Nearly five months after its IPO, physician social network Doximity continues to thrive. The company announced it generated $79.4 million in revenue during Q2 of its fiscal year 2022 earlier this week, a 76% increase over the year-ago period. The platform also grew its users and now counts 330,000 physicians, nurse practitioners, physician assistants and medical students using its telehealth tools in the last quarter.
In the wake of the announcement, MM+M spoke with Doximity co-founder Dr. Nate Gross to discuss the company’s increased investment in telehealth and patient experience, as well as the ongoing scourge of health-related misinformation. The interview has been lightly edited for length and clarity.
MM+M: How has Doximity expanded its telehealth offerings since its IPO?
Nate Gross: First, we partnered with UpToDate, a leader in evidence-based clinical decision support. So this makes it easy for physicians to look up the best standard-of-care information during the telehealth visit – to make sure the advice they’re giving is best-in-class, but also to send their patient educational materials during and after the visit.
A good comparison here are the handouts you get during a patient visit. That hasn’t been able to happen in the virtual world.
MM+M: What else has Doximity done to expand the scope of these visits?
Gross: We added one-tap interpreter access, which can help tremendously if the patient speaks a language other than English. We also added the ability to add a family member, and that’s particularly important because there are a lot of patient visits where a caregiver is at work and is unable to join.
MM+M: What has Doximity done to build confidence in the telehealth experience?
Gross: We added a TV news-like anchor below the clinician in the video visit, which displays the clinician’s name, their credentials, their sub-specialty and their hospital logo. This can actually matter a lot. Particularly if you’re a patient receiving complex care, there might be a lot of different members of the care team engaging with you – it can be a whirlwind. We want to make sure patients have the chance to know who they’re speaking with, and build that trust.
MM+M: What has Doximity learned in recent months after adding these features?
Gross: For one, we’re able to reduce no-shows. Just like in the analog world, there can be reasons why patients can’t make it to the visit, like not having bus fare. In the virtual world, that can be the hurdles of downloading an app and installing it for the first time, logging into that patient portal or having a new laptop or a new model smartphone.
We don’t want any of those barriers to exist in the telehealth that our doctors are providing, so we focus on things like being able to seamlessly move telehealth visits from phone calls to video and back and forth. If a patient is more comfortable or has a device that’s better suited for an older phone, or if they’re in a rural area with a lower bandwidth connection, we’ll be able to seamlessly transition into that experience.
Our solution for patients is app-less. There is no app to install, no portal to log into. The patient’s phone will ring very similarly to how you or I may receive a FaceTime call.
MM+M: How has Doximity tackled problems with misinformation, particularly around vaccines?
Gross: Doximity has an ongoing commitment to ensure that the information going into physician’s news feeds is best-in-class, valid and accurate on our platform. That is something that we continue to invest in. We also invest in making sure that physicians have a substantive and professional platform to discuss emerging science and all the expertise in their field as medicine continues to evolve.
It’s been a very small minority of users – less than one-tenth of 1% – who posted inaccurate claims or violated our community guidelines in that capacity. But we’re continuing to improve there and we make sure information is quickly removed on nights and weekends, while allowing the inside debate of ever-revolving science to continue with a community of licensed medical expert peers.