Doximity

{{Infobox company

| name = Doximity, Inc.

| logo = Doximity.svg

| former_name = 3MD Communications, Inc.

| type = Public

| traded_as = {{ubl|{{NYSE|DOCS}} (Class A)|S&P 400 component}}

| hq_location = {{nowrap|San Francisco, California, U.S.}}

| key_people = Jeff Tangney (CEO)[https://venturebeat.com/2012/07/06/facebook-for-doctors-doximity/ "Venturebeat.com - Facebook for Doctors Network Doximity Tackles America’s 5th-leading Cause of Death"]

| founded = {{Start date and age|2010|06}}

| founders = {{ubl|Nate Gross| Jeff Tangney| Shari Buck}}

| industry = Internet

| revenue = {{increase}} {{US$|475.4 million|link=yes}} (2024)

| operating_income = {{increase}} US$163.9 million (2024)

| net_income = {{increase}} US$147.6 million (2024)

| assets = {{decrease}} US$1,079.4 million (2024)

| equity = {{decrease}} US$901.4 million (2024)

| num_employees = 827 (2024)

| website = {{url|https://doximity.com}}

| footnotes = Financials {{asof|2024|03|31|df=US|lc=y}}.{{cite web |title=Doximity, Inc. FY 2024 Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1516513/000151651324000035/docs-20240331.htm |publisher=U.S. Securities and Exchange Commission |date=23 May 2024}}

}}

Doximity is an online networking service for medical professionals. Launched in 2010, the platform offers its members curated medical news, telehealth tools, and case collaboration.{{Cite web|date=2021-06-27|title=Doximity: Potential Teladoc Killer|url=https://seekingalpha.com/article/4436828-doximity-stock-docs-potential-teladoc-killer|url-status=live|access-date=2021-07-23|website=Seeking Alpha|language=en-US|archive-url=https://web.archive.org/web/20210627214610/https://seekingalpha.com/article/4436828-doximity-stock-docs-potential-teladoc-killer |archive-date=2021-06-27 }}

History

The company was launched in March 2011 by co-founders Nate Gross,{{Cite web|url=https://www.modernhealthcare.com/article/20170107/MAGAZINE/301079981/doximity-a-social-media-platform-doctors-can-trust|title=Doximity: A social media platform doctors can trust|date=2011-09-07|website=Modern Healthcare|language=en|access-date=2019-04-19}} Jeff Tangney{{Cite web|url=https://www.crains.com/if-i-knew-then/jeff-tangney/doximity|title=Jeff Tangney|last=CEO|first=Doximity|date=2017-10-18|website=Crain's|language=en|access-date=2019-04-19}} and Shari Buck.{{Cite web|url=https://www.forbes.com/sites/forbestechcouncil/people/sharibuck1/|title=Forbes Technology Council|last1=Buck|first1=Shari|website=Forbes|language=en|access-date=2019-04-19}}

By 2013, it became one of the largest networks for U.S. healthcare professionals, with approximately 10 percent of U.S. doctors as members.{{Cite web|url=https://venturebeat.com/2014/12/09/doximity-the-linkedin-for-doctors-has-signed-up-more-than-half-of-u-s-physicians/|title=Doximity — the 'LinkedIn for doctors' — has signed up more than half of U.S. physicians|date=2014-12-09|website=VentureBeat|language=en-US|access-date=2019-04-19}}[https://www.washingtonpost.com/blogs/innovations/wp/2014/12/09/doximity-the-social-network-for-physicians-continues-impressive-growth// "Washington Post: Doximity, the social network for physicians, continues impressive growth]{{Cite web|url=https://www.inc.com/laura-montini/doximity-signs-up-half-of-all-us-physicians-for-its-social-network.html|title=Half of All Doctors Use This Social Network You've Never Heard of|last=Montini|first=Laura|date=2014-12-09|website=Inc.com|access-date=2019-04-19}} By the beginning of 2014, 40 percent of U.S. physicians became members.{{Cite web|url=https://www.gsb.stanford.edu/faculty-research/case-studies/doximity-financing-social-network-physicians|title=Doximity: Financing a Social Network for Physicians|website=Stanford Graduate School of Business|language=en|access-date=2019-04-19}}{{Cite web|url=https://techcrunch.com/2014/03/15/with-40-of-u-s-doctors-signed-on-doximitys-jeff-tangney-reveals-how-the-social-network-for-m-d-s-hit-the-tipping-point/|title=With 40% Of U.S. Doctors Signed On, Doximity's Jeff Tangney Reveals How The Social Network For M.D.s Hit The Tipping Point|website=TechCrunch|date=15 March 2014 |language=en-US|access-date=2019-07-22}} In 2018, the company announced that it had reached 1 million members, accounting for more than 70 percent of U.S. physicians.{{Cite web|url=https://www.beckershospitalreview.com/patient-engagement/doximity-hits-1m-member-milestone-in-2017-3-things-to-know.html|title=Doximity hits 1M member milestone in 2017: 3 things to know|website=www.beckershospitalreview.com|date=22 February 2018 |access-date=2021-06-20}} Today, Doximity serves more than 2 million registered members, including over 80 percent of U.S. physicians and over 50 percent of nurse practitioners and physician assistants.{{Cite web|url=https://www.fiercehealthcare.com/health-tech/doximity-brings-155m-profit-2021-stock-slides-after-disappointing-revenue-forecast|title=Doximity brings in $155M profit in 2021|website=www.fiercehealthcare.com|date=18 May 2022 |access-date=2022-05-25}}

In 2016, the company was ranked #6 on the Deloitte Technology Fast 500 list.{{Cite web|url=https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/us-tmt-2016-fast-500-winners-brochure.pdf|title=Deloitte Technology Fast 500 Winners 2016|website=www2.deloitte.com|access-date=2021-06-20}}

In November 2019, Doximity was listed on the Deloitte Technology Fast 500 list for the fourth consecutive year.{{Cite web|url=https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/us-tmt-fast-500-2019-winners-list.pdf|title=Deloitte Technology Fast 500 Winners 2019|website=www2.deloitte.com|access-date=2021-06-20}}

In May 2020, Doximity Launched Dialer Video, a video telehealth app allowing physicians to video call patients through personal smartphones.{{Cite web|url=https://www.bizjournals.com/sanfrancisco/news/2020/07/09/telemedicine-doximity-san-francisco-video-app.html|title=SF Digital health company launches new feature to help physicians securely video call patients|website=www.bizjournals.com|access-date=2020-07-22}}

In June 2020, Doximity Acquires THMED and launches the Curative Brand. Curative is a staffing and recruiting company offering permanent and [https://curativetalent.com/ Locum/Temporary] placement services.{{cite web|url=https://www.mg21.com/docs.html |title=Digital physicians network Doximity Inc(DOCS) |publisher=USSTOCK|date=2021-05-28}}{{cite web|url=https://press.doximity.com/articles/doximity-acquires-thmed |title=Doximity Acquires THMED, Launches Curative Brand |publisher=doximity.com|date=2021-05-28}}

In May 2021, Doximity, a professional network for physicians with telehealth and scheduling tools, filed for an initial public offering (IPO) seeking to raise $100 million. Morgan Stanley, Goldman Sachs and J.P. Morgan Securities were the lead underwriters for the IPO. Doximity raised nearly $606 million in its IPO.{{cite web|url=https://www.renaissancecapital.com/IPO-Center/News/82185/Digital-physicians-network-Doximity-files-for-a-$100-million-IPO |title=Digital physicians network Doximity files for a $100 million IPO |publisher=Renaissancecapital|date=2021-05-28}}{{cite web | url=https://www.fiercehealthcare.com/tech/doximity-shares-leap-public-debut-as-physician-social-network-raises-600m-ipo | title=Doximity doubles in public debut and blows away IPO goal with $600M haul | date=25 June 2021 }}

Investors

In April 2014, the company announced it had raised a $54 million financing round led by the venture capital firm Draper Fisher Jurvetson and the mutual fund company T. Rowe Price. Morgan Stanley Investment Management also invested. This investment brought Doximity's total funding to $81 million.{{cite web|last=Alden|first=William|title=Doximity, an Online Network for Doctors, Raises $54 Million|url=https://dealbook.nytimes.com/2014/04/29/doximity-online-network-for-doctors-raises-54-million/|work=New York Times|date=29 April 2014 |access-date=29 April 2014}}

Doximity received $10.8 million in venture capital funding from Emergence Capital Partners and Interwest Partners in March 2011, and $17 million in Series B funding led by Morgenthaler Ventures in September 2012.{{Cite web|url=https://techcrunch.com/2011/03/16/doximity-raises-10-8m-helps-physicians-connect-on-the-web-and-on-the-go/|title=Doximity Raises $10.8M, Helps Physicians Connect On The Web – And On The Go|website=TechCrunch|date=16 March 2011 |language=en-US|access-date=2019-04-19}}[http://www.prnewswire.com/news-releases/doximity-raises-17-million-series-b-led-by-morgenthaler-ventures-168665156.html/ "PRNewswire.com - Doximity Raises $17 Million Series B Led by Morgenthaler Ventures"]

Products

=Dialer=

In 2016, Doximity built Dialer, a free communication tool for physicians to call their patients. The Doximity Dialer app allows physicians to call patients from their personal cell phone, and the patient sees the doctor's office number on caller ID.[https://syneoshealthcommunications.com/blog/doximity-reaches-nearly-3-of-4-us-physicians Doximity Reaches Nearly 3 of 4 US Physicians], Syneos Health Communications, Nov. 2016

=Dialer Video=

In May 2020, Doximity released Dialer Video, a telemedicine tool that allows physicians to video call their patients directly from their own smartphones.{{Cite web|url=https://www.medicaleconomics.com/news/doximity-launches-dialer-video-connect-primary-physicians-their-patients|title=Doximity launches dialer video to connect primary physicians with their patients|website=www.medicaleconomics.com/|date=5 May 2020 |access-date=2021-06-20}}

In July 2020, Doximity said that more than 100,000 U.S. Doctors use Dialer Video, its telemedicine app.{{Cite web|url=https://www.bizjournals.com/sanfrancisco/news/2020/07/09/telemedicine-doximity-san-francisco-video-app.html|title=More than 100,000 doctors are already using this telemedicine video app|website=wwww.bizjournals.com|access-date=2021-06-20}}

Acquisition

In June 2020, Doximity acquired THMED, a healthcare company. Following the purchase, THMED changed its name to Curative and started concentrating on customized medical-personnel queries.{{Cite web|last=|first=|date=17 June 2020|title=Doximity acquires healthcare staffing company THMED|url=https://www.mobihealthnews.com/news/doximity-acquires-healthcare-staffing-company-thmed|url-status=live|archive-url=https://web.archive.org/web/20200617223447/https://www.mobihealthnews.com/news/doximity-acquires-healthcare-staffing-company-thmed |archive-date=2020-06-17 |access-date=29 June 2020|website=mobilehealthnews}}

In February 2022, Doximity acquired Amion, an on-call doctor scheduling company.{{Cite web|last=|first=|date=8 February 2022|title=Doximity Acquires Doctor Scheduling Company Amion For $82.5 Million|url=https://www.forbes.com/sites/katiejennings/2022/02/08/doximity-acquires-doctor-scheduling-company-amion-for-825-million/ |url-status=live|archive-url=https://web.archive.org/web/20220915061123/https://www.forbes.com/sites/katiejennings/2022/02/08/doximity-acquires-doctor-scheduling-company-amion-for-825-million/ |archive-date=2022-09-15 |access-date=17 May 2024|website=forbes}}