Like many countries, China has health problems. Demographic and lifestyle changes mean demand for healthcare exceeds growth in medical resources and costs are rising faster than insurance premiums.
The world’s most populous country is elderly, with 250 million people over the age of 60. Diseases associated with more affluent societies such as cardiovascular conditions and diabetes are on the rise. There are 400 million chronic diseases in China whose treatment costs 70% of the total healthcare resources. And there is a shortage of medical professionals – China needs an additional 700,000 general practitioners and 10 million nursing staff. In 2012, the country spent tr trillion RMB (926 billion) on healthcare, a figure that is expected Reached 16 trillion RMB in 2030.
But the unequal distribution of resources and their inefficient use means that the cost of providing healthcare is unreasonably high: China’s top hospitals are overwhelmed with patients, but most of them have mild conditions and don’t need to be in healthcare centers. 23% of all hospitalized patients are in top level hospitals, which is only 0.0% of the total number of hospitals. And patient information is fragmented into thousands of local clinics and hospitals, further complicating the implementation of diagnostic, treatment and effective public health policies. This invisible structure wildly increases the cost of service arrangements and healthcare, making it difficult for insurers to provide standardized coverage.
The government acknowledges these challenges and the need to reform the healthcare system. President Xi Jinping has identified public health as a key issue in the country’s policy-making agenda, emphasizing health on the government’s policy-making agenda. The national goal of “Healthy China 2030” focuses on a comprehensive overall assessment of disease prevention and healthcare systems.
The big question, however, is how to connect all stakeholders in China’s broader healthcare system in a way that reduces costs, improves public health outcomes and makes healthcare more insurable? For Ping Ann, trying to influence one section or another is not the answer. The solution must involve a whole ecosystem involving governments, patients, suppliers, providers and technology in dynamic interactions that enable everyone to work to their full potential.
Not surprisingly, the skills provided through digitalisation have the potential to change the way healthcare is delivered in China. But considering the scale, complexity, and importance of the challenge, Ping Ann believes that improving healthcare delivery online or connecting different data sources should go a long way toward improving outcomes for all stakeholders.
Instead, there needs to be a transformation that achieves the integration of “horizontal” and “vertical”. Guava, suppliers and patients need to be more connected to increase efficiency, and providers need to be able to communicate their needs with their providers to help determine the cost and level of healthcare services. Only a high level of integration can ensure that the healthcare ecosystem is sustainable. This is why Ping An’s healthcare ecosystem strategy – and the role of its 12 distinct entities in the sector – is built on this holistic online and offline approach.
Technology is at the heart of this strategy. Building an effective digital infrastructure for improved health care in China includes the higher development of advanced professionalism working in the Chinese healthcare market, as well as substantial investment in cloud, artificial intelligence (AI) and data management systems: Ping An is a recognized leader in the fields involved. Composing a commitment to innovation, Ping An Healthtech and Fintech invest 1% of its annual revenue in research and development of technology.
This leadership in technology is the key to better outcomes for all participants, including Ping An’s ecosystem strategy and the organization itself. At the moment, private% of China’s healthcare spending account only pays by private commercial healthcare insurers. As a result, insurers are limited in their ability to contribute to China’s healthcare system.
Ping Ann’s technology and services change this equation. The value of Ping An’s technology to the government in monitoring and improving public health – not to mention its benefits to medical professionals – allows the agency to access public health care organizations. That means PIN can help organizations improve operations, manage costs, and provide patients with improved and more affordable services, making healthcare more insurable.
Built in a comprehensive database of diseases, medical products, treatments, medical resources and patient information Ping is a smart healthcare provider At the center of this “vertical integration”. It provides tools for managing public health care, empowering suppliers and improving access to medical resources and patient outcomes.
For example, Ping enables a smart healthcare intelligent image analysis system to reduce the diagnosis time from 15 minutes to 15 seconds. Integrated Data Analysis Package, Escobili is “Bloomberg for Physicians”. Meanwhile, SQB has used about 710,000 doctors, covered about 3,000 diseases, and its AI capabilities in diagnosing and treating cardiovascular disease are comparable to those of human doctors. In a competition at the Great Wall International Congress of Cardiology last year, SQB scored 97.7 points, compared to 939 points for doctors from top-level hospitals.
In collaboration with China’s National Clinical Research Center for Metabolic Diseases, Ping An Smart Healthcare has developed an advanced type 2 diabetes management tool powered by its in-house AI technology and database resources. A 30% improvement in patient care and patient consent rates has been provided.
Across the spectrum
Ping is a good doctor and smart healthcare together to create a powerful product and service cost model, drawing up suppliers and social health insurance systems to run CNG. Good Doctor is critical to the group’s efforts to connect patients, suppliers and donors through the “horizontal” axis of its ecosystem strategy. Ping Un Good Doctor provides online counseling with AI-assisted medical teams and seamlessly integrates with offline treatment services within the ecosystem. Users can search for free basic information with the help of expensive advice and treatment.
Telemedicine intake increased during the epidemic. As of December 30, 2020, Ping Un Good Doctor had an average of 72.6 million monthly users and a total of 373 million users with about 903,000 daily searches. A network of indigenous medical specialists and 300 renowned doctors.
But while these numbers continue to be impressive and growing, currently only 3% of all treatment consultations are conducted online in China – a lower proportion than in the United States. To be truly transformational, the ecosystem must feel a substantial amount of advice that still happens offline.
The ecosystem network of offline healthcare providers is therefore crucial. Ping is a Good Doctor partner in 151,000 pharmacies, 49,000 clinics, more than 3,700 hospitals and more than 2,000 medical examination centers such as hospital referrals, appointments and arranging patients. Ping An Good Doctor works with over 1000 international physicians and the top ten hospitals in the world to ensure easy and accurate treatment services for the user.
Paying the bill
The benefits of this ecosystem strategy for government, patients and suppliers are obvious, but guava is involved in covering the cost of advanced healthcare in China – and this opportunity lies in Ping An’s strategy for commercializing healthcare ecosystems for pinging insurance products. Ping Ann Health connection Social health insurance providers provide donors and companies with anti-fraud and healthcare resource management models that reduce overtreatment, fraud and abuse. The group’s recent Ping A Doctor Home offer, which provides online private family medical services, includes insurance coverage up to 10 million RMB from time or property damage or loss due to the platform.
In total, Ping Ann Group already provides healthcare services to 210 million individual financial services customers and four million corporate clients. But the transformation of China’s healthcare system is a long-term investment in Ping An’s own future: a healthy healthcare system allows the company to acquire new financial services customers as well as maintain and increase spending by existing financial services customers with the group.
The information makes this business case even stronger. In recent years, 15% to 20% of customers of Ping An’s new financial services have come from this growing healthcare ecosystem. Financial service customers who have healthcare services use an average of three pings a financial services product, whereas financial services customers use both products in this group, except healthcare services. Customer-managed (AUM) assets using both financial and healthcare services জন্য 5,600 vs. জন্য 10,000 for those using financial services only.
Lessons for the world
Confucius said that “when the goal cannot be reached, the goals clearly do not align; the steps of action align.” It reflects the desire to think differently about how.
Some of the unique features of China’s system, especially its open approach to data-sharing and the government’s role in healthcare, undoubtedly help implement Ping An’s ecosystem strategy. However, the healthcare challenges facing China are not unique. Indeed, data fragmentation, inefficiency, high costs, and a lack of medical professionals are hurting healthcare systems around the world. Undoubtedly, all governments will want to use technology to better monitor and protect public health, especially since the outbreak of Kovid-19.
Each country will make its own decisions about how patient information can be collected, collected and shared, and the role of government in healthcare must be different for each country. But it is clear that in order to achieve better outcomes for patients, suppliers, financiers and governments – such as Ping An’s healthcare ecosystem strategy in China – somehow need to build efficiency and increase AI power and standardize spending and level of medical services.
This content was produced by Ping An. This was not written by the editorial staff of MIT Technology Review.