Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor" or "Ping An Health", Stock Code: 1833.HK) was recommended to be selected for the “Harvard Business Review” 2023 Ram Charan Management Practice Award. With its managed care innovation practice cases, innovative model, professional services, and outstanding social influence, after multiple rounds of screening, the Company wins 2023 Ram Charan Management Practice Award – Outstanding Award, which is the highest honor for Chinese management practice.
Ping An Health has carried out Strategy 2.0 Continuum transformation since the end of 2021, innovatively proposed the business model of "managed care + family doctor memberships + O2O healthcare services", and further focusing on the integrated financial customers and the corporate clients with greater paying willingness and bigger growth potential. To provide users with the best cost-effective, full-lifecycle medical and health services and create a managed care model with Chinese characteristics.
Since Strategy 2.0 Continuum transformation was implemented for more than a year, Ping An Health is employing the business model of products collaboration, procurement of benefits and value-added services, and has consistently aided the integrated financial business in customer acquisition, stickiness, re-engagement and penetration of users. For instance, the Company has continued to enhance the “Zhen Xiang RUN (2023)” healthcare service plan in partnership with Ping An Life. This approach includes a “user-focused” tiered member operation system, providing a range of 18 healthcare services encompassing family doctors, healthcare management plans, health check-ups, and chronic disease prevention and control. Up to now, while achieving steady improvement, the product has also driven a significant increase in user stickiness and recognition. Within the past 12 months, the number of paying users originating from Ping An's integrated financial channels exceeded 38 million, constituting a penetration rate of approximately 16.6% among Ping An's nearly 229 million personal financial users.
In corporate health management domain, the Company underwent a revamp of its “Enterprise EZHealth” corporate employee health management product system. This transformation yielded a differentiated product and service matrix with a substantial competitive edge, catering to the diverse needs of various enterprises while comprehensively promoting workplace well-being. This was realized through two primary solutions: “Health Checkup +” and “Management +”. The Company sets benchmark in corporate health management domain, as of end of June 2023, the Company has served 1,198 corporate customers, marking an increase of 449 from the same period of the previous year. This encompassed 3.9 million enterprise employees and users, the contract renewal rate for the Company's existing large-scale enterprise customers approached 90%.
Growth of data proves that Ping An Health Strategy 2.0 Continuum has achieved remarkable results in its transformation. At the same time, Ping An Health is constantly strengthening the foundation in its capabilities of heartwarming medical and healthcare service. And is delivering comprehensive "online, in-store, and delivery to home/corporate" management along the entire service journey. As of 30 June 2023, Ping An Health had around 50,000 in-house doctors and contracted external doctors in 22 specialties; connected to a network encompassing nearly 4,000 hospitals, 226,000 pharmacies, nearly 103,000 health service institutions, and over 2,000 health checkup institutions.
In the future, Ping An Health will continue to deepen our Managed Care Strategy 2.0, continue to deeply fathom user needs, enhance its array of products and services, continue to exemplify a model example of China's managed care system, and provide the industry with more innovative ideas and differentiation to promote Healthy China initiative.
