Health Information Management

Physicians' social network gets $17 million boost

HIM-HIPAA Insider, September 10, 2012

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A venture capitalist September 5 with help of some existing investors contributed $17 million to the booming HIPAA-compliant social network just for physicians, bringing the company’s total raised to $27 million.

The news—reported by VatorNews—adds to the growing success of Doximity, now used by one in seven physicians. Morgenthaler Ventures is the latest investor along with existing investors Emergence Capital Partners and InterWest Partners.
 
Only last November, one in 20 physicians had signed onto the site. UCSF, Stanford, and University of Pennsylvania have created alumni networks within the site, according to VatorNews. In all, the networking site has created more than two million colleague connections, and more than 10,000 patient cases have been discussed. Physicians account for 1,000 referral and expert searches every day via Doximity, according to VatorNews.
 
“We are thrilled to be working with the Doximity team,” said Rebecca Lynn of Morgenthaler Ventures, in a statement. “We’ve built out an extensive thesis in Healthcare IT, and we chose to invest in Doximity because we believe the company is nearing a tipping point. It is poised to transform a number of healthcare’s very large, inefficient markets by giving doctors innovative ways to network and share critical information.”
 
Read more about Doximity in the HCPro HIPAA Update Blog.



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