SHANGHAI, March 20, 2024/PRNewswire/ -- On March 19, 2024, Ping An Healthcare Technology Co., Ltd. (stock abbreviation “Ping An Good Doctor”, 1833.HK, hereinafter referred to as “Ping An Health” or “Company”) announced its 2023 annual results report. With core competitive advantages such as rich payer resources for medical and health services such as insurance, financial clients, enterprises, etc., an extensive network of service providers, a perfect service standard system, and strong Ping An ecological resources, Ping An Health has deepened the implementation of managed medical strategies and is deeply cultivating the construction of two core hubs: “family doctor” and “pension manager”. During the reporting period, the company recorded annual revenue of 4.67 billion yuan, and net loss narrowed sharply by 47.6% year-on-year to 330 million yuan. Among them, there was strong growth in the strategic business. Revenue from health care services for insurance and financial clients was 2.20 billion yuan, up 14.8% year on year, and enterprise employee health management service revenue was 1.08 billion yuan, up 81.2% year on year. The business structure was continuously optimized, driving the company's gross margin to rise 5.4 percentage points to 32.3% year on year, and profits are expected to accelerate.

Deepening the managed care model Overall leader in the corporate health management market 

Under Ping An's characteristic managed medical model, the financial side, enterprise side, and personal side are the three main payers. As the flagship of Ping An Group's healthcare and pension ecosystem, Ping An Health provides online and offline one-stop, 7*24 hour, active healthcare management services for users of the Group's comprehensive financial services such as life insurance, industrial insurance, health insurance, and banking. According to the user profile and healthcare needs of different financial businesses, we help financial customers acquire customers, stick customers, and convert users twice through business models such as “product integration”, “equity procurement”, and “value-added services”. The number of payers in the past year increased to about 26.3 million, up 6.7% year on year, and single customer value (ARPU) grew 7.5% year over year. Among them, the “Premium Run” service system continued to be built by Ping An Life Insurance was further upgraded during the period. On the basis of services such as special medical examinations, online consultation, appointment registration and follow-up, sugar control management, and serious illness and project management, Ping An Family Medicine was used as a hub for user service and operation to create a “worry-free, time-saving, and money-saving” one-stop medical and health service experience, and user usage rates and satisfaction continued to increase. According to data disclosed in Ping An Group's third quarterly report, the number of contracts per customer and average AUM per customer that used Ping An Group's medical and pension ecosystem services was 1.6 times and 3.4 times that of other individual customers, respectively.

The corporate health management circuit is an important strategic layout for the deepening of the company's Strategy 2.0. By helping companies improve the health status of employees, improve employee work efficiency, and help create a happy workplace. In the past 12 months, the number of paid enterprise service users exceeded 5.1 million, an increase of 75% over the previous year. A total of 1,508 enterprise customers were served, an increase of 530 over the same period last year, and the single customer value (ARPU) increased 3.6% year on year. The company continues to consolidate the “Easy Enterprise Health” enterprise health management product system, and establish a more competitive differentiated product service matrix through in-depth research and exploration of employee health management needs. Take China Resources Snow Beer Cooperation as an example. Due to the company's large number of employees, wide geographical distribution, and remote areas involved, the annual employee medical examination work is a huge project. Ping An Health provides it with strong medical service resources covering the whole country to meet the individual needs of different regions. In the future, the company's resource investment will further focus on strategic business development under the managed medical model and continuously improve the efficiency of resource allocation and use.

Build“Ping An Family Medicine” medical service brand digital intelligence technology injects new momentum into service improvement 

Family doctors are one of the core hubs of the company's medium- to long-term development strategy. In 2023, the number of family doctor members covered nearly 13 million people. The per capita frequency of family doctor services was 3.7 times, an increase of 0.8 times over 2022, and the five-star customer consultation rate exceeded 98%. During the period, Ping An Health launched the “Ping An Family Medicine” flagship medical service brand. Through a family doctor portal, it integrates service resources such as family doctors, specialists, famous doctors, medical treatment, etc., and efficiently links the “online to the store” rich service network, which can achieve “rapid diagnosis of minor diseases, standardized management of chronic diseases, and accurate transformation of major diseases”, providing users with a high-quality and convenient end-to-end medical treatment experience.

By the end of the reporting period, the company had established a team of about 50,000 internal and external doctors covering 29 departments, and cooperated with nearly 2,500 famous medical experts to meet the needs of users for full-scenario and multi-level medical and health services. At the same time, the company has established 23 specialty centers around 8 major specialties to create standardized pre-diagnosis, in-diagnosis, and post-diagnosis solutions for specialist specialties. Taking chronic disease management services as an example, the company launched the three major chronic disease services for sugar control, pressure control, and weight loss. By establishing personal health files for users, providing personalized solutions, and full-process monitoring and management guidance, the company helps users effectively improve their health standards.

Furthermore, the company attaches great importance to the continuous upgrading and deepening application of artificial intelligence technology in the medical and health care field. The company's “artificial intelligence+medicine” now covers about 36,000 diseases, 420,000 disease terms, and 20,000 clinical guidelines covering the world's top 30 million documents. It maintains 10,000 pieces of medical knowledge updated daily, and has assisted doctors in the application of the entire service process. Up to now, the company has consulted and consulted for nearly 480 million people, and the cumulative number of consultations has exceeded 1.42 billion. The reception rate within 30 seconds of speedy consultations has reached 92.9%, and the patient praise rate has reached 99.2%. In the future, in the context of China's vigorous development of new quality productivity, Ping An's characteristic “artificial intelligence+medical treatment” will continue to help improve service energy efficiency and user experience in all aspects, and protect the company's high quality and sustainable development.

Building the Trinity“Elderly Care Manager” to create a full-scene, high-quality nursing experience 

As the aging process in our country accelerates, how to be nourished and treated in old age has become an important issue relating to social stability and development. Currently, the development of pension finance and pension services has risen to the height of a national strategy. The 2023 government work report proposes to respond positively to the aging population, promote the development of aging and the pension industry, and support the development of community and home care services. In recent years, Ping An Health has had a deep insight into market demand, collaborated with Ping An Life Insurance to focus on the top ten scenarios of “medical, food, lodging, financial well-being and security” and “1 set of supervision systems” to provide one-stop, high-quality home care solutions for the elderly, and achieve 7*24 hour service through the “trinity” of smart housekeepers, life managers, and doctor managers. In addition, the company also integrates Peking University's medical rehabilitation service standards, collaborates with more than 40 rehabilitation and nursing service providers and industry experts to create a “nursing consortium” for the elderly, establish strict service standards and service supervision systems, and continuously optimize the “professional and warm” user experience.

Since exploring the safe home care service model, the results have been increasingly remarkable. As of 2023, Ping An Home Care Services covered 54 cities across the country, and a total of nearly 100,000 people were eligible for Ping An Butler Service. 95% satisfaction with the butler service.

In the field of sustainable development, the company actively fulfills its social responsibilities. While focusing on its own development, it is also committed to promoting sustainable development actions to help build a greener, healthier and more harmonious social environment. The company established a sustainable development committee, formulated a sustainable development strategy, goals and action plan, and set a three-year sustainable development goal. Up to now, Ping An Health has received MSCI ESG rating “A” for three consecutive years.

The 2024 “Report on the Work of the Government” has repeatedly focused on the health care sector and the development of an integrated medical care ecosystem. Looking forward to the future, Ping An Health will cooperate closely with Ping An Group to continue to create a sample of the Chinese version of managed care. Li Dou, chairman and CEO of the company, said that the company will further play the role of a “family doctor” and “senior care manager” as a core hub, polish products with ingenuity, create reputation with quality, strive to provide long-term sustainable value to users, shareholders, and society, and make unremitting efforts to help implement the strategies of digital China and healthy China.