Description: You could call it social media for physicians, or as the Globe and Mail called it, Instagram for doctors. But for a patient in rural Louisiana, Figure 1 Inc, a Canadian startup, could be called a leg saver. By sharing images on Figure 1, doctors were able to spot that the ulcer on the patient’s leg was a rare disease. Further, through Figure 1 caregivers obtained valuable treatment details and the patient’s problems were cured.
Date: September 16, 2015
1) The article notes that Figure 1 has not figured out what it might do to produce revenue. What strategy would you recommend to generate sufficient revenue from this promising app?
2) What are some of the potential data security issues that emerge in this type of operation?
3) How should Figure 1 Inc account for its start-up and development costs while it seeks adequate revenue streams?