Healthcare as a New Driver of Value Growth
Ping An has developed its healthcare ecosystem for over 10 years, covering business lines including insurance, healthcare, investment and technology.
Ping An has upgraded its healthcare strategy to build a Chinese version of managed care model, connecting various stakeholders such as customers, patients, insurers, hospitals, doctors, and health service institutions. Leveraging its extensive operational and managerial experience in the insurance and healthcare industries, Ping An is exploring its managed care model centered around "insurance + healthcare management" and "insurance + elderlycare." The healthcare ecosystem is supported by Ping An Life, Ping An P&C, Ping An Annuity, and Ping An Health (also known as Ping An Good Doctor).
Ping An provides services through an integrated network of“online，in-store, and home-delivered”facilities, incorporating both domestic and overseas medical and health services. As of 2022, Ping An had established partnerships with over 45,000 contracted external doctors in China, along with over 10,000 hospitals (including the top 100 hospitals and 3A hospitals), over 100,000 healthcare management institutions, and approximately 224,000 pharmacies in China. Additionally, Ping An had collaborated with over 1,000 overseas medical institutions in 16 countries worldwide.
The healthcare market in China has enormous growth potential as demand for quality medical and healthcare services rises. As of 2022, nearly 64% of its nearly 227 million retail customers used services from health care ecosystem. They held approximately 3.41 contracts and RMB54,500 in AUM per capita respectively, 1.6 times and 3.0 times those held by non-users of these services respectively.
Serving as the integrator of Ping An's healthcare ecosystem, Ping An health provides membership-based healthcare services via dedicated family doctors, guiding members through an "end-to-end" service network that covers consultation, diagnosis, and treatment. As of 2022, Ping An health had a team of nearly 4,000 in-house doctors.
Empower Healthcare with Technology
Ping An is continuously advancing healthtech research and develpment, ranking first globally in terms of the number of digital healthcare patent applications as of 2022. With one of the world's largest healthcare databases, Ping An enbables precise diagnosis of approximately 4,000 disease, and actively builds a leading remote consultation and treatment platform.
Ping An is committed to building proprietary AI technology, such as AskBob, an AI-based diagnosis and treatment assistance tool for doctors that launched in 2019. It provides intelligent literature analysis and the latest scientific research insights to help doctors make diagnoses and treatment decisions. Since its launch, AskBob AI-driven doctor has been used for over 1,269 million consultations, and the accuracy of AI-based medical case triage has exceeded 99%.
Ping An effectively supports sustainable development of the healthcare ecosystem by building technological capabilities in a forward-looking manner.