Press Release: Introducing Physicians' Life Magazine
Thorofare, NJ (March 12, 2015)-A new magazine written by and for doctors will debut in June, reaching almost half-341,000 in total-of all practicing physicians nationwide. What you might expect to be filled with medical research, treatment protocols and health insurance policy talk, will instead be infused with travel features, gadget roundups, and-in the debut issue-a guide on how you can import a car back home while on your Germany vacation...and save tons of cash while doing so. The kicker? All articles are written or peer-reviewed by fellow physicians.
Introducing Physicians' Life, the first consumer title from medical publishing powerhouse SLACK Inc., which publishes 44 medical journals and over 300 books, and hosts hundreds of successful medical seminars and conferences annually. "We know doctors extremely well and we also know they spend long hours together, from medical school study sessions to partner meetings to late nights at the hospital. They also value their time away from the office, working hard so they're able to enjoy active lifestyles filled with high-end travel, cars and dining," said CEO Peter Slack. "Backed by layers of extensive research examining the viability of launching a lifestyle magazine for doctors, we are putting our publishing expertise to work to launch Physicians' Life this spring."
Here's what the research found:
- Doctors are affluent: Physicians are wealthier than the typical affluent consumer, with a median household income of $224,000. This is more than 50% higher than the $144,000 median household income reported for the overall affluent population. While 61.2% of physicians have household incomes of $200,000 or more, only 18.5% of the overall affluent population does. Physicians are primarily male (82.7%, index = 162).
- Doctors like magazines: Physicians spend an average of 88.7 minutes per week reading magazines for personal enjoyment. The median is 67.9 minutes. Preferred types of magazines are Travel (53.9%), News & Entertainment (48.2%) and Sports (46.4%). Ownership of e-readers and tablet computers is substantially higher among physicians than the general affluent population (79.4% vs. 57.4%, index = 138). Physicians' personal use averages 5.5 hours weekly; the median is 4.1 hours.
- Doctors like to travel: Physicians are more likely than the typical affluent adult to be planning travel to Europe (index= 198), the Caribbean (index = 213) and Hawaii (index = 187). More than half (58.5%) of physicians "usually or always" schedule extra time for personal travel when attending professional conferences.
- Doctors spend money on cars, electronics: Automotive expenditures rate highly as well: 31.2% plan to buy a new vehicle (index = 176) and 19.4% plan to by a hybrid (index = 353). Many electronics items are also on the shopping list: 35.8% plan to buy a tablet computer (index = 188) and 20.6% plan to buy a giant flat screen HDTV (index =161).
- Doctors invest: Physicians plan to invest, travel and purchase a variety goods and services at rates well above affluent norms. For example, 71.2% of physicians, in comparison with 27.1% of affluent adults, plan to invest in stocks, bonds or mutual funds in the coming year.
- Doctors stay active and fit: 87.3% of physicians say they have exercised regularly (at least twice a week) during the past year. They are far more likely than the typical affluent adult to exercise in the privacy of their own home (Index = 155). Walking (58.8%), jogging (39.7%) swimming (34.8%) and hiking (33.9%) are favored pursuits. 29.7% report engaging in five or more sports during the past year. Physicians select honesty (83.6%), education (78.5%), learning (70.6%), helpfulness (68.2%) and enjoying life (67.6%) as core personal values.
"Affluent and educated, doctors are an excellent audience for high-end brands," said Mr. Slack. "People also frequently seek their advice beyond medical needs-for travel suggestions, gadget tips and what cars to buy. It's a highly coveted market for advertisers."