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.
Job Purpose:
Reporting to the SVP, Product, the Vice President, Product Management will serve in a key leadership role as a member of the Senior Leadership Team (SLT) and will have responsibility for leadership and strategic direction in the development, execution, enhancement, and management of the company’s product portfolio.
With responsibility for the expanding (SaaS) Product function, the VP, Product Management must be passionate about the incubation, design, development, and launch of new SaaS products in the data and technology space. This person must bring a strong background in leading best-in-class teams that manage and own a product portfolio. This person will work to identify, design, and drive initiatives that grow Inovalon’s business throughout the healthcare value chain and establish a positive impact on the organization’s operating efficiency and profitability.
Essential Duties and Responsibilities:
- Develop and maintain an expert level of knowledge regarding products, services, capabilities, infrastructure, and operations of Inovalon and its affiliates, the marketplace, competition, strategic positioning, threats, and direction to achieve optimal insight and success with respect to Inovalon’s (and those of its affiliates) products, services, capabilities, support, functionality requirements, and financial performance;
- Lead, drive, and ultimately be responsible for all aspects of the product portfolio strategy through a build, buy, partner lens including market research, financial planning, feature/function road-mapping, development, implementation, operation, regulatory compliance, maintenance, and overall financial performance (inclusive of pricing, sales, realized revenue, development costs, and operating contribution/margins), to include:
- Business Planning: The development and maintenance of a multi-year business plan (the “Identified product(s) Plan(s)”) to meet the overall goals of the Identified Product(s), including all key elements such as competitive landscape, target customer needs analyses, TAM and SAM opportunity analyses, prioritized feature/function road map, development plan (inclusive of timelines, resource requirements, and costs), market differentiators, go-to-market plan, customer contract requirements, and financial projections (inclusive of pricing, sales, realized revenue, development costs, and operating contribution/margins), which shall be updated quarterly;
- Strategy: Define the product portfolio strategy through a buy, build, partner lens. Drive the partnership and M&A strategy, lead partnership engagement efforts, foster and support key strategic partner relationships, and collaborates with corporate M&A team.
- Engineering Detail: Ensure that the product team is building comprehensive feature/function requirements details, acceptance criteria, volume expectations, performance expectations, testing parameters, and other requirements of engineering to achieve reliable, timely, and successful development, testing, and operation of the Identified Product(s);
- External Coordination & Communication: The engaging of customers, potential customers, internal stakeholders, business partners, industry experts, and subject matter experts to gather insight and feedback with respect to the competitive landscape, customer needs, TAM and SAM opportunity analyses, prioritization of feature/function road map, so as to make adjustments, as necessary, to optimize and realize the Identified product(s) Plan(s);
- Internal Leadership: The leadership and management of personnel necessary to successfully achieve the Identified product(s) Plan(s), inclusive of direct oversight in cases where such personnel report directly or indirectly to Employee, and matrixed coordination in cases where such personnel do not report directly or indirectly to Employee;
- Internal Support: The support of necessary internal resources, inclusive of marketing, legal, financial, engineering, sales, customer success, and other such resources, as necessary, to optimize and realize the Identified product(s) Plan(s);
- Maintain comprehensive communication with Inovalon management and appropriate internal personnel, vendors, and customers regarding timelines, readiness, needs, risks, cost implications, resource requirements, and all other material aspects related to the Identified product(s) Plan(s);
- Actively drive and seek opportunities to leverage Inovalon-wide products, capabilities, data, and processes to deliver best-in-class SaaS products.
- Establishes and monitors key metrics to drive adoption of Agile processes and tools in partnership with Engineering to write product requirements, communicate priorities for sprint and release plans, participates in backlog refinement and retrospectives.
- Serve as a key member of Employer’s management, promoting Employer’s values, driving and supporting Employer leadership in the strategic development of initiatives to identify enhancements which may improve products, services, operations, employee satisfaction, client appeal, process flow, and overall business function, industry reputation, and financial performance of the Company;
- Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position;
- Maintain compliance with Inovalon’s policies, procedures and mission statement; and
- Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of Employer.
Minimum Requirements:
- Minimum 12 years of relevant experience with demonstrable accomplishments in product development, management and enhancement, business strategy, business plan development, market/industry research and competitive analysis
- Minimum of 10 years of experience in healthcare technology
- Minimum of 5 years of experience in managing and growing SaaS based software with portfolios in excess of 35+ applications
- Minimum of 5 years of experience in Agile Framework
- Minimum of 5 years of experience supervising staff in excess of 25 and product lines worth over $150 million
- Minimum of 5 years leading and scaling a customer-facing support function in a fast-moving, high-growth healthcare SaaS organization
Education:
- Bachelor’s or Master’s degree in business-related field
- 10+ years Healthcare experience
- Expertise in the Agile framework and establishes and monitors key metrics to drive adoption of Agile processes and tools in partnership with Engineering to write product requirements, communicate priorities for sprint and release plans, participates in backlog refinement and retrospectives.
- Experience leading a platform or product portfolio
- Salesforce (or similar) experience
Physical Demands and Work Environment:
The physical demands and work environment characteristics described here are representative of those that an employee must meet to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Physical Demands: While performing the duties of this job, the employee may be required to move around the work area; sit for long periods of time; perform manual tasks; perform tasks involved with business travel (including air travel, ground transportation, hotel stays, etc.). The employee must occasionally lift and/or move more 15 pounds (e.g., lifting a suitcase into the overhead bin of an airplane, into the trunk of a taxi, etc.).
- Mental Demands:the employee must be able to follow directions, to get along with others, and handle stress; must be able to manage work from home environment with minimal distractions
- Travel: Travel is expected up to 35%
Compliance / Other:
- Must adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered
- Uphold responsibilities relative to the separation of duties for applicable processes and procedures within your job function
- Maintain compliance with Inovalon’s policies, procedures and mission statement
Inovalon Offers a Competitive Salary and Benefits Package
In addition to the base compensation, this position may be eligible for performance-based incentives.
The actual base pay offered may vary depending on multiple factors including, but not limited to, job-related knowledge/skills, experience, business needs, geographical location, and internal equity. At Inovalon, it is not typical for an individual to be hired at or near the top end of the range for their role, and compensation decisions are dependent upon the facts and circumstances of each position and candidate.
Inovalon invests in associates to help them stay healthy, save for long-term financial goals, and manage the demands of work and personal commitments. That’s why Inovalon offers a valuable benefits package with a wide range of choices to meet associate needs, which may include health insurance, life insurance, company-paid disability, 401k, 18+ days of paid time off, and more.
Base Compensation Range
$205,000—$275,000 USDThis 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.
To review the legal requirements, including all labor law posters, please visit this link
To review the California Consumer Privacy Statement: Disclosures for California Residents, please visit this link
