BEIJING, Nov. 28, 2018 /PRNewswire/ -- On November 28, the 2018 Global Women's Innovation Summit, co-sponsored by the top media outlets for Chinese businesswomen in finance -- TOP HER and Jiemian News, was held in Beijing. Ms. Bai Xue, the Chief Operating Officer (COO) of Ping An Health Medical Technology Company Limited ("Ping An Good Doctor", stock code: 01833.HK) was invited to attend the ceremony and delivered a keynote speech titled "Technological Innovation Makes People Healthier". Ms. Bai Xue believes Ping An Good Doctor uses the "Internet + AI" technology to reshape the healthcare industry, to provide users across the world with the best healthcare services.
"I have always been curious about the unknown aspect of the world. I believe that China's medical and healthcare market will boom in the next 5-10 years. The market value is expected to reach RMB8 trillion by 2025, of which the potential transaction volume of internet healthcare is expected to reach hundreds of billions of yuan," said Ms. Bai Xue.
When talking about China's medical and healthcare market, Ms. Bai Xue believes, "The combination of 'Internet + Artificial Intelligence (AI)' is an important breakthrough in addressing the current industry pain points: lack and uneven distribution of quality medical resources, poor medical service experience, and social security funds gradually failing to help people make ends meet." Also she emphasized that only the technological innovation is the key support for the orderly progress of medical reform.
Ms. Bai Xue also explained how internet technology enables quality medical resources to be instantly shared across regions, breaking down barriers that lead to the uneven distribution of medical resources. Meanwhile, AI can complement the insufficient number of family doctors and relieve the consultation pressure on offline medical institutions by improving efficiency. Ms. Bai Xue added that since the App was released in 2015, Ping An Good Doctor has been actively developing AI technology. Furthermore, the Company chose to invest in AI R&D to meet its own business needs. At present, the commercial scenario of medical and healthcare is suffering from limited manpower of family doctors and limited material resources for health profiles. However, AI technology helps standardize the diagnosis and treatment process, and structuralize the behaviors such as collecting patient information and asking for symptoms.
"More importantly, the greatness of AI lies in its cost control," said Ms. Bai Xue, pointing out that an offline consultation costs hundreds of yuan while the cost of an online consultation is less than one-third of the price. "Only the power of technology allows for such a substantial drop in cost," she said.
Leveraging "Internet + AI" technology, Ping An Good Doctor has become the largest unicorn company in the global medical and healthcare field in just over three years. It has built four core strengths in the industry, including an in-house medical team of more than a thousand medical personnel, the world's leading AI medical technology, a massive base of healthcare users and healthcare big data.
Ms. Bai Xue said that by integrating an AI-empowered medical team, external doctors and the offline network, Ping An Good Doctor has established a closed-loop healthcare ecosystem which enables users to enjoy online consultations and online drug purchases, as well as online consultations and offline follow-up treatment, thereby providing convenient, high-quality and efficient family doctor services. With the data of more than 300 million online consultations accumulated by an in-house medical team of more than a thousand medical personnel, plus more than 200 of the world's top AI experts, Ping An Good Doctor has developed the most advanced AI Doctor in the medical profession. It can increase the efficiency of doctors' consultations by more than 5 times, greatly improving the efficiency and accuracy of online consultations.
"This year, our AI Doctor has been applied from the online consultation to Class III Grade A hospitals, primary healthcare workers, and even village doctors in China," said Ms. Bai Xue, adding that Ping An Good Doctor has stringent requirements for AI technology applications and only launches such technology when it reaches a certain degree of accuracy. "The nature of medical and healthcare is scientific and precise. Ping An Good Doctor hopes to utilize AI technology to propel the development of offline medical treatment."
"The uneven distribution of quality medical and healthcare resources is a global problem. Ping An Good Doctor enables users to enjoy the best healthcare services anywhere in the world." Ms. Bai Xue believes that it is Ping An Good Doctor's mission to use technology to make people healthier, with the vision of "providing every family with a family doctor, every person with an e-health profile and everyone with a healthcare management plan". With the in-depth application of "Internet + AI" technology, this vision will become a reality.
Meanwhile, as an outstanding businesswoman who has achieved excellent results in innovation in the field of medical and healthcare, Ms. Bai Xue won the "2018 Most Influential Innovative Women" award at the summit, becoming the only female business leader in the healthcare industry to receive the honor this year.
The "2018 Most Influential Innovative Women" award were selected by a jury of world-renowned media, industry analysts and investors. The winner was picked by internet voting and the jury. With their strengths in innovation, leadership and communication, 10 female candidates stood out as global business pioneers.
About Ping An Healthcare and Technology Company Limited (01833.HK)
Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor", stock code: 01833.HK) is the leading one-stop healthcare ecosystem platform in China. By combining "mobile health + AI technology", the Company strives to provide every family with a family doctor, every person with an e-health profile and everyone with a healthcare management plan. Ping An Good Doctor has established a comprehensive, one-stop healthcare ecosystem covering family doctor services, consumer healthcare services, a health mall as well as health management and wellness interaction.
As of the end of June 2018, there were 228 million registered users and the Company's MAU reached 48.6 million. Ping An Good Doctor is today the largest mobile medical application in China in terms of user scale. Ping An Good Doctor employs more than a thousand medical personnel (Assistant Supervisor Level or above from Class III Grade A Hospitals) in its in-house medical team and contracts with 4,650 renowned external doctors. This in-house medical team, empowered by our proprietary AI technology, provides users with 24 x 7 online consultation services. In our offline partnership network, Ping An Good Doctor collaborates with approximately 3,100 hospitals (including more than 1,200 Class III Grade A hospitals) to provide services such as hospital referral, appointment and inpatient arrangements. Ping An Good Doctor also partners with more than 2,000 healthcare institutions, including physical examination centers, dental clinics, cosmetic surgery institutions and more than 10,000 pharmacy outlets, to provide relevant health and wellness services to our users. By integrating our AI-empowered medical team, external doctors and offline network, Ping An Good Doctor has established a closed-loop healthcare ecosystem which enables our users to enjoy online consultations and online drug purchases, as well as online consultations and offline follow-up treatment, thereby providing convenient, high-quality and efficient family doctor services.
In April 2015, the App "Ping An Good Doctor" was officially launched. In May 2016, the Company completed an A round financing and raised US$500 million. In December 2017, the Company completed the pre-IPO financing from Softbank Vision Fund, during which it raised US$400 million. On 4 May 2018, Ping An Good Doctor became the No.1 listed internet health-tech company in the world when it joined the Hong Kong Stock Exchange, stock code 01833.HK. Our IPO cornerstone investors include Blackrock, Capital Group, GIC, Canada Pension Plan Investment Board, Khazanah Nasional Berhad, Swiss Re and CP Group.
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