138 Building a Multi Million Dollar Healthcare Business

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How do go about starting and scaling a multi million dollar healthcare business?

When I speak and train at healthcare organizations and tech startups, the topic of scale & growth come up regularly. Often, this is in the context of go to market & business development strategy. Many founders and owners of healthcare businesses aspire to grow a multi million dollar healthcare business. But, healthcare's complexity poses challenges to new healthcare ventures as they start and scale. 

So, this week, I sit down with Mike Murphy from Sunstone Management Advisory to discuss how he went about building a business to half a billion dollars or revenue, his work doing healthcare turnarounds, and the keys to building and scaling healthcare businesses into multi million dollar companies. 

What we cover in this Episode:

-Mike's career path starting as an underwriter and transitioning to managing insurance plans 
-The key elements of business growth 
-Starting a healthcare business in a way that scales
-Building a leadership team for your healthcare business
-Go to Market Strategy in healthcare 
-Understanding who your target market is
-Achieving Better Outcomes through solid business practices 

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What is The Better Outcomes Show?

Exploring the possibilities of a new healthcare.



Let’s get real: Healthcare is broken. You know it. I know it. Every clinician who came into this field from a desire to care for others, knows this to be undeniably true. We feel it everyday when we enter our clinics, hospitals, and practices. We feel the burden of time-based productivity metrics, utilization rates, and the expectation to behave like cogs in a giant, soul-crushing machine aimed at extracting revenue from our patients in exchange for “units” of treatment.



Healthcare should be about one thing: PEOPLE! Yet how many clinics, organizations, or healthcare professionals live their lives by the numbers? Metrics & spreadsheets drive most of our healthcare decision makers and administrators. That leaves patients -the people we serve- lost in the mix. Patient’s feel lost, forgotten, and ignored by a system that prioritizes efficiency & productivity over their own personal experiences, priorities, or goals.



It’s time for clinicians to finally stand up and say what we’ve all been thinking for so long: enough is enough!



It’s time for healthcare organizations to commit to serving the individual needs of each unique patient that they are charged with serving.



Join Rafael E. Salazar II, MHS, OTR/L (Rafi), principal of Rehab U Practice Solutions and host of The Better Outcomes Show as he explores the possibilities of a new healthcare. Guests range from clinicians trying new techniques and treatments to executives and entrepreneurs exploring new service delivery methods, business models, and organizational structures.