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Healthcare in digital world:

The latest advancements in technology along with the global shifts in the political and economic climate have changed the way the medical industry operates. The fact that the industry is highly regulated and has strict privacy laws to follow makes it even more difficult to innovate.

Traditional Medical institutions are also facing a new challenge to attract new patients as well as retain them. The digital revolution has changed the way we use to communicate, do shopping and even how we interact socially.

And now this revolution has reached the medical industry as well. Medical Institutions now need to have a strong online presence to attract patients. This is why the medical industry as a whole needs to focus on digital marketing.

Not only is the medical industry highly competitive but it is also highly regulated. This makes it even more difficult to run an online marketing campaign. But it is not impossible. The key is to have a well thought out strategy that will help you to increase your patient pool.

Let’s look at some of the key job responsibilities of a VP of product in a medical company.

1. Setting the product vision:

The first and the foremost responsibility of a VP of product is setting the product vision. The vision for your digital product must be clear and concise. The vision must be strong enough to motivate the team and keep them engaged. You must be very clear on what you are trying to achieve with your digital product and how you are going to achieve it.

The product vision will also help you in deciding where the product is heading. You should be able to take the next steps in the product roadmap with your vision in place.

2. Setting the product strategy:

After setting your product vision, you must set a product strategy that will help you achieve your goals. Your product strategy must be well thought out. It must also be aligned with your product vision and must be in line with your business goals.

The product strategy must include the product roadmap, the product roadmap for each department as well as the goals for each department. This will help in motivating each team to work towards a common goal.

3. Managing the product roadmap:

The next important responsibility of a VP of product is managing the product roadmap. The roadmap must be strategic and it must be in line with the overall strategy for your digital product, as well as your company’s overall vision. It must also be aligned with your goals as well.

4. Managing the product backlog:

A VP of product is also responsible for managing the product backlog. The backlog should clearly define the next tasks that need to be completed for the product to be successful. The backlog should also include the details of each task, its impact on the customer, and its overall importance. It should also be prioritized in a way that it will help you complete your goals on time.

A VP of product must make sure that every single task on the backlog is aligned with the product vision and the overall strategy for the product. It should also ensure that the team is moving towards the right direction at all times.

5. Managing the product team:

A VP of product must manage the product team and keep them motivated and engaged at all times. This means that he must lead them and keep them up to date on all matters.

He must make sure that the team is growing and working in a productive and functional manner.

A VP of product must always be alert to changes in the market and the industry trends.

He must be able to predict the future demand of the product. This way he can make changes in the product roadmap accordingly.

7. Managing stakeholders:

A VP of product must maintain and manage all the stakeholders for the product. This includes customers, employees, and the management as well. He must be able to handle any questions, queries or complaints they might have. He must also be able to prioritize the customer requests and ensure that they are given priority over other requirements.

8. Managing product releases:

A VP of product must manage product releases. He must be able to predict future customer demands as well as any issues that might arise for the product in the future. This way he can release the product according to the requirements of the customers.

He must be able to strategically launch the product in a manner that it will increase customer loyalty and will also keep them engaged.

9. Managing product marketing:

A VP of product must also be responsible for managing product marketing. He must be able to create a buzz around the product by marketing it effectively. He must also be able to build brand loyalty through effective marketing.

10. Managing product pricing:

A VP of product must also be responsible for product pricing. This is because a major part of a company’s revenue is generated through their digital products. A VP of product must understand this well and have a good grip on pricing strategies for each product. He must also understand how each pricing strategy will impact sales and revenue as well as overall customer satisfaction.