Multiple waves of digitization have attempted to nudge the healthcare industry forward over the past decades. However, it still largely remains stuck in its old ways. Doximity (NYSE: DOCS), an evolving medical network, is approaching the modernization of healthcare in its own unique ways and showing early success. Here are three reasons why investing in Doximity can turn out to be highly lucrative for long-term investors.
Many refer to Doximity as the "LinkedIn for medical professionals." That comparison isn't entirely flawed -- 80% of the doctors, 50% of the nurse practitioners, and 50% of physician assistants in the U.S. are verified members of Doximity's app -- but it falls short of fully appreciating the savviness behind Doximity's business model.
Doximity founded itself on the premise that about 73% of healthcare spending is decided by the doctors , and creating an online forum for doctors would also entice pharmaceutical companies, medical device makers, and other healthcare companies as they look to market their offerings.
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1 Unique Business to Buy and Hold for the Next 3 Years