A call between doctors can save lives. That’s what Docquity co-founder Indranil Roychowdhury learned about it when his father was hospitalized with a life-threatening illness in India. An ER doctor first told him there was no chance of survival, but then another doctor called one of his peers in the US, and they came up with an alternative treatment plan that has worked. Docquity was created to help doctors collaborate in the same way, at scale, even if they live in different countries.
The Singapore-based company announced today that it has raised $44 million in Series C funding led by returning investors Itochu Corporation, who invested $32 million. The rest of the round came from investors such as iGlobe Partners, Alkemi, Global Brain, KDV and Infocom.
Roychowdhury told TechCrunch that after his father’s experience, he and his co-founders, Amit Vithal and Abhisek Wadhwa, wondered why “in these days of social media, it takes a phone call to save the day. someone’s life.” Docquity was founded in 2015 to make it easier for doctors and other healthcare professionals to work with each other.
The new capital brings Docquity’s total raised to $57.5 million. It is the largest community of medical professionals in Southeast Asia, with over 350,000 doctors on board. The funding will be used to expand Docquity in its existing markets, such as Indonesia and the Philippines, and enter new ones, including Japan, the United Arab Emirates, Saudi Arabia and Egypt. It was recently launched in Taiwan, where more than 2,000 doctors have registered so far. The company claimed revenue growth to double in 2021.
The company now has a team of 300 people, and in addition to its headquarters in Singapore, it also has a technology and engineering center in Gurgoan, India, and other offices in Indonesia, the Philippines, Malaysia, Thailand, Vietnam and Taiwan.
In addition to giving physicians tools to connect and collaborate, Docquity has partnered with over 250 medical associations in Southeast Asia to develop learning modules, which can be used to earn medical education credits. (CME) compulsory. The company says that so far, its platform has earned doctors a total of 4.2 million CME credits.
Docquity has three main features. The first, Docquity Academy, partners with universities and experienced physicians to create learning tools for physicians. The second, Docquity Clinic, allows doctors to have follow-up consultations with their patients. Finally, Docquity Insights takes data on user engagement on the platform to understand what they need.
Roychowdhury said on average about 50,000 doctors take courses on its platform each month, and it was one of the first companies to launch online conferences and symposia when the pandemic began in 2020. It now hosts around 500 conferences per month. Physicians taking the courses can also join private groups to discuss real cases and the best treatment plans.
“While exam-like teaching and education is key, we believe that experiential learning through peer-to-peer case discussions is a major source of learning for physicians,” Roychowdhury said.
Docquity ensures patient privacy through several measures. It is a closed, GDPR and HIPAA compliant network that only allows doctors verified by medical associations. It has also set up an internal pharmaceutical compliance and co-vigilance team to ensure confidentiality and security. It allows pharmaceutical and medical device companies to engage with doctors, but no advertising is allowed on the platform.
Another Docquity initiative is making health care more affordable. It recently launched its Patient Adherence Program (PAP) to help physicians bring care to underserved patients. “Making treatments more affordable is a key goal of the platform and we have started working on breast cancer as a therapeutic area with one of our clients, and have already served nearly 600 breast cancer patients. breast cancer in the Philippines,” Roychowdhury said.