Medical Internet Marketing Business Plan

DocBuzz, Inc. is a medical marketing company specializing in pharmaceutical, biotechnical and medical device detailing for the benefit of the medical community. DocBuzz, Inc. is the only company of its kind; a business especially designed for doctors and the medical community, owned and operated by practicing physicians.

The pharmaceutical market is one of the most profitable industries, with revenue in excess of $96.3 billion annually. The problem that the pharmaceutical industry has is simply time. Time for research and development, time for branding, time for marketing and sales, time to gain the trust and acceptance of the medical community. In this industry, we can equate time with money.

Two additional industries have similar situations with their products. Those industries are the biotech and the medical device companies. While the revenues are not as great as what one will find within the pharmaceutical industry, these companies face heavy competition within their own individual industries.

DocBuzz, Inc., has developed a method that allows all of these industries to benefit from prelaunch marketing, product branding, and postlaunch sales support–all accomplished with the direct intervention of practicing physicians. DocBuzz, Inc., gives the client companies the opportunity to market directly to the decision makers, establishing immediate credibility through our extensive network of physicians and other medical professionals. Providing live conferences, 24 hours a day, seven days a week, access to a myriad of current information on various pharmaceutical products, new biotech developments and medical devices, medical chat rooms, and online marketing make our e-detailing the most cost effective of any service offered.

The pharmaceutical, biotech and medical device industries will contract with DocBuzz, Inc., to provide marketing services, and because we are practicing physicians, we have immediate access to our colleagues. We can deliver these companies’ message directly to the decision makers for 75% of what these industries are currently budgeting. In addition, DocBuzz, Inc., by virtue of its unique incentive program will allow additional revenue to participating physicians and other medical practitioners.

DocBuzz has developed a winning strategy to provide the best and most up to date information to the medical community, while providing a method for these industries to announce, promote and market their products through respected practicing physicians. The individual professionals within the medical community benefit by receiving the most up to date industry information, all received via the Internet, and at the end of the e-detailing they will have the option to request samples, additional information on the product and/or the visit from a pharmaceutical company representative. Professionals on our medical panel can earn points by participating in our e-detailing and/or by referral of others who join our program.

1.1 Keys to Success

DocBuzz, Inc., has identified four key strategies that we feel are essential for success:

1. Improve access of the prescribing doctor to the pharmaceuticals via newly developed Internet technology, to accelerate market acceptance of a product and to increase its prescribing pattern.
2. DocBuzz, Inc., uses a grass root approach to recruit and retain participating prescribing medical professionals through a value incentive referral point program (VIRP). DocBuzz, Inc., as a physician owned and operated company, understands physician’s needs and offers, in addition to our unique VIRP system, other value added programs such as CME, physician cyber meeting places and other extensive point redemption options.
3. DocBuzz, Inc. can provide evidence-based analysis for the pharmaceutical industry in order to justify the pharmaceutical investment in e-detailing.
4. DocBuzz, Inc., anticipates aggressive, but controlled growth, in order to maintain the quality of our service.

1.2 Mission

DocBuzz, Inc., offers pharmaceutical, biotechnical and medical device manufacturers a reliable, high quality alternative to in-house resources for sales and marketing. DocBuzz, Inc., improves the return on sales and marketing investment by accelerating the physician learning curve on prelaunch, new, and existing products–through Web access to educational detailing and marketing research. In addition, DocBuzz, Inc., will benefit small and innovative biotechnology and pharmaceutical companies that do not have an extensive sales force to cover North America.

1.3 Objectives

• To establish ourselves as a premier pharmaceutical e-detailing company, targeting medical professionals–i.e. physicians, nurse practitioners, physician assistants, dentists, and podiatrists.
• We will offer value added services such as CME, current medical information updates, and physician meeting facilities (chat room and bulletin board).
• To hire staff both currently identified and unidentified to implement our business concept.
• To sign up 5% of the more than 650K prescribing medical professionals by year three, and provide 300K pharmaceutical detailing per year, by year three.
• To reach a break-even point of $35,936 by the end of year two.