Product Manager, Healthcare

A Healthcare Product Manager works in development or strategy meetings, collaborates with other departments (sales, engineering, marketing, etc.) to enhance the product, does market research, and offers professional guidance on various health-related topics.

A Product Manager, Healthcare's typical roles are listed below:

• Account Executives: They find leads and close sales with current customers or new prospects to support the expansion of their businesses. To ensure the success of their clients, they also serve as a bridge between other organizational units.
• Healthcare Account Executive: They provide mission-critical support services, keep an eye on complicated issues, and collaborate closely with the customer support and engineering teams to ensure that the correct escalation and resolution methods are used.

A Product Manager, Healthcare's role and responsibilities include the following:

• Working with product managers and business executives to comprehend and align the product roadmap to its vision utilizing agile methodology and awareness of market dynamics, industry trends, and everyday business models used by various verticals.
• Validating a new product's market potential, TAM, etc., conducting competitive analysis, creating a product backlog, and scheduling product release by GTM strategy.
• Improving the minimum viable product (MVP) to match the market opportunity supported by a strong product vision and positioning, suggesting/checking the viability of an integrated solution for customer deployment, and working with the UX/UI teams to ensure verified designs and UI development.

A Product Manager, Healthcare needs to meet the following requirements:

• Must hold a bachelor's degree in computer science or another STEM-related field (Science, Technology, Engineering and Math).

Healthcare Product Manager at the entry level can enhance their career if they have gained expertise and proficiency in the field. Suppose a Healthcare Product Manager begins their career as a senior Healthcare Product Manager, for instance. In that case, they may advance to a position like Marketing Manager and eventually finish with the title of Product Management Director. Some alternative job roles available for Product Managers, Healthcare are:

• Product Marketing Manager: Develops and implements marketing strategies to promote products and drive sales.
• Group Product Manager: Oversees a team of product managers and coordinates product development and launches.
• Manager Product Management: Leads product management activities and ensures the successful delivery of products.
• Head of Product: Holds overall responsibility for the strategic direction and success of a company's product portfolio.
• Product Specialist: Provides expertise and support for a specific product, assisting with sales, training, and customer inquiries.
• Product Management Specialist: Specializes in managing the product lifecycle, from concept to launch, and optimizing product performance.
• Program Manager: Plans and oversees the execution of multiple projects, ensuring they align with the organization's objectives.
• Co-Founder: A core member of a company's founding team, responsible for shaping the company's product vision and strategy.
• Vice President Of Products: Holds executive-level responsibility for the overall product portfolio and strategy of a company.
• Digital Product Manager: Manages the development and optimization of digital products, such as software or mobile applications.
• Product Development Manager: Leads the planning, coordination, and execution of new product development initiatives.

The coronavirus has also benefited the Healthcare Sector. Future expansion will accelerate this growth even more. By 2022, the Indian Healthcare Industry was predicted to be worth $372 billion, according to Invest India. As the Healthcare sector grows, the need for Product Manager also increase.
A CAGR (compound annual growth rate) of 22% between 2016 and 2022 is predicted to see the Indian Healthcare sector grow three times, from US$ 110 billion in 2016 to US$ 372 billion in 2022. Infrastructural investments in Healthcare in India are anticipated to total $349.1 billion by FY22. By 2025, the market for electronic health records is expected to grow to $10.6 billion.