Promoting the Healthy China 2030 Initiative is the unswerving direction of China's healthcare endeavors, while the integration of “medical care, medical insurance, medicine” is the key to the establishment of a comprehensive healthcare protection system. Ping An Healthcare and Technology Company Limited (“Ping An Good Doctor” or “Ping An Health”; Stock Code: 1833.HK), as China's leading Internet healthcare service platform, has been innovatively exploring the integration mode of “healthcare, medicine, insurance”, and the synergies of empowering the commercial insurance has been increasingly prominent through in-depth practice and steady development in recent years.
On 14 September, “Driven by Commercial Insurance, Moving Towards the New – Ping An Health “Healthcare + Medicine + Insurance “ Ecosystem Conference” was successfully held in Shanghai. Over 300 executives and experts from renowned global pharmaceutical companies, insurance companies, and leading pharmacies gathered to explore industry integration and share valuable insights on the new trend of integration and development.
Continuously exploring the ecological integration of “healthcare + medicine + insurance” to drive innovation in the field of medical and healthcare services
In 2021, Ping An Health, with online medical services as its core, launched an innovative and insurance-backed product “Yaozhenfu” based on four major products: service series, physical series, insurance series, and system and data. Through the innovative cooperation model of “healthcare + medicine + insurance” integration, the Company empowers pharmacies and pharmaceutical companies to solve the three major issues on medical treatment, drug purchase and payment. After 2 years of market cultivation, Ping An Health has gradually realized the “pharmacy + insurance” dual-wheel drive, which not only provides users with cost effective products, but also offers high-quality tools for pharmacies to accurately match with patients. As of the end of June 2023, Yaozhenfu product has covered 30,000+ pharmacies and served 575,000 end-users, driving sales of RMB717 million in 2022-2023 for the partner pharmacies.
Leveraging its core competitive advantages of rich payer resources, comprehensive supplier network, leading service system and strong Ping An ecological empowerment, Ping An Health has continued to help the Group's integrated financial business acquire and retain customers, as well as secondary conversion and penetration of users through its business model of “deep collaboration, procurement of benefits, and value-added services”. Citing the field of “insurance + healthcare” as an example, the Company continued to create “heartwarming insurance” by innovatively launching the “Ping An Health Critical Illness Management” product for members, establishing a one-stop, full-cycle closed-loop service that includes “condition analysis, expert diagnosis, assistance in seeking medical treatment, visiting care, and rehabilitation accompaniment”. Through the operation and cooperation with Huawei's smart wearable devices and health services, the Company conducts all-round, digitalized health management for users, and provides them with tailor-made health solutions and behavioral recommendations. In addition, the Company has built a complete “online + offline”, “in-hospital + out-of-hospital”, and “medical + healthcare” closed-loop management system to provide users with life journey solutions to address their medical and healthcare needs, allowing them to enjoy a “worry-free, time-saving and money-saving” medical treatment experience.
“Yaozhenfu Plus” establishes an innovative model for the industry and creates heartwarming professional services
The development of the national economy and the improvement of living standards have driven changes in residents' lifestyle concepts and consumption habits. People increasingly concern their health, shifting from disease-driven to health-driven. During the conference, Ping An Health officially announced the newly upgraded strategic product “Yaozhenfu Plus”. Taking medical services as the core, “Yaozhenfu Plus” leverages four major values of preference, focus, payment and service. In addition, “Yaozhenfu Plus” collaborates with well-known enterprises such as China Resources Sanjiu and Shanghai Pharmaceuticals to continuously develop a medical and healthcare ecosystem with the integration of “healthcare + medicine + insurance”, providing strong empowerment for pharmaceutical enterprises and drugstores. Person in charge introduced that, under the strategic background of “Healthy China”, the product creates a comprehensive “healthcare + medicine + insurance” integration of the medical and health ecosystem. Mutual benefits are realized through the connection and collaboration of medical and health resources, empowering medical institutions, pharmaceutical enterprises and insurance companies to provide users with heartwarming and differentiated products, as well as high-quality professional services, so that users can "visit good doctors, use good medicines, spend less and be healthier".
Fang Weihao, Chairman and CEO of Ping An Health, said that the Company will continue to explore more new models of user-centered services that focus on the full-lifecycle health management. In the meantime, Ping An Health will firmly focus on the “Healthy China” Initiative, actively engage in healthcare innovation, promote the digital transformation of the internet healthcare industry, and contribute to the construction of an intelligent healthcare system and the cause of national health.
As of June 30, 2023, Ping An Health has a network encompassing nearly 4,000 hospitals, 226,000 pharmacies, nearly 103,000 health service institutions, and over 2,000 health checkup institutions. Users can enjoy 24/7 online services with accurate linking and professional consultation within 60 seconds provided by “Ping An Family Doctor” 7*24-hour online service, as well as the efficient service of 1-hour drug delivery services in 249 cities.
