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Doximity Books Successful IPO

June 28, 2021

Doximity went public on the New York Stock Exchange, closing the week with a market cap of almost $10 billion after raising around $500 million in its IPO.

The firm generated $200 million in revenue last fiscal year and produced over $50 million in net income.

Over 150 U.S. health systems have deployed Doximity Dialer Enterprise as a hospital-wide telehealth solution, including six of the top 10 U.S. hospitals. Dialer enables doctors and other healthcare professionals to securely call patients directly from their own smartphones. The company now works with a broad cross section of the nation’s top hospitals and health systems, including Dana-Farber Cancer Institute, UC San Diego Health, Fairview Health Services, and Loma Linda University Health.

Doximity Dialer is a HIPAA- compliant telehealth tool that offers both voice and video-calling capabilities, works with any smartphone, and doesn’t require any additional setup for patients. A recent study published in the Journal of the American College of Surgeons found Doximity Dialer to be "the easiest way to connect with patients." In addition, recent research by RAND Corporation indicates Doximity Dialer saw a 1,200% increase in engagement during the pandemic as physicians transitioned from in-person patient visits to telemedicine.

“The telehealth program at Loma Linda University Health offers patients a safe and convenient way to receive care, without ever having to leave their home," said Dr. Ricardo Peverini, Loma Linda University Health. "Dialer Enterprise helps us expand access to care and improve overall clinical experience for patients. The ability to send a video link to patients by text message ensures patients can access their visit easily and their appointment will not be missed."

Doximity has recently added a number of new features to its Dialer tool, including:

Dialer on desktop: Users can take advantage of the bigger screen to see patients better or review patient charts during their visit.

Screen-sharing: Healthcare professionals can share their screen with patients to review lab results, imaging, x-rays, and more.

Add an interpreter: Clinicians can now add their preferred language interpreter service to a patient visit with a single tap.

Group calling: Easily add a family member to a patient’s visit or bring a colleague into the discussion.

Patient handoff: Quickly transfer a video call to a colleague or staff member.

“Patient expectations have changed through the pandemic, as has day-to-day life for many of our members in the medical community. Telehealth is part of this evolution and we’re proud to say that Dialer has been an important tool in helping to facilitate this transition to virtual care,” said Peter Alperin, MD, Vice President of Product at Doximity. “That we’ve become the ‘physicians favorite’ and one of the most used telehealth platforms is humbling to our team.”

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