Principal Product Manager

Inovalon was founded in 1998 on the belief that technology, and data specifically, would empower the transformation of the entire healthcare ecosystem for the better, improving both outcomes and economics. At Inovalon, we believe that when our customers are successful in their missions, healthcare improves. Therefore, we focus on empowering them with data-driven solutions. And the momentum is building.

Together, as ONE Inovalon, we are a united force delivering solutions that address healthcare’s greatest needs. Through our mission-based culture of inclusion and innovation, our organization brings value not just to our customers, but to the millions of patients and members they serve.

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%