September 22-Ping An Insurance (Group) Co., Ltd. of China held an investor open day event in Shenzhen to fully disclose the medical ecosystem strategy and the world’s leading medical technology achievements for the first time.
Ping An Group Co-CEO Chen Xinying, Ping An Good Doctor Interim Chairman and CEO Fang Weihao, Ping An Smart City Co-General Manager and Ping An Smart Healthcare CEO Gao Mengxuan, and Ping An Group Chief Medical Scientist Xie Guotong attended this open day event. And make theme reports respectively.
Chen Xinying introduced on the Open Day that Ping An’s main reasons for building a medical ecosystem are based on three considerations. First, the medical and health market is huge. The size of the market is expected to increase from RMB 6 trillion to RMB 16 trillion from 2019 to 2030. There is significant demand from all parties and it is in a favorable policy and regulatory environment. Secondly, the Ping An medical ecosystem has huge strategic synergies. Through the ecosystem, it can provide a full range of medical services for all links and objects, leverage ecological resources, establish technological barriers, and bring a strong enabling effect to the main business of finance and insurance, providing temperature, multiple scenarios, and differentiated services Life insurance products.
In addition, Ping An is already a leading medical and health company in China and has formed a differentiated advantage. The company has a strong traffic portal, a comprehensive online and offline service network, and the world’s leading medical technology.
In the future, Ping An will strive to build a closed-loop medical ecosystem from five aspects: government, users, service providers, payers, and technology, seize the huge development opportunities in the medical and health market, and create a new engine for the company’s future value growth.
Specifically, the Ping An Medical Ecosystem will focus on three major directions: First, open up horizontally, grab user traffic from the user side, manage institutions from the payment side, and empower service providers to maximize value; second, vertical To get through, through serving the government, leveraging the core resources of hospitals, doctors, and medicine, and with the help of technology, empowering ecosystem members, and establishing barriers to competition; third, with Ping An Finance’s main business in acquiring customers, enhancing customer stickiness, and increasing customer base Synergistic value is generated in terms of value.
Ping An spends 1% of its operating income on research and development of innovative technologies each year, and a large part of it is invested in the medical ecosystem. At present, Ping An has the largest Internet medical traffic portal, a leading offline medical service provider network, and has accumulated leading medical technology. Ping An Medical Technology Research Institute has created one of the world’s largest medical databases. The number of medical technology patent applications ranks second in the world. It has won first place in 6 international medical imaging competitions. It covers more than 30,000 diseases and has more than 1 billion, medical technology calls over 300 million times.
As an important member of the Ping An Medical ecosystem, Ping An Good Doctor has become China’s leading Internet medical service platform. Since mid-2020, Ping An Good Doctor has focused on comprehensive strategic upgrades in the three directions of channels, services, and capabilities, focusing on online medical care, and continuously opening up offline services. On the Open Day, Ping An Good Doctor launched a new service brand “Ping An Doctor”. With the mission of building a professional doctor-patient communication bridge, Ping An Good Doctor is committed to building China’s largest Internet medical service platform with the most advanced model and the strongest competitive barriers. In the future, efforts will be made to improve the existing doctor system and launch innovative products.
Ping An Good Doctor serves 346 million users, has over 1,800 medical staff in the company, and has gathered nearly 10,000 experts across the country. It has established the largest offline service network, including 110,000 cooperative pharmacies, 49,000 cooperative clinics, and more than 2,000 Home medical examination center. In the first half of 2020, Ping An Good Doctor’s operating income increased by 21% year-on-year to 2.75 billion yuan, of which online medical revenue increased by 107% to 695 million yuan.
Ping An Smart Medical focuses on the four core areas of the medical system to promote the high-speed operation of China’s medical system, namely “management institutions”, empowering the management of the Health Commission; “managing doctors”, helping hospitals comprehensively improve operations, and intelligently assisting doctors in diagnosis and treatment; “Controlling diseases” empowers the public health system to respond to epidemic emergencies, and empowers chronic disease management to improve the quality of health of the whole people; “controls drugs” helps drug research and management. The report shows that through Ping An’s smart medical product services, the time-consuming image diagnosis has been reduced from 15 minutes to less than 15 seconds. At present, Ping An Smart Healthcare has been applied in about 90 cities across the country, and has expanded in overseas markets, covering about 20,000 medical institutions, serving 450,000 doctors, and it is still being consolidated and expanded.
The growing medical ecosystem has achieved remarkable results in empowering Ping An Finance’s main business. This open day disclosed for the first time that 15% to 20% of Ping An’s new financial customers each year come from the medical ecosystem. The average number of financial customer contracts that use the medical ecosystem services is 3.1 (2.0 for non-use). The AUM of financial customers served by the ecosystem is about 10,000 yuan (5,600 yuan for unused ones). In the future, the synergy between the medical ecosystem and the main financial industry will be further reflected in many aspects such as products, traffic, services, technology, and costs.
Chen Xinying said, “The medical ecosystem is one of the core of Ping An Group’s long-term strategy. After more than 20 years of hard work in the medical and health field, Ping An has become a leading medical and health company in China. We hope to build a strong technology by building a closed loop of medical ecological services. Barriers, committed to actively helping the construction of a healthy China, improving people’s health, seizing market development opportunities, and creating greater value.”
Comprehensive layout: With rich experience and strong scientific and technological strength, the layout covers the entire ecology
At present, the process of population aging in our country is accelerating, and the pain points of various parties in the medical ecology are still highlighted. With the rise of “Healthy China 2030” as a national strategy, Ping An has accelerated its investment in the medical and health field, and has recently upgraded its medical ecosystem strategy.
The strategy of Ping An’s new medical ecosystem will firmly grasp the five major hands of government (Government), users (Patient), service providers (Provider), payers (Payer), and technology (Technology). Among them, the government end of Ping An Smart Medical Service, Ping An Good Doctor occupying users and online medical service end, Ping An Smart Medical occupying the offline medical service end, Ping An Life, Ping An Annuity, Ping An Medical Technology, and Ping An Health Insurance service payment end. Ping An Medical Technology Research Institute and others provide technical research support. The Ping An medical ecosystem includes a number of online + offline medical and health-related companies, and their businesses are effectively complementary.
Since 1996, Ping An has been working in the medical and health field for more than 20 years. Medical and health care has always been one of the core industries that Ping An focuses on. The company has accumulated rich experience in the development process, especially strong scientific and technological strength. Among them, Ping An has the world’s second largest number of medical technology patents and has one of the world’s largest medical databases. In addition, it uses the world’s top artificial intelligence technology to continuously improve medical quality and efficiency.
Chen Xinying, Co-CEO of Ping An Group, said, “In the past, the Ping An Medical segment was under the top-level design of the group to “divide forces” breakthroughs, and each subsidiary performed its own duties. Now, after the unified deployment of the group, the medical ecosystem strategy has been upgraded. Moving towards’integration and closed-loop’, in the future, each member will have a clear role, go hand in hand, coordinate with each other, and jointly promote the construction of the ecosystem.”
Horizontal connection: Build a bridge between professional doctors and patients, Ping An Good Doctor releases a new service brand “Ping An Doctor”
Starting from mid-2020, Ping An Good Doctor will focus on comprehensive strategic upgrades in the three directions of channels, services, and capabilities. It will gather patients through four major channels including individual users, insurance services, corporate services, and Internet hospitals, and provide “medical + health”. As well as “private doctor + family doctor” medical and health services, we will continue to strengthen and expand the self-built + external doctor network, focus on online medical care, and continue to open up offline services.
Ping An Good Doctor has become an important member of the user (Patient) and service provider (Provider) in the strategy of Ping An Medical Ecosystem. Ping An Good Doctor can provide 346 million users with diagnosis and treatment of over 3000 common diseases, with an average daily consultation volume of 830,000. At the same time, Ping An Good Doctor has the largest self-built doctor service group in China and has also established a huge offline service network. In addition to serving individual users, on the B side, Ping An Good Doctor has created a professional, convenient and secure corporate infirmary for corporate users, covering more than 500 companies; on the H side, Ping An Good Doctor has launched 14 Internet hospitals , 3 companies have opened up medical insurance.
To cope with the strategic upgrade, Ping An Good Doctor launched a new service brand “Ping An Good Doctor” at the Open Day event. Fang Weihao, interim chairman and CEO of Ping An Good Doctor, said that “Ping An Good Doctor” means a doctor’s home, a private doctor, and a family doctor. She is the company to consolidate its leading position in the industry, lead industry product upgrades and trends, and accelerate business depth The inevitable choice for development.
Fang Weihao introduced that “Ping An Medical Home” will be upgraded on the basis of the original innovative product “Private Doctor” in the future, mainly involving four aspects: private doctors will launch a multi-tier membership system for health butler services for individuals and families; comprehensively upgrade the doctor’s workbench , Empowering the five major needs of doctors for academics, income, brand, ability, and efficiency, combining the four-tier doctor system of AI doctor assistants, resident doctors, external contracted experts, and leading doctors, to create the world’s largest doctor ecology and use technology to better Assist doctors in their work; upgrade the team of doctors and continuously introduce external famous doctors. With the new audio and video consultation functions, it integrates online and offline resources to help doctors accurately match patients and improve doctor management efficiency. Ping An Medical will also upgrade insurance coverage simultaneously, improve the level of online medical protection, and solve the problem of both doctors and patients. Worries.
Fang Weihao said that “Ping An Doctor” embodies the company’s mission to build a professional doctor-patient communication bridge, with trust, professionalism, and convenience as the goal, to build China’s largest Internet medical platform with the most advanced model and the strongest barriers to competition.
Vertical connection: Smart healthcare empowers the government and promotes the rapid operation of China’s healthcare system
Ping An Smart Healthcare aims to provide end-to-end solutions for regulatory agencies and the medical ecosystem, relying on the “four-wheel” drive to empower the government, open up services vertically, and promote the high-speed operation of China’s medical system.
Gao Mengxuan, co-general manager of Ping An Smart City and CEO of Ping An Smart Healthcare, introduced that the “four rounds” are managing institutions, doctors, diseases, and drugs. Specifically, it empowers the government to serve as an entry point for offline medical stakeholders; relies on the core system of smart hospitals to help hospitals comprehensively improve their operations; empowers doctors to build the “Bloomberg” think tank AskBob in the medical field, in clinical, scientific research and other fields A full range of assisting doctors; empowering the public health system to respond to pandemic emergencies; building a chronic disease management platform to facilitate early detection, early treatment and early recovery of chronic diseases; providing a package of drug development, quality control, and centralized procurement.
Gao Mengxuan pointed out that Ping An’s smart healthcare business layout has developed rapidly, spanning more than 90 cities in China and Southeast Asia, covering more than 20,000 medical institutions, serving more than 450,000 medical staff, and nearly 300 million service calls. Singapore Singhealth, American medical cloud computing company Arterys, Romania Matei Bals Hospital, Indonesia and other medical institutions have carried out scientific research cooperation to continuously help overseas medical institutions to improve the quality and efficiency of medical services.
Technical barriers: Rely on the world’s leading medical data and knowledge to empower the medical ecosystem
Ping An showcased the world’s leading medical technology for the first time, and its core advantage is leading data and knowledge. Xie Guotong, chief medical scientist of Ping An Group, introduced that relying on the group’s five large medical databases (disease database, medical product database, prescription treatment database, medical resource database, and personal health database), the world’s leading medical data center has been established. 100,000 disease concepts, 420,000 disease terms, etc.; the medical product library contains 180,000 drug instructions, 84,000 Chinese medicine prescriptions, etc.; the prescription treatment library contains 150,000 prescription information, 30 million medical documents, etc.; the medical resource library contains Information on 500,000 Chinese doctors, 2.2 million scientific researchers, etc.; Personal health database contains 1 billion diagnosis and treatment information, etc.
The company also relies on its leading algorithm training platform to demonstrate its differentiation advantages. The Saifei platform supports large-scale parallel experiments, which can reduce workload by 30% to 50% through intelligent scheduling and allocation of computing resources, increase prediction speed by 3-6 times, accelerate calculation by 100 times, and reduce memory consumption by 23%. The core value of these advantages is reflected in the 100% support for the development of medical algorithm models, which can effectively boost R&D efficiency by 5-8 times.
Xie Guotong also introduced that Ping An’s leading data and knowledge is already the medical knowledge base with the largest scale, the most advanced technology, the most complete dimensions, and the most abundant applications. This knowledge base information uses Ping An “medical brain” to support artificial intelligence decision-making and is widely used. At present, Ping An already has the world’s largest intelligent diagnosis assistance platform, the world’s largest chronic disease management platform, the world’s largest medical database, and the world’s second-largest number of patent applications for medical technology. It has the world’s leading technological strength.