WebMD Health Corp. (NASDAQ:WBMD) Q1 2017 Earnings Conference Call - Final Transcript
May 02, 2017 • 04:45 pm ET
dealing with diseases, such as diabetes, obesity and other hormonal disorders. Through this partnership, Endocrine Society experts will work with Medscape editors to produce evidence-based original content for endocrinologists, primary care physicians and all others who care for patients affected by these disorders, which will assist them in providing the best care possible for their patients. Endocrine Society experts will also share and discuss compelling case studies on Medscape Consult, our leading online community where physicians from around the world ask and answer questions about challenging patient care issues encountered in their clinical practice.
Last month, Medscape published the results of its seventh annual physician compensation report, which remains the most comprehensive and widely used report of its kind, having been read by more than 400,000 U.S. physicians who rely on Medscape for unique insights they simply can't get anywhere else. Our latest report reveals an increase in job satisfaction, as well as the fact that male physicians continue to be compensated more highly than their female counterparts. The findings also highlight the extent which race and geography impact both pay and overall satisfaction. This year's report generated a great deal of interest and media coverage in a wide range of media outlets, including Bloomberg, Fast Company, Fortune, NBC News and USA TODAY.
Building on the virtual patient simulation work that we've done to mirror what physicians encounter in actual clinical practice, we are currently testing the use of virtual reality to enhance the effectiveness of medical education programs. Earlier this year, we showcased an early prototype of these efforts, a simulated encounter targeted at improving the quality of care between a physician and a patient suffering from rheumatoid arthritis during the international meeting on simulation and health care and then again in March, at a conference in Barcelona.
According to a 2016 study, a majority of U.S. physicians have expressed interest in using virtual reality for both medical training and CME in order to learn about new treatment options and conditions. In light of our deep experience in creating clinical case-based programs and the growing interest in VR, we plan to make the investments necessary to be the leader in this emerging space. Medscape's leadership extends outside the U.S. as well, where we are the leading source of medical information and continuing education with approximately 1.7 million active physicians annually. And we're investing to further expand our international presence to capture a greater share of the promotional budgets available outside the U.S.
According to Manhattan Research, Medscape is #1 in the top 5 EU, Latin America, India and Australia. And with our partner DXY, we have access to the largest physician audience in China. In addition to English, we have French, German, Spanish and Portuguese language editions of Medscape, and we have also created commercial programs for our customers in more than a dozen additional languages.
WebMD, which accounts for approximately 40% of advertising revenue, continues to be the leading digital destination for consumers interested in health and well-being