The stipulation and growth of our society has been a function of individuals who are able to think differently and provide unique answers to solving our world’s problems. This process ultimately produces what is termed as “disruptive innovations”, which revolutionize industries by bringing products previously limited to the elite, to a wider consumer base.
In the context of the article cited above, entrepreneur Jonathan Rothberg aims to alter the healthcare industry by bringing to market a portable handheld ultrasound scanner that is “as cheap as a stethoscope”. By integrating software to scan for anomalies and diagnose illnesses, this device could be sold cheaply around the world and operated by any technician with basic training. Potentially, this device could be used as a vehicle to vastly improve quality of life, especially in developing countries around the world, where the level of incorrect diagnosis remains unacceptably high.
Previously, an ultrasound scanner cost somewhere in the neighborhoods of six million, however by eliminating the cost barrier of this technology, Butterfly technologies positions themselves to monopolize the market. Additionally, in possessing the first movers advantage the firm could potentially be able to expand their technologies for use in other capacities. The automation of healthcare and reduction in the cost of operations presents a huge opportunity for providing better treatment for patients around the world, as well as a step towards decreasing the gap in quality of health care offered around the world.
Sources:
http://www.technologyreview.com/news/532166/with-100-million-entrepreneur-sees-path-to-disrupt-medical-imaging/
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