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Job Description Summary
Assists in the development and execution of product management programs and activities for a single product or product family. Participates in all aspects of the line of business in support of the organization’s goals and market needs. Conducts competitive analysis and market assessment activities. Understands market trends and needs and articulates needs in the form of product requirements. Plays proactive role in product planning and design to ensure the product is differentiated from competitors in the marketplace. Contributes to strategic marketing programs for new products or enhancements, including, identification of market segments, product positioning, pricing, and profitability. Identifies new distribution channels and coordinates product introduction and market exploitation to ensure maximum penetration. Participates in the entire lifecycle of the product, working closely with development teams from product initiation to delivery to eventual product retirement.
This is a Remote/Home Office position
The Product Manager is responsible for generating viable new electronic product concepts/ideas which support the business strategy and market position goals of the healthcare business and directing all product management responsibilities throughout a product’s lifecycle.
- Generates viable new electronic product concepts/ideas which support the business strategy and market position goals of the business by staying abreast of corporate and division strategy and mission; continually researching and capturing data on the electronic information and software application needs of healthcare professionals (e.g., monitoring industry trends, using customer feedback, soliciting ideas from internal SMEs/editors/trainers); mapping existing products and services to those needs; identifying gaps in the current product portfolio; assessing product strengths and weaknesses relative to the competition; thinking creatively to identify opportunities which support Wolters Kluwer goal of being the healthcare professional’s first choice for business and healthcare information; and pitching new concepts at weekly product development meetings.
- Develops a business case for each approved new product concept by describing the concept and how it will be used by customers in comprehensive terms; vetting the ideas through partnerships with the finance, development, sales and marketing teams; gaining buy-in from internal stakeholders; conducting research to determine true market demand/size for the concept as defined (e.g., by commissioning formal primary/marketing research or using secondary research data); proposing price strategies which create a strong value proposition for Wolters Kluwer and ROI for the customers; conducting what-if analysis to develop various multi-year forecasts that represent realistic Wolters Kluwer share estimates for the defined market in units and revenue; justifying and documenting assumptions used in the forecasting process; working with the product development and production teams to estimate accurate time-to-build and development costs; consolidating the product concept and financial projections into presentation format; and presenting to the executive committee to secure approval.
- Ensures successful product launch by securing necessary marketing resources to build the initial go-to-market promotions (e.g., website content, conference presentation/exhibition, journal or other industry vehicles that reach the target audience, webinars,); serving as a SME in relation to the new product’s value proposition and Wolters Kluwer competitive position for copy and graphic design purposes; assisting with the training of sales teams on how to prospect and qualify target customers, demonstrate value and close sales; and assisting sales leadership with establishing kick-off contests, spiffs or commission plans that drive sales results consistent with the business plan.
- Directs all product management responsibilities throughout a product’s lifecycle, from the launch and introduction stage, through the growth and maturity stages, and as the product reaches saturation and the decline stage by assuming final accountability for the success of each assigned product; gathering input from internal and external resources while avoiding “management by committee”; and recognizing each product’s stage in the lifecycle and adapting strategies suitable for that stage – including discontinuation strategies when profitability, customer service, or other business goals can no longer be met.
- Conducts ongoing in-depth research and analysis on each assigned product by tracking revenue and profit trends; staying abreast of changing customer needs and industry trends; monitoring secondary research and market data; studying the competition to gain an understanding of the strengths, weaknesses, and competitive advantages of each product; and analyzing how each product can best benefit the customer or end user.
- Makes contributions to the overall product strategy for the Legal and Regulatory Division by staying informed of electronic delivery media and workflow solutions for the healthcare coding, reimbursement and compliance profession (e.g., web, proprietary online platforms, mobile content/apps, practice management solutions, 3rd party platforms); collaborating with other Product Managers and leaders to create the omnibus product strategy; contributing ideas to other product teams at their request or proactively; sharing identified technology trends; identifying opportunities to collaborate across business lines or across divisions (e.g., WK Health); leveraging internal platforms (e.g., Global Atlas) as much a possible; and helping to prioritize opportunities such that investments are made logically, do not exceed available resources, and optimize the overall health of the business.
- Performs other duties as requested by Supervisor.
Minimum: Bachelor’s Degree in business, information technology or related healthcare field; OR, if no degree, 5 years of software product management experience in healthcare solutions and/or software healthcare experience.
Experience, Knowledge and Tools
Minimum Experience: 5 years of software product management experience and/or software development experience, including:
- Working knowledge of the healthcare reimbursement system to include but not limited to Inpatient, Outpatient and Professional fee; CPT, Level II HCPCS and ICD-10 CM and PCS coding; and healthcare compliance.
- Experience with product management tools and frameworks for delivery and documentation (e.g., JIRA, Agile Scrum, and Pragmatic)
- Development and launch of new and existing product lines.
- Coordinating cross-functional groups to accomplish product and revenue objectives.
- New product development
- Market research methods
- Requirements management
- Project management
- Project lifecycle
- Microsoft Office Suite (Word, Excel, PowerPoint, Outlook)
- Travel for customer visits, beta site visits, sales support, and other travel as required.