Welcome to Insider Healthcare. I’m Blake Dodge, and I cover Big Tech and digital health. Here’s today’s news:
- Why Doximity ignored VC money for years;
- Analysts say these 9 companies could revive the psychiatric drugs business;
- Democrats just unveiled a $400 billion home care bill.
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Doximity ignored VC money for 7 years and now is a $9.6 billion public company. The CEO explains why customers are better than term sheets.
- Doximity just went public, surging to a more than $9 billion valuation after its Thursday IPO.
- Jeff Tangney, CEO of the already-profitable social network for docs, hasn’t raised new money since 2014.
- Tangney stayed focus on the nuts and bolts of the business instead, leaving millions in cash untouched
- Psychiatric drugs used to be huge revenue drivers the drug industry, but the field has stalled.
- Now companies are taking a fresh approach to conditions like depression and dementia.
- We spoke to analysts to find this new wave of research’s nine biggest drivers.
Democrats just unveiled a $400 billion caregiving bill that would supercharge home care and boost pay for workers as 820,000 people wait for help
- Hundreds of thousands of Americans are on waiting lists for home care.
- Democrats are trying to attach funds that could help to Biden’s infrastructure plan.
- But the provision is running into hurdles in Congress.
More stories we’re reading today:
- Dozens of cows escaped a slaughterhouse in California (Insider)
- Nearly all Covid deaths are now among the unvaccinated (Associated Press)
- How Amazon misleads reporters (Mother Jones)
- A map shows how many people had undiagnosed COVID-19 in the first 6 months of the pandemic, across 7 regions of the US (Insider)