In 2019, the total income of Ping an good doctor will be 5.065 billion yuan, an increase of 52% year on year. What step has the internet medical business model been verified?

On February 11, Ping'an good doctor released the annual performance report for 2019 Due to the novel coronavirus pneumonia, the performance report was changed from the original line to online, and four executives also wore masks In 2019, the total income of Ping an good doctor was 5.065 billion yuan, up 52% year on year Among them, online medical revenue of core business reached 858 million yuan, up 109% year on year Novel coronavirus pneumonia annual report 2019 annual performance report conference is currently on the whole country is fighting against the new crown pneumonia epidemic, internet medical treatment in the epidemic prevention and control has played the role of the "second battlefields", the national health and Health Committee two times issued a document to encourage, solid hospitals, Internet Medical enterprises actively promote, the overall service volume of the industry has been greatly improved, Ping an good doctor is no exception During the epidemic, the total number of visits of Ping an good doctor platform reached 1.11 billion, the number of newly registered users of APP increased by 10 times, the daily average number of new users of app was 9 times that of normal times, and the cumulative amount of Related videos played exceeded 98 million How to use the existing medical resources to carry out epidemic prevention and control? How to achieve rapid growth in the past year? How is the business model validated? This paper analyzes the contents of the annual report and press conference of Ping An Hao doctor in 2019 Novel coronavirus pneumonia and new registered users have increased by 10 times The recent nationwide efforts are being made to prevent and control the new pneumonia The epidemic isolated the space distance between people Internet medical treatment can break this distance Its advantages of high efficiency and low risk are more obvious than before The national health and Health Commission issued two consecutive documents within four days, calling for the development of Internet diagnosis and treatment services It is required to carry out Internet diagnosis and treatment consultation for the fever patients in the departments of tissue respiration, infection, emergency medicine, critical medicine, mental health and general practice, so as to accurately guide the patients to seek medical treatment in an orderly manner and relieve the pressure of hospital treatment Novel coronavirus pneumonia advisory consultation, home quarantine observation guidance, science popularization rumor, chronic disease consultation and other services have been launched by the major platforms, and become the second battlefield of epidemic prevention and control Novel coronavirus pneumonia special group novel coronavirus pneumonia has novel coronavirus pneumonia epidemic prevention special group It has worked closely with the relevant agencies of 56 provinces, municipalities and regions in Wuhan, Fujian, Beijing and Chongqing, providing real-time online inquiry service for new crown pneumonia, and opening the special line for epidemic prevention and treatment in various provinces and municipalities, providing free consultation on new crown pneumonia and guidance for epidemic prevention At the same time, ensure the supply of relevant drugs, health products and other products in the online shopping mall; also organize famous doctors and experts to live interpret the key points of epidemic prevention, and cooperate with Beijing Doctors Association to carry out medical science education Ping an good novel coronavirus pneumonia clinic area, as at 23:30 on February 11th High speed rail also has 30 Baidu's leading enterprises, including Baidu, WeChat, spelling, micro-blog, ink weather, Kwai, Himalaya, high-speed rail stewardship and so on It also exports 24 hours online inquiry, epidemic dynamics, medical science and other contents, and also gains traffic and users During the epidemic period, the total number of visits of Ping an good doctor platform has reached 1.11 billion, the number of newly registered users of APP has increased by 10 times, the daily average number of new users of app is 9 times that of normal times, and the cumulative amount of relevant videos has exceeded 98 million   The operation data of safe and good doctors in the epidemic situation is not unique Since the outbreak, micro doctors, Ding Xiangyuan, Chunyu doctors, and good doctors have launched special zones for epidemic prevention and control, and opened the entrance of consultation to news, information, entertainment, life, social networking and other platforms In total, they have been opened to hundreds of third-party platforms The epidemic prevention and control zones of some internet medical platforms have reached 18 Billion views In the face of epidemic prevention and control, the internet medical industry fully embodies the social responsibility and value, and has also been recognized by the government, hospitals, doctors and users, especially the cultivation of user habits, which is crucial for the new round of development of the internet medical industry But at the same time, how to continuously optimize the user experience during the epidemic and how to keep the users after the epidemic are also the problems that the whole industry needs to face Novel coronavirus pneumonia, chairman of the doctor, executive director and CEO Wang Tao believes that the internet medical industry has great potential and has experienced a new crown pneumonia epidemic The government and users have higher recognition and acceptance of the efficient and convenient online diagnosis and treatment "We will continue to work hard to improve the service ability of online medicine, the ability of AI assisted diagnosis and treatment system, and the user experience and patient satisfaction, which has been the focus of our attention for a long time." In 2019, the total income will increase substantially, and the net loss will be narrowed Let's see the performance of Ping an good doctor in the past year In 2019, the total income of Ping an good doctor was 5.065 billion yuan, up 52% year on year, and the net loss was 747 million yuan, down 18.2% from 2018 From 2015 to 2019, the compound annual income growth rate of Ping an good doctor reached 106% Ping an good doctor has four business lines including online medicine, consumer medicine, health mall, health management and interaction In 2019, the revenue of each business line will keep increasing Financial data of all business lines of Ping'an Haofu, source: the core position of online medical in 2019 annual report continues to improve Online medical service is the core business of Ping an good doctor, that is, to assist the self owned medical team through the self-developed AI auxiliary diagnosis and treatment system, to provide users with medical services including 7 × 24 online consultation, referral, registration, online drug purchase and one-hour delivery, and to provide a diversified one-stop member service with the self owned medical team as the core As of December 31, 2019, the self owned medical team of Ping an good doctor reached 1409, an increase of 17.8% year on year AI assisted diagnosis and treatment system has been deeply applied to all 22 departments of our own medical team, covering the diagnosis knowledge of 3000 diseases, and has structured the medical knowledge in the field of traditional Chinese medicine to improve the efficiency of consultation In 2019, Ping'an good doctor continued to expand the external cooperative medical network, and has signed 5381 external doctors, all of whom are deputy chief doctors and above of the third tier a hospital External doctors mainly provide non core services such as non real-time online consultation and offline second consultation of famous doctors The number of cooperative medical institutions is more than 3000, including more than 1900 third tier A hospitals By the end of 2019, there were 94000 cooperative pharmacies of Ping an good doctor, covering 375 cities, a significant increase compared with 15000 pharmacies at the end of 2018 Through the integration of the above internal and external resources, Ping an good doctor launched the strategic product private doctor in 2019, and the signing amount on the first day of the launch exceeded 300 million yuan In 2019, the total income of online medical treatment was RMB 858 million, with a year-on-year growth of 108.9% Among them, the income of member products exceeded RMB 400 million, that is, private doctors and medical services 360 In addition, the e-prescription sales and other businesses generated by online consultation service also increased significantly The three-year change of online medical performance of Ping an good doctor, data source: annual reports of 2018 and 2019 As can be seen from the above figure, online medical revenue has maintained rapid growth in the past three years, and the gross profit rate has declined in 2018, but it has begun to recover in 2019 This is mainly due to the significant increase of service usage and number of customers in the consultation service agreement between Ping'an good doctors and cooperative customers in 2018, which indicates that Ping'an good doctors have been recognized by more and more users, but at the same time, it also increases the cost, resulting in the decrease of gross profit rate of the business, thus affecting the overall gross profit rate of online medical sector At the beginning of 2019, Ping an good doctor and Ping An Life Insurance re signed the consultation service agreement and increased the service fee to match the consultation volume, and the gross profit rate gradually recovered "As an Internet healthcare company, our revenue path has always been clear and clear." Wang Tao said We also see that the proportion of online medical business income in the total income of Ping an good doctors has increased from 12.96% in 2017 to 16.94% in 2019, and the positioning of its core business has been further consolidated The consumption of residents' health care is increasing, and the growth of consumer business is considerable Consumer medicine can provide standardized health services including physical examination, medical beauty, oral and genetic testing for individual and enterprise customers It can also provide users with value-added services such as interpretation of inspection reports and offline re inspection As of December 31, 2019, the network of consumer medical providers covers 430 TCM clinics, more than 2000 physical examination centers, nearly 1800 dental clinics, more than 150 medical and beauty institutions and more than 48000 clinics Ping an good doctor integrates the above rich offline service resources, takes physical examination as the starting point, health information integration as the basis, and provides comprehensive and professional disease risk analysis and assessment, Post Examination follow-up guidance and other one-stop medical and health services for users through its own medical team In 2019, the service revenue of consumer medical business was RMB 1.112 billion, up 22.9% year on year The business of health mall is operated in two modes of self operation and platform, providing many kinds of commodities such as Chinese and Western Medicine (over-the-counter medicine), nutrition and health care, medical equipment, mother and child care, sports and fitness As of December 31, 2019, there are nearly 1400 cooperative merchants in health mall, covering about 1.31 million SKUs, an increase of about 500 and 700000 respectively compared with the same period in 2018 On the basis of rich commodity types, Ping'an good doctor strengthens the traffic operation, and continuously improves the user experience and conversion rate through the precise marketing of thousand person thousand face recommendation algorithm This makes the revenue of health mall in 2019 reach 2.902 billion yuan, an increase of 55.7% year on year According to the data of the National Bureau of statistics, in recent years, the per capita disposable income of the whole country has increased year by year From 2014 to 2019, even after deducting the price factor, the per capita disposable income has maintained a real growth rate of 5% - 7.5% At the same time, the proportion of consumption expenditure and health care consumption expenditure is also increasing The proportion of health care consumption expenditure in consumption expenditure increased from 7.2% in 2014 to 8.8% in 2019 This may be related to the rising cost of health care, but it also shows that people's health awareness is increasing In the future, with the continuous improvement of living standards, people's pursuit of comfortable and beautiful consumer health care will still increase Under the background of reshaping the drug distribution pattern, the innovative drug marketing mode, health management and interactive business, provides professional advertising products and services for enterprise customers through the precise medical health flow converged on the online platform to obtain income In 2019, Ping an good doctor innovated the marketing mode, from the promotion and upgrading of drugs to comprehensive strategic cooperation, and provided multi-dimensional services including user scenario education for drug enterprise customers In December 2019, Ping an good doctor and Merck reached a cooperation The two sides will work together to build a comprehensive digital medical solution, giving full play to the advantages of Ping an good doctor in AI medical technology research and development, self owned medical team, number of users, cooperation of insurance companies, online and offline medical resources, medical health ecosystem, etc., as well as Merck's medical expertise, high-quality drugs and innovation Rich experience in new solutions, etc The above digital solutions will focus on the auxiliary diagnosis and targeted disease management of chronic diseases and infertility, and focus on solving the pain points of patients As of 2019, the advertisers of Ping an good doctor include Merck, Pfizer, MSD, Sanofi and other internationally renowned pharmaceutical enterprises Based on the health data uploaded by users and the behavior data on the platform, Ping an good doctor accurately portrays and personalizes users