Derek Gross

Derek Gross asked about Doximity's market share in clinical reference, whether DoxGPT focuses on particular specialties or types of medicine (e.g., drug interaction, physical medicine, oncology), and what input sources Pathway can ingest, including the ability to review patient-specific records or cases.

Answer

CEO Jeff Tangney stated Doximity doesn't know its market share in clinical reference, acknowledging a long-standing leader. He emphasized Doximity's focus on accurate, peer-reviewed, physician-reviewed answers, particularly for drug-related questions, leveraging the integrated drug reference from Pathway. He noted the clinical reference space is new for Doximity but they plan to "lean in all the way," enabling natural language questions and peer-reviewed answers via mobile.

Derek Gross inquired about the composition of net new platform client additions, specifically the split between existing clients upgrading versus entirely new logos.

Answer

CEO Dan Burton responded that the pattern has remained consistent, with the large majority, approximately two-thirds, of net new platform clients originating from their existing client base. He highlighted that this demonstrates the strength and efficiency of the company's cross-sell motion. He also noted a recent pickup in momentum in early Q3 after a slowdown at the end of Q2.

Derek Grosse of Piper Sandler Companies asked about Claritev's market share and revenue model in the Independent Dispute Resolution (IDR) process. He also requested an update on the Lantern partnership, including whether it is live and what early returns have been observed.

Answer

CFO Doug Garis highlighted Claritev's strong performance in the IDR space, citing a CMS ranking as a top performer with a win rate over 22%, and noted that AI will be used to further automate processes. CEO Travis Dalton described the Lantern partnership as being in its 'very early' stages, with more details on revenue contribution to be provided in the future. Garis added that strategic partnerships are key to expanding market reach efficiently.

Derek Grosse from Piper Sandler asked about Claritev's role, market share, and revenue model in the Independent Dispute Resolution (IDR) process, and also requested an update on the Lantern partnership, including any early returns.

Answer

CFO Doug Garis highlighted Claritev's strong IDR performance, citing a CMS-ranked win rate above 22% and significant internal process improvements, though he deferred on specific market share and revenue model details. Regarding the Lantern partnership, CEO Travis Dalton and CFO Doug Garis explained that it is still in its early stages with minimal revenue contribution to date, emphasizing that the focus is on executing on a few critical partnerships to drive scalable growth.