<PAGE>   1
                                                                    EXHIBIT 10.7


                                MEDIBUY.COM, INC.

                            NONSTATUTORY STOCK OPTION

                (1999 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN)

____________  [Name], Optionee:

         MEDIBUY.COM, INC. (the "Company"), pursuant to its 1999 Non-Employee
Directors' Stock Option Plan (the "Plan") has on ___________, 1999 granted to
you, the optionee named above, an option to purchase shares of the common stock
of the Company ("Common Stock"). This option is not intended to qualify and will
not be treated as an "incentive stock option" within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended (the "Code").

         The grant hereunder is in connection with and in furtherance of the
Company's compensatory benefit plan for participation of the Company's
Non-Employee Directors (as defined in the Plan).

         The details of your option are as follows:

         1. The TOTAL number of shares of Common Stock subject to this option is
__________ (______). Subject to the limitations contained herein, this option
shall be exercisable in accordance with the Plan.

         2. The exercise price of this option is _________ ($____) per share,
being the Fair Market Value (as defined in the Plan) of the Common Stock on the
date of grant of this option.

         3.       (a) This option may be exercised, to the extent specified in
the Plan,  by  delivering  a notice of  exercise  (in a form  designated  by the
Company) together with the exercise price to the Secretary of the Company, or to
such other person as the Company may designate,  during regular  business hours,
together with such additional documents as the Company may then require pursuant
to paragraph 6 of the Plan.  This option may not be exercised  for any number of
shares which would require the issuance of anything other than whole shares.

                  (b) By exercising this option you agree that the Company may
require you to enter an arrangement providing for the cash payment by you to the
Company of any tax withholding obligation of the Company arising by reason of
the exercise of this option or the lapse of any substantial risk of forfeiture
to which the shares are subject at the time of exercise.

         4. Any notices provided for in this option or the Plan shall be given
in writing and shall be deemed effectively given upon receipt or, in the case of
notices delivered by the Company to you, five (5) days after deposit in the
United States mail, postage prepaid, addressed



                                       1.
<PAGE>   2

to you at the address  specified below or at such other address as you hereafter
designate by written notice to the Company.

         5. This option is subject to all the PROVISIONS of the Plan, a copy of
which is attached hereto and its provisions are hereby made a part of this
option, including without limitation the provisions of paragraph 6 of the Plan
relating to option provisions, and is further subject to all interpretations,
amendments, rules and regulations which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the
provisions of this option and those of the Plan, the provisions of the Plan
shall control.

         Dated the _______ day of ________, 1999.


                                        Very truly yours,

                                        MEDIBUY.COM, INC.


                                        By:
                                            ------------------------------------
                                                 Duly authorized on behalf
                                                 of the Board of Directors

ATTACHMENTS:

1999 Non-Employee Directors' Stock Option Plan





                                       2.
<PAGE>   3



The undersigned:

                  (a) Acknowledges receipt of the foregoing option and the
attachments referenced therein and understands that all rights and liabilities
with respect to this option are set forth in the option and the Plan;

                  (b) Acknowledges that as of the date of grant of this option,
it sets forth the entire understanding between the undersigned optionee and the
Company and its affiliates regarding the acquisition of stock in the Company and
supersedes all prior oral and written agreements on that subject with the
exception of (i) the options previously granted and delivered to the undersigned
under stock options plans of the Company, and (ii) the following agreements
only:

                  NONE
                       ------------------------------------------
                                       (Initial)

                  OTHER
                       ------------------------------------------

                       ------------------------------------------

                       ------------------------------------------


                                        ----------------------------------------
                                        OPTIONEE

                                        ----------------------------------------
                                        Address

                                        ----------------------------------------

                                        ----------------------------------------




                                       3.