioritize features, and create a roadmap that outlines the product's development and launch timeline.</li><li> Monitor product performance, gather user feedback, and iterate on product features and functionalities.</li></ul>

Roles & Responsibilities

Average take home Salary for a Product Manager, Healthcare in Canada is around C$89116 per year

Salary Breakup

Product managers in healthcare are accountable to maintain and manage products through their entire life period, starting from the time of launch of the product to the time it is retired. Product managers are responsible for a range of duties, such as managing sales personnel to ensure they have the knowledge and resources to market a product. They also ensure that clients and salespeople are provided with promotional materials, instruction on how to use the product as well as clinical documents, when required. They also are responsible for ensuring that people working in the field of healthcare remain informed regarding any new developments or modifications to the products of their companies. Most often, healthcare product managers conduct market research in collaboration with their team, and also assist in the development of marketing plans, advertising strategies, and sales forecasts and reports.

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Product Manager, Healthcare

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