US citizens are swimming in healthcare data, but the data isn’t always easy to access because it’s stored in different formats on different computer systems. Troy Bannister joins Startup Savants to talk about his health tech startup Particle Health, which aims to address this issue.
- Startup Savants is a business podcast that tells the stories behind up-and-coming startups.
- Troy Bannister joins Startup Savants to discuss launching his heathtech startup Particle Health.
- Particle Health aims to address a major problem in healthcare: the lack of usable, accessible data.
Data Access Is a Long-Standing Problem
Bannister has worked as an EMT and in the healthcare VC space. As a result, he has seen firsthand how healthcare data is often inaccessible or unusable because the various hospital and healthcare network computer systems on which the data is stored can’t talk to each other. He co-founded Particle Health in 2018 to try to solve this problem.
“When I looked back on my whole career, I just saw this consistent issue where no matter where I was in the ambulance, the hospital, doing research, or working with entrepreneurs, nobody had access to clinical data,” he said during his interview with Startup Savants. “The best option was the fax machine, and still is funny enough today. I thought, ‘This is a problem worth solving.’ I jumped in and put my boots to the ground and started going.”
Unifying Patient Records
Particle Health has developed a modern application program interface (API) platform that unifies patent healthcare records – more than 270 million of them for patients around the US. Using Particle Health’s API, patients can now access their data securely and easily. Developers can also use the data to come up with innovative healthcare products and services.
During his interview with Startup Savants, Bannister talked about how he wants to make Particle Health’s early successes sustainable by setting achievable goals and not overreaching. In other words, he said, the “growth at all costs” mindset is one to avoid.
“The priority now is, how do we turn this into a really healthy business, as opposed to a growth at all cost business?” he said during his interview. “We’re going to go for really healthy steps towards really healthy business metrics … The good thing is, we have a really awesome leadership team that’s been around the block before. We already have a bunch of systems in place that can accommodate for a lot more people on the team … I think we have a really good foundation right now to double the size.”
Startup Savants Podcast
The Startup Savants podcast is a business podcast created by The Really Useful Information Company (TRUiC). Listeners can hear the stories behind startups, as told by their founders, who are in the midst of growing their companies.
Entrepreneur Ethan and branding expert Annaka are the hosts of the Startup Savants podcast. Their unique life experiences compliment one another and allow them to bring disparate perspectives to their interviews. In turn, listeners receive important business insights and a holistic perspective on the startup ecosystem.
The hosts interview a variety of real startup founders from around the globe about how they made their startup ideas a reality. These experts share their industry knowledge on funding, growth strategies, and more on the Startup Savants podcast.
In his interview with Startup Savants, Troy Bannister explains to listeners how he identified a major problem in the healthcare industry that he personally experienced during the early part of his career and founded a company to address it.