A quick call to a doctor can save lives. This is exactly the
lesson Docquity co-founder Indranil Roychowdhury found out after his
father was admitted to the hospital suffering from a serious illness in
India. The doctor at the emergency room initially advised him it was
unlikely to surviving, however, a different doctor contacted one of his peers
from America. United States, and they developed a new treatment that was
successful. Docquity was designed to let doctors collaborate in a similar
method, in a large the same scale, even though they are in different countries.
The company based in Singapore announced today it had raised $44 million
from Series C capital led by former investor Itochu Corporation, which put in
$32 million. The remainder of the funding came from investors like iGlobe
Partners, Alkemi, Global Brain, KDV and Infocom.
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Roychowdhury revealed to Business Headers that, following his father’s death the
co-founders of Docquity, Amit Vithal and Abhisek Wadhwa wondered what it was
that “in today’s day of social media, it took a phone call to save
someone’s life.” Docquity was created in 2015 to help doctors and other
health professionals can have a more efficient method of working together.
The new funding brings Docquity’s total of raised funds up to $57.5
million. It claims it is the largest network of health specialists within
Southeast Asia, with more than 350,000 doctors in its network. The funds
is intended to increase the size of Docquity within its current markets, such
as Indonesia and Philippines and to expand into new markets, such as Japan as
well as in the United Arab Emirates, Saudi Arabia and Egypt. The company
recently opened in Taiwan with more than 2500 medical professionals have signed
on to date. The company has claimed to see two-fold revenue growth by
2021.
The company currently has 300 employees and, in addition to it’s Singapore
headquarters, they also have an engineering and technology headquarters
situated in Gurgoan, India, and additional offices in Indonesia and in the
Philippines, Malaysia, Thailand, Vietnam and Taiwan.
Alongside providing doctors with tools to collaborate and connect, Docquity
has partnered with more than 250 medical organizations in Southeast Asia to
develop learning modules that are able to be used for earning CME (CME)
credit. Docquity says that to date, its platform has helped doctors earn
an aggregate of 4.2 millions CME credits.
Docquity is a platform with three main features. One of them, Docquity
Academy, partners with top medical institutions and universities to create
practitioners to develop educational equipment for medical
professionals. Another, Docquity Clinic, allows doctors to conduct
follow-up consultations with patients. Additionally, Docquity Insights takes
data about the user’s engagement on the platform in order to comprehend what
they require.
Roychowdhury stated that, in the average, around 10,000 doctors use its
platform each month, in addition, it was among the very first businesses to
start offering online seminars and online lectures after the outbreak began in
the year 2020. The platform hosts around 500 lectures each
month. Doctors who attend the classes are also able to be part of private
groups that discuss actual cases and the best treatment options.
“While teaching and exam-style education is a key component, we believe
that experiential learning through case discussions among peers in a major
learning source for doctors,” said Roychowdhury.
Docquity protects the privacy of its patients with numerous methods. It’s
a private to GDPR, HIPAA and GDPR-compliant networks that allows only doctors
who have been verified with medical association. The company has also
established an the internal compliance as well as a pharma Co-Vigilance teams
to protect privacy and ensure security. It allows pharmaceutical and
medical device manufacturers to communicate with doctors, however, no ads are
permitted to be displayed on its platform.
An additional Docquity initiative is to make healthcare affordable. The
company recently announced the Patient Adherence Program (PAP) to assist
doctors in providing care to patients who aren’t being
served. “Making treatments more affordable is a key objective of the
platform and we have started working in breast cancer as a therapeutic area
with one of our clients, and have already served close to 600 breast cancer
patients in the Philippines,” said Roychowdhury.
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