TIVP057: DOXIMITY (DOCS): A PROFITABLE SOCIAL MEDIA PLATFORM FOR DOCTORS

W/ SHAWN O’MALLEY & DANIEL MAHNCKE

TIVP057: DOXIMITY (DOCS): A PROFITABLE SOCIAL MEDIA PLATFORM FOR DOCTORS W/ SHAWN O’MALLEY & DANIEL MAHNCKE

01 February 2026

Shawn O’Malley and Daniel Mahncke break down Doximity (ticker: DOCS), known as “the LinkedIn for doctors,” with a suite of productivity apps supporting physicians’ workflows, too. Incredibly, 80% of physicians in the U.S. are on Doximity, giving them fertile real estate to monetize those eyeballs with high-margin advertising opportunities for pharma companies.

In this episode, you’ll learn about how to value Doximity’s unique social media business that uses subscription-based advertising to drive revenues, how Doximity is positioned to benefit from the increasing digitalization of doctors’ workflows and pharma marketing, what makes specialized social networks so valuable, how management is incorporating AI into making Doximity’s ecosystem stickier, and whether Doximity’s stock is attractively priced at current levels, plus so much more!

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IN THIS EPISODE, YOU’LL LEARN:

  • Why Doximty is so uniquely positioned to capitalize on pharmaceutical marketing
  • What makes Doximity’s ecosystem so useful for physicians at all stages of their career
  • How much of the U.S. health care system is still plagued by bureaucratic admin work, and the opportunity that creates for Doximity
  • How the company protects doctors’ privacy and saves them hours a week doing admin tasks with HIPAA-compliant generative AI tools.
  • How Doxmity uses productivity tools to complement its social networking service
  • The risks and moats of having a business so concentrated on one industry
  • Why Doximity uses subscription-based advertising options 
  • How to think about modeling DOCS’ intrinsic value
  • Whether Shawn and Daniel add DOCS to their Intrinsic Value Portfolio
  • And much, much more!

Disclosure: This episode and the resources on this page are for informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. For full disclosures, see link.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Daniel Mahncke: 80% of doctors in the US all in one platform. Some call it the LinkedIn for doctors, but Doximity has much more to offer than just that.

[00:00:09] Shawn O’Malley: With Docs GPT, the company is materially cutting down on the admin work doctors have to do, which can count for as much as half their working days. Doximity is the networking and productivity solution for physicians.

[00:00:22] Daniel Mahncke: And despite all that fertile advertising ground for pharmaceutical businesses wanting to reach prescribing physicians, this is still a sub $10 billion market cap business.

[00:00:37] Intro: You are listening to The Intrinsic Value Podcast by The Investor’s Podcast Network since 2014 with over 180 million downloads. We’ve learned directly from the world to best investors. Now we are applying those lessons to analyze businesses and investment opportunities every week, helping you uncover intrinsic value. And now here are your hosts, Shawn O’Malley and Daniel Mahncke.

[00:01:09] Daniel Mahncke: Somehow, we made it through our first year of covering companies on this show every single week without looking at any businesses that are solely dedicated to the healthcare world. That’s probably a learned response from having the healthcare system in the US at least make my head spin as an outside observer.

[00:01:25] Daniel Mahncke: And honestly, it’ll be the same in Germany. So rather than looking at a developer of pharmaceuticals or provider of healthcare insurance, which we find to be just very difficult areas to understand and invest in. The pitch for today is really a tech platform company that caters to healthcare professionals.

[00:01:42] Daniel Mahncke: That company is Doximity, and in reality, it’s more like a scalable software business with sticky network effects and a suite of productivity products that are revamping how efficiently medical professionals can do their work. Because, well, let’s be honest, healthcare is one of the last bastions of bureaucracy and paperwork that hasn’t entirely been digitalized yet, especially on the backend.

[00:02:05] Daniel Mahncke: And yes, maybe you have an app for your appointments and to message your doctor. You would probably be surprised to learn just how inefficient the communication systems behind the scenes can actually be. Much of the medical world still runs on faxes, which surprised me, at least for the us. I mean, in Germany, it has become a running joke that half of our country is still running on faxes, but 70% of US healthcare documents are still sent via snail mail and fax.

[00:02:31] Daniel Mahncke: In fact, 78% of physicians have reported burnout due specifically to dealing with healthcare IT systems. Physicians spend nearly half their working day on average doing admin tasks, and that’s where Doximity’s AI comes into play. Doximity promises that it is able to save physicians as much as 13 hours a week on time spent dealing with bureaucracy.

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