China’s biggest online health care platform, Ping An Good reports monthly active users reached 54.7 million, representing an increase of 85.4%, in its first annual results since listing. While also posting a loss on revenues, the group states that its one-stop healthcare service model is effective. Their plan is to be a globally influential internet healthcare platform.
Ping An Good has posted a loss of Rmb913 million (US$136.7 million) on revenues that climbed 78.7% to Rmb3.3 billion. Its family doctor services business, the core business segment of the company, achieved strong performance and grew 69.6% to Rmb411 million, while monthly paying users rose 86.2% to 2.36 million. Monthly active users reached 54.7 million, representing an increase of 85.4%.
In the family doctor business, the group’s AI-assisted in-house medical team and external doctors provide users with one-stop services, including online consultation, referral, registration, hospitalization, second diagnosis and one-hour drug delivery. “The one-stop service has greatly lowered the threshold for users seeking medical treatment, supported the tiered diagnosis and treatment which is encouraged by the government, and helped realise the cost-effective control of the medical system, reducing the burden on hospitals and society,” the group said in a statement.
It added that thanks to the improvement of the AI-assisted medical system and optimisation of the operation of the in-house medical team, the daily average number of consultations reached 535,000 at the end of the last year – a year-on-year increase of 45.4% – and that it maintained a 98% user satisfaction rate.
“We will continue to provide users with quality medical and healthcare services with the combination of Internet, AI and our one-stop, online/offline healthcare platform, and build Ping An Good Doctor into a globally influential internet healthcare platform,” said chairman and CEO Wang Tao.
The group has an in-house medical team of 1,196 staff members and 5,203 contracted external doctors (associated chief physicians or above at Grade III 3A hospitals), while its 1-hour drug delivery network covers 86 cities across China. Ping An’s healthcare provider network covers nearly 400 traditional Chinese medicine clinics, over 1,300 check-up centres, over 1,200 dental clinics and over 120 medical beauty clinics.
Backed by Ping An Insurance Group Co of China, Ping An Good Doctor raised US$1.12 billion in its Hong Kong IPO last year.
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