Article’s author and affiliation and the name of the business venture and its founder(s) with biographical information
According to the two authors of Bloomberg Businessweek Torres and Saraiva (2018), the name of the company is ChartSpan, and was started by two brothers namely Patrick Carter and Jon-Michial Carter ( Torres & Saraiva, 2018) . Patrick used to work as physician assistant, while his brother Jon-Michial was in the field of broadcast journalism. They decided to join hands and start a company known as Chartspan, which came up with software to enable patients gain access to their health documents with ease. The application also makes it easier for patients to communicate with their health providers ( Torres & Saraiva, 2018) .
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The venture’s founding, form of ownership, and source of funding
The form of partnership is purely partnership. The two brothers resolved to work as a team, with each bringing his expertise on the table. According to them, they had always wanted to work together, combine their knowledge and establish something entrepreneurial. The two businessmen raised their capital of $3 million from the initial application, and they intend to use the funds to ensure they realize success ( Torres & Saraiva, 2018) .
The reason for the venture’s creation (i.e., why did the founder(s) decide to start the business? What opportunity was recognized?) and major goals and objectives
The founders decided to start the business in order to make it easy for the patient information to be found and connect with the existing patients. According to one of the businessmen, Patrick Carter, who was in the medical profession, he started his career when medical documents were kept in note cards ( Torres & Saraiva, 2018) . Even when digital records were introduced, it was still an uphill task to get patient’s information. The major goal of Chartspan is to make it easier for both the patient and the health provider access health information ( Torres & Saraiva, 2018) . It focuses mainly on the patient, and ensuring they gain access to the medical reports whenever needed. The developers of the application believe that the patients own the documents and in that sense, they ought to be provided a platform to manage their healthcare.
Information about its business model, target market, and competitors
The business model is purely online, given that the software operates on Apple computers and Android mobile gadgets. The target market comprises the patient. The patients are given a platform to access their medical data, ranging from X-rays, and sending information to the healthcare providers ( Torres & Saraiva, 2018) . The software is designed to ensure the information is safe and secure. Currently, the company has no tangible competitor; especially because the software is free for all patients, save for the doctors, who pay a small fee to access data analytics ( Torres & Saraiva, 2018) .
Overall impressions of the venture and recommendations for its future
In overall, the software is timely and fashionable in this era of digital technology. Considering it is free to use for all patients, it makes it easy for all to access and actually embrace it. Considering the latest application has received over 250,000 downloads in just sixty days, it shows patients and doctors have accepted it ( Torres & Saraiva, 2018) . In future, the two brothers should organize campaigns to create awareness and increase the number of active users. The developers should ensure that the application is fast enough to provide patient information in real-time. In the same vein, the interface should be attractive and easy to use for all the users. In future, the application should be designed to show the patients, the nearest healthcare facilities to access treatment.
References
Torres, C. & Saraiva, C. (2018). The New Startup South. Bloomberg Businessweek.
