The Entrepreneur Mindset With Troy Bannister of Particle Health


 

Summary of Episode

#22: Troy joins Annaka and Ethan to share his story founding Particle Health, a company working to innovate healthcare systems and improve accessibility to healthcare data using their API. Troy walks us through his journey of becoming an expert in a changing field, creating sustainable goals using OKRs, and building a company culture from the ground up.

Troy Bannister is the CEO and founder of Particle Health, a startup working to revolutionize data sharing across the healthcare industry. Troy’s experience with patient care began while working as an EMT. He considered pursuing a career in medicine but ultimately went on to work in the healthcare VC space. Troy’s experience within the healthcare industry showed him the difficulties associated with trying to transfer patient data from one healthcare system to another, and he ultimately decided to create Particle Health in order to innovate the digital healthcare space.

Full Episode Transcript

Podcast Episode Notes

From working as an EMT to finding a niche within the virtual health industry [1:10]

The problem: Why can’t we easily get medical records from one doctor to another? [3:34]

Developing an API that connects hospital systems and allows data to be easily shared [6:06]

How Troy quit his job without a plan [7:18]

Learning how to jump into the unknown [9:28]

Working to understand industry laws and researching how to address this problem [10:17]

Zooming into a target market and niching down to focus on one target audience [12:36]

Taking a year to fill up your calendar and validate your product [15:27]

Building credibility and crafting a winning pitch to receive funding [18:13]

Troy’s advice — you need an enormous vision and a realistic plan [21:49]

Transitioning to a remote work environment [23:22]

How to approach your company during periods of burnout [29:02]

Hiring the right people is essential for creating a great company culture [30:33]

The growing pains of scaling and learning to build a working structure [33:02]

Using OKRs and KPIs to create quantifiable goals [36:12]

Many decisions depends on your current mindset, and you need to find out how to achieve the best mindset for making those decisions [39:42]

Starting a company was the only thing that was exciting to Troy and allowed him to take the plunge into entrepreneurship [43:35]

Troy’s prediction for the future of the healthcare industry [46:15]

Scaling to be a healthy business rather than trying to grow at all costs [48:27]

As the economy changes and buying cash becomes more expensive, evaluations decrease and become more dependent on revenue [49:27]

Entrepreneurship is hard and does not have an off switch [51:55]

Troy’s advice for founders — expect things to take at least five times as long as you initially thought [53:32]

Tell Us Your Startup Story

Are you a startup founder and want to share your entrepreneurial journey with our readers? Click below to contact us today!

Request an Interview

More on Particle Health

Particle Health website.

This Founder is Solving a Pain Point He Identified as an EMT

Particle Health is a health tech startup solving an industry-wide pain point identified by founder Troy Bannister during his time as an EMT. This is their origin story. 

Read More

Particle Health co-founder, Troy Bannister.

Founder of Health Tech Startup Particle Health Shares Their Top Insights

Troy Bannister, founder of Health Tech startup Particle Health, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.

Read More

Particle Health website.

Here’s How You Can Support Health Tech Startup Particle Health

We asked Troy Bannister, founder of Particle Health, to share the most impactful ways to support their startup, and this is what they had to say.

Read More

Particle Health logo.

Particle Health Company Profile

Kevel is an adtech startup that creates custom ad platforms for companies looking to launch impactful ad campaigns.

Read More