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Product Management is a fascinating world. Few roles allow the possibility to have contact with such a diversity of roles, both inside and outside an organization. It is at the forefront of innovation and strategy, and relies on the deep understanding of the market and user needs. At the same time, few people have actively decided to become a Product Manager (PM). As Steven Haines, one of my favorite authors on Product Management, says: most of the people get here by accident. In healthcare, there are two main paths: technical roles that acquire skills in sales & marketing or sales roles that expands technical skills. But how these skills should be developed exactly? The answers available tend to be too general, and not applicable to the healthcare business. In this guide, I’ll present the various ways a PM can successfully navigate a uniquely challenging environment where the need for evidence of safety and efficacy, tight marketing budgets, and resistance to change from caregivers tightly circumscribe the framework of healthcare marketing.
In the first part, we’ll cover the fundamentals of Product Management, as well as concepts essential to the understanding of this fascinating organizational function. Most of this information can be applied in different fields and healthcare, with its peculiarities, is no exception. This is just a short resume of the basics we need to do this job.
The second part is about the interactions of Product Management with other functions and disciplines of companies in the Medical Device Industry. This is the most exciting, and perhaps also the most complex, part of the job. This is the information we can’t find in books, that we learn on the road, or, if we are lucky, with mentors and colleagues. While the first and the third part are applicable to other marketing roles or to other areas within healthcare, much of the content in this second part are specific to Product Management in Medical Devices.
Part three is basically a tool box. A place to go when not knowing where to start, when finding yourself in a rut, or just if you want to have a look on some of the consolidated options available to evaluate the situation, develop options and make informed decisions.
Having undergone many courses in healthcare marketing and immersed myself deep in the work of the famous marketing authors, I came to the conclusion that the content provided was often too generic and not directly applicable to the Medical Device indusrty. My goal is to provide some tools, or at least a perspective, that can be easily understandable and applicable for most products of this type. This is the information I wish I had had at my disposition on day 1 of my marketing career in medical devices. I hope you enjoy it!