138: Building a Multi Million Dollar Healthcare Business

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 processes

We post videos of certain podcast episodes, including this episode, which can find on the YouTube Channel.

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Connect with Mike Murphy & Sunstone 

• LinkedIn (Mike Murphy)
  
• Sunstone Advisors

For More:

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 technology, innovative service delivery methods, business models, and organizational structures. Grab a copy of the book: Better Outcomes: A Guide to Humanizing Healthcare. Or, hire Rafi to speak at your organization or event.

Are You Ready to Take Your Healthcare Business to the Next Level?

If you run an innovative healthcare company and are looking to develop a strategy that drives business in the form of qualified leads and sales, reach out. I’d love to talk with you about how I can help help you craft a business development strategy that leverages positioning, market research, stakeholder alignment to drive business development strategy for specific healthcare stakeholders.

Work With Me

Are you building something innovative in healthcare—like a digital health product, service, or platform that’s aiming to truly improve the patient experience?

I help healthcare startups, SaaS platforms, and forward-thinking provider organizations develop clear positioning strategies, identify high-value offers, and build go-to-market plans that actually resonate with both users and buyers.

Whether you're launching a new product, scaling an existing service, or navigating digital transformation, I bring 12+ years of experience across clinical operations, healthcare innovation, and strategic development.

How I help:

• Clarify your product/service positioning so customers “get it”
• Align your offer with real market needs
• Build a Digital Health Roadmap to scale your healthcare organization effectively
• Support business development with industry-informed strategy

I’ve consulted on projects from multi-million-dollar state initiatives to early-stage product launches. My work’s been featured in Forbes, and I also speak at healthcare events and conferences on topics like innovation, digital health, and humanizing care. I also speak and train at healthcare conferences, events, and organizations on topics related to technology-enabled care, healthcare innovation, healthcare positioning, and humanizing the healthcare experience.

👉 Let’s connect and see if we’re a good fit.