Text/Hu Jinhua
2022 is the third year of the implementation of the " Healthy China 2030" strategy. The general public is paying more and more attention to medical health. At the same time, the COVID-19 epidemic continued to recur in the first half of the year, and people's daily lives and medical and health needs were affected and tested to varying degrees. In addition, the stress caused by work and the impact of the post-epidemic era have made personal health increasingly the focus of public attention.
html On August 18, Ping An Health Medical Technology Co., Ltd. (stock abbreviation "Ping An Good Doctor", 1833.HK, hereinafter referred to as "Ping An Health") announced its 2022 interim results report. Since the company entered the strategy 2.0 deepening period, it has steadily implemented the three major models of "managed medical care + family doctor membership system + O2O medical and health services", and its differentiated advantages have gradually emerged. During the reporting period, Ping An Health's total revenue reached 2.83 billion yuan, and its gross profit margin increased to 27.3%. Among them, the gross profit margin of medical services increased by 13.3 percentage points month-on-month. In the past 12 months, the number of paying users has grown rapidly to more than 40 million, the cumulative number of service companies has reached 749, and the cumulative consultation volume has exceeded 1.3 billion, maintaining its leading position in the industry.Ping An Health Chairman and CEO Fang Weihao said that in the face of the increasingly strong demand for professional medical and health services and changes in industry development trends, Ping An Health has upgraded the company's vision to "let every company have a happy workplace, and let everyone A family has its own doctor, Let every user have safety and health.” Under the guidance of the new vision, the company will continue to adhere to the value proposition of “saving worry, saving time, and saving money” and deeply develop “managed care + family doctor membership system + O2O medical health Service" business model to provide users with high-quality medical and health services and support the construction of "Healthy China 2030".
Professional medical and health solutions have become the "killer weapon"
As a pioneer in the domestic Internet medical and health market, it is also an important part of China's Ping An "Finance + Health" strategy. Ping An Health has been deeply involved in "managed care + family doctor membership" "Manufacturing + O2O medical and health services" business model.
The following example is the best proof.
At the beginning of this year, the father-in-law of Ms. Liu, a customer of Ping An Insurance , was diagnosed with suspected lung cancer. The whole family immediately panicked and wondered whether the old man should undergo surgery.
"The patient was diagnosed with pulmonary nodules. The local hospital suspected the possibility of cancer, but a puncture was needed to confirm it. The client was unsure, so he came to us for help, hoping to listen to expert advice. After receiving the urgent demand, we I immediately made an appointment with Zhang Jie, chief physician of thoracic surgery at Shanghai Chest Hospital. Xiaohe, a staff member of the famous health doctor team, said that Dr. Zhang Jie is one of the few thoracic surgeons in China who masters the "four scopes" of thoracoscopy, laparoscopy, esophagoscopy and bronchoscopy at the same time. He has extensive experience in the clinical diagnosis and treatment of malignant diseases, specializing in minimally invasive surgery and endoscopic surgical treatment. In the past year, Dr. Zhang Jie has treated more than 100 patients through the Ping An Health platform, 60% of whom have successfully received surgical treatment.
Following Dr. Zhang Jie’s advice, Ms. Liu’s family came to Shanghai. With the careful and attentive assistance of Ping An Health's attendant staff, Ms. Liu's father-in-law successfully completed various examinations and accepted an interview with Dr. Zhang Jie. Combined with further examination results, Dr. Zhang Jie was more certain that the patient should be operated on as soon as possible. As a result, the accompanying staff quickly assisted the patient's family to complete various hospitalization procedures and preoperative examinations, and the patient successfully underwent surgery by Dr. Zhang Jie, turning the crisis around. The case of
is just an ordinary example among the tens of millions of customers currently served by Ping An Health. However, the professional, meticulous and thoughtful services provided by the company to users have also allowed the market to see that it has accumulated 4,000 in its 2022 interim report data. The real reason for millions of paying users.
At the performance conference on August 18, Fang Weihao also explained in detail the path that Ping An Health has taken to continuously expand and improve the online + offline medical and health service network built by Ping An Group through various channels.
Fang Weihao pointed out that in the first half of 2022, the company will maintain strategic focus, adhere to the "3+1+3" business model, and implement the managed medical strategy. On the payment side,
focuses on comprehensive financial channels and corporate customer channels with high willingness to pay and large room for growth. In terms of services, using family doctor membership as a hub to help users effectively connect the breakpoints in online and offline services, improve the "online, store, and home" O2O closed-loop service, provide a continuous and complete service experience, and realize the full scene Service coverage.
It is worth mentioning that Fang Weihao also highlighted the four differentiated features of Ping An Health, which are also what distinguish it from other Internet medical and health companies:
First, online + offline end-to-end integration: the company does not rely on pure Internet customer acquisition operation is to provide online + offline end-to-end closed-loop services for high-quality users who are willing to pay;
secondly is a one-stop platform for medical + health: the company is not limited to medical service scenarios, but builds a Station platform ecology, Integrate supplier resources and provide cost-effective comprehensive medical and health solutions;
Third, it is a convenient bridge between doctors and patients: the company does not rely on pharmaceutical e-commerce revenue, but promotes a family doctor membership system to connect consultations, prescriptions, and transfers in series full-process services such as diagnosis, follow-up monitoring and health consultation ;
The fourth is the synergy of the company + Ping An Group: the company is not limited to its own hematopoiesis, but collaborates with various channels of Ping An Group to strengthen business and product integration and continue to serve internal and external customers .
Long-term positive policies + comprehensive financial support Managed healthcare is developing
In recent years, the country has successively introduced a number of policies to regulate the Internet medical industry. The most recent one occurred in June this year. The National Health Commission and the State Administration of Traditional Chinese Medicine jointly issued the "Internet Diagnosis and Treatment Supervision Rules (Trial)" (hereinafter referred to as the "Details"), which proposed that when medical institutions carry out Internet diagnosis and treatment activities, prescriptions should be handled by the receiving party. It is strictly prohibited to use , artificial intelligence, , etc. to automatically generate prescriptions if they are issued by the clinician himself. It is strictly prohibited to provide medicines to patients before the prescription is issued. It is strictly prohibited to consolidate prescriptions for commercial purposes. The continuously improving policies have objectively had a certain impact on some business models of "supporting medicine with medicines", but they have also brought benefits to the long-term standardized development of the industry.
The number of paying users shown in Ping An Health's 2022 interim report has rapidly increased to more than 40 million. Fang Weihao also said in his interpretation that this is due to the company not limiting itself to acquiring customers on the Internet and not relying on pharmaceutical e-commerce revenue, but insisting on advancing Managed healthcare is a strategic focus and model innovation that focuses on providing medical and health solutions for enterprises. The healthy, mature and complete medical service capabilities of Ping An are an important pillar supporting all of this.
As a professional, comprehensive, high-quality, one-stop enterprise health management service provider, the company has created "Yiqi Health" 2+4 enterprise health management product system, including "physical examination +", "health management +" and other rich contents. Provide one-stop health management solutions for corporate employees on demand. After a central enterprise has been using Ping An Health's "Yiqi Health" employee health management service for a long time, it has effectively solved problems such as inconvenient medical treatment in the area where some employees live. Since the cooperation, the average number of consultations per person has reached 2.8 times.
At the same time, the synergistic effect of "comprehensive finance + medical health" has become increasingly prominent. Ping An Health continues to tap into the experience, technology, customer base and resource advantages of Ping An Group's managed care model to better achieve two-way collaboration with the financial business and create warm finance. Among them, Ping An Health comprehensively and specifically upgraded its one-stop medical and health service solution around the "RUN" service jointly launched with Ping An Life . After the upgrade, user service satisfaction exceeded 98%. In addition, the company has also launched a series of services such as consultation assistance from famous doctors for users of Ping An Bank and other comprehensive financial channels to help cooperative channels more effectively attract and retain customers. As of June 30, 2022, the company has served a total of 749 corporate customers. In the past 12 months, more than 2 million corporate employees and corporate customers have paid, and the number of financial paying users has exceeded 33 million.
Among them, Ping An Group helps it achieve customer empowerment, product empowerment and technology empowerment.In 2021, the group's health insurance business scale will reach 140 billion. Various channels have served 70 million corporate employees, and the group also has 223 million personal financial users; these businesses are strongly related to the customer base and Ping An Health's medical and health services. The close cooperation between the group and us can help achieve simultaneous growth in the number of customers, customer stickiness, and customer recognition for both parties.
"While Ping An Health is deeply integrated with the group's medical ecosystem, it can also obtain a lot of powerful supporting resources. For example, Ping An Health can obtain a broad source of users from the group's 223 million personal financial customers. For example, Ping An Health has While the new overall strategy is moving in the direction of corporate health management services, we can gain support from Ping An Group's enterprise customer pool resources of more than 2 million." When talking about the group's blessing effect on Ping An Health, Fang Weihao also said. It was stated at the press conference.
Fang Weihao further said that Ping An Health can also receive deeper support from insurance payers from Ping An Group. The company and the group's integration of product , product cross-selling, and product customization have become more and more in-depth year by year. The company has been leading the market in the combination of insurance + health products. On the other hand, from the perspective of Ping An, Ping An Health has also effectively helped Ping An Group's customers, playing a vital role in acquiring new customers and retaining old customers.
It is obvious from the data that the retention rate, number of contracts per customer, and amount of deposits of financial customers who have used Ping An Health's medical and health services will be much higher than those of customers who have not used Ping An Health's health services. From this perspective Generally speaking, Ping An Health is also getting better at supporting the overall financial customers of Ping An Group.
Build a team of 49,000 internal and external doctors to cover all disciplines
In Ping An Health’s mid-term report, it was pointed out that professional medical capabilities are the foundation of Ping An Health and are also the foundation for increasing users’ willingness to pay. This sentence also directly expresses the core point of the company's continuous expansion since its establishment to the present. According to
data, the company is committed to building a medical and health service ecosystem with family doctors as the core and specialist doctors as the support. In the first half of the year, the average number of consultations initiated by family doctor services reached 14.5 times. While continuously optimizing membership products, the company has two-way improved the diagnosis, treatment and service connection capabilities of the family doctor team, empowering corporate employees' health management. As of June 30, 2022, the platform has accumulated nearly 49,000 internal and external doctor teams, fitness coaches , nutritionists and psychological counselors from 20 departments, which can fully cover users' medical and health needs. The five-star praise rate from patients is stable at over 98%.
Famous doctor services are a highlight of Ping An Health’s medical service capabilities. As of June 30, Ping An Health has signed contracts with more than 1,500 famous medical experts, including Liao Wanqing, an academician of the Chinese Academy of Engineering, and Li Diangui, a master of traditional Chinese medicine.
Different from the pure O2O model of some Internet medical companies, Ping An Health will activate a professional medical team to analyze and consult on the condition after receiving users’ requests for services from famous doctors and experts, and then match users with suitable experts for consultation based on the analysis results. , providing users with refined management of the entire disease process and one-stop medical and health services. During the reporting period, the gross profit margin of Ping An Health's medical services increased by 13.3 percentage points month-on-month, and the proportion of medical services revenue increased to 40%.
It is worth noting that Ping An Health has received a total of 1.3 billion user inquiries so far. In response to various high-frequency needs and user pain points, Ping An Health has cooperated with large-scale tertiary hospitals and high-quality experts since this year. As of June 30 this year, it has successively launched cervical health centers, myopia prevention and control centers, and children's health centers. Seven specialized disease centers, including the Growth Center and Hair Health Center, plan to complete the construction of nearly 30 specialized disease centers within the year, covering multiple fields such as gynecology, pediatrics, dermatology, internal medicine, surgery, andrology, traditional Chinese medicine, and chronic disease management. These specialized disease centers not only provide users with refined management of the entire disease process and one-stop medical and health services, but also promote the continuous improvement of Ping An Health's own medical capabilities through joint treatment and research on a large number of precise cases.
In addition, Ping An Health continues to strengthen the training and management of medical teams, conducts training on relevant regulations, management systems, and professional knowledge. It organizes more than a thousand training sessions throughout the year, covering all medical staff, and actively explores opportunities for external exchanges and further training for doctors. .
Targeting enterprises that mainly focus on C-end business, Ping An Health has established four functions including rights customization, product integration, joint membership and gift redemption based on the four needs of enterprises: retaining old customers, attracting new customers, expanding scale, and doing marketing. This model provides health management, assists enterprises in customer operations, and improves the enterprise's user satisfaction and market influence.
The full-link quality control system gives customers more peace of mind
In the process of continuously improving the online and offline network system, Ping An Health has created 750 services, covering five major scenarios: health management, sub-health management, disease management, chronic disease management, and elderly care management. As of June 30, 2022, Ping An Health has more than 3,000 partner hospitals, nearly 85% of which are tertiary hospitals; there are 208,000 partner pharmacies, with a nationwide coverage of over 35%, and one-hour drug delivery in more than 150 cities. 7*24-hour drug delivery services have been launched in 80 cities; it has cooperated with more than 100,000 health service providers. During the reporting period, the company's three-service network revenue share of "online, store, and home" increased to 63%.
While linking multiple categories of medical and health resources, Ping An Health has established a full-link supplier management and quality control system covering entry to exit to achieve efficient and accurate matching according to user needs and better provide them with online coverage. Continuous and full-cycle medical and health services are provided inside and outside the hospital, before and during diagnosis, during and after diagnosis.
During the period, Ping An Health attached great importance to corporate sustainable development and actively fulfilled its social responsibilities. The company continues to play its role as a professional bridge between doctors and patients, empowers primary care and digital society construction to help rural revitalization, and actively promotes medical science popularization and professional diagnosis and treatment. During the recurring epidemic, epidemic diagnosis channels and anti-epidemic care areas were quickly launched to provide residents with free online consultation and professional online psychological consultation and other public welfare services.
Looking forward to the second half of the year, Ping An Health Chairman and CEO Fang Weihao said that the company will continue to gain in-depth insights into the demands of enterprise and individual users, carefully polish products and improve services, and collaboratively build a China that meets China's needs and has Ping An characteristics. version of the “managed care model.” In the future, all Ping An Health people will adhere to the value proposition of "saving worry, time and money" to "let every company have a happy workplace, every family have a dedicated doctor, and every user have Ping An and health." In line with our vision, we will continue to provide high-quality medical and health services to the society and contribute to the advancement of Digital China and Healthy China strategies.
Editor: Shi Yan
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