6 ms·

Medicine’s Answer to Instagram, Figure 1, Raises $2M

9 points by bwertz 13y ago

greenyoda 13y ago
"Figure 1 currently offers its app free and has not yet generated revenue. However, Mr. Chabra believes, “If they continue to grow at the [current] pace, they will have lots of monetization options in the near future,” thanks to their reach and engagement with the world’s 30 million medical professionals, and medical students and dentists too. In the U.S., health-care and pharmaceutical companies will spend $1.18 billion on digital advertising this year, according to eMarketer research." I'm not sure why they're even thinking of advertising as a revenue model. Unlike Instagram, the number of people who will look at any given image is very small. Also, it wouldn't inspire patients' confidence to see ads plastered all over a screen in their doctors' offices; it just doesn't look professional. (Nor would an ad-supported service seem professional to the doctors who use it.) It makes much more sense to charge for subscriptions to this service. Hospitals or large practices could get volume discounts.
- niels_olson 13y ago
  I provide some images-with-commentary service through weekly unknowns on reddit's pathology subforum(1). I like this in theory, I'm going to give it a whirl, but not sure how I will use it. I think clinical-rads-path correlations would be great. If I could browse to a differential or a final diagnosis and work through the case, starting from either end, that would be helpful. Sort of like the New England Journal's case of the week series (2) but more accessible on the go. (1) http://reddit.com/r/pathology http://reddit.com/r/pathology (2) http://www.nejm.org/medical-articles/case-records-of-the-massachusetts-general-hospital http://www.nejm.org/medical-articles/case-records-of-the-mas...
- zellyn 13y ago
  While the number of views may be small, the potential payoff could be huge. Drug companies advertise with doctors, give free samples, etc. for a reason.
  - greenyoda 13y ago
    But the average doctor is already inundated with ads from drug companies. Would there be a big payoff from having yet another place where they're advertised to? Also, an ad in a medical journal is less obtrusive than an ad that's shoved in the doctor's face while she's trying to get a consult on an MRI. Doctors may find ads in their workstream to be distracting and annoying. I certainly would.
    - jlandy 13y ago
      Hi guys, I'm Josh Landy, one of the founders of Figure 1. As a practicing physician, I am (very) sensitive to the need for an unobstructed workflow. We are hoping to build a really strong product, and suggestions like these keep us on the right track. Thanks for bringing it up.

9 points by bwertz 13y ago

"Figure 1 currently offers its app free and has not yet generated revenue. However, Mr. Chabra believes, “If they continue to grow at the [current] pace, they will have lots of monetization options in the near future,” thanks to their reach and engagement with the world’s 30 million medical professionals, and medical students and dentists too. In the U.S., health-care and pharmaceutical companies will spend $1.18 billion on digital advertising this year, according to eMarketer research." I'm not sure why they're even thinking of advertising as a revenue model. Unlike Instagram, the number of people who will look at any given image is very small. Also, it wouldn't inspire patients' confidence to see ads plastered all over a screen in their doctors' offices; it just doesn't look professional. (Nor would an ad-supported service seem professional to the doctors who use it.) It makes much more sense to charge for subscriptions to this service. Hospitals or large practices could get volume discounts.

niels_olson 13y ago
I provide some images-with-commentary service through weekly unknowns on reddit's pathology subforum(1). I like this in theory, I'm going to give it a whirl, but not sure how I will use it. I think clinical-rads-path correlations would be great. If I could browse to a differential or a final diagnosis and work through the case, starting from either end, that would be helpful. Sort of like the New England Journal's case of the week series (2) but more accessible on the go. (1) http://reddit.com/r/pathology http://reddit.com/r/pathology (2) http://www.nejm.org/medical-articles/case-records-of-the-massachusetts-general-hospital http://www.nejm.org/medical-articles/case-records-of-the-mas...
zellyn 13y ago
While the number of views may be small, the potential payoff could be huge. Drug companies advertise with doctors, give free samples, etc. for a reason.
- greenyoda 13y ago
  But the average doctor is already inundated with ads from drug companies. Would there be a big payoff from having yet another place where they're advertised to? Also, an ad in a medical journal is less obtrusive than an ad that's shoved in the doctor's face while she's trying to get a consult on an MRI. Doctors may find ads in their workstream to be distracting and annoying. I certainly would.
  - jlandy 13y ago
    Hi guys, I'm Josh Landy, one of the founders of Figure 1. As a practicing physician, I am (very) sensitive to the need for an unobstructed workflow. We are hoping to build a really strong product, and suggestions like these keep us on the right track. Thanks for bringing it up.