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Ping An Good Doctor's Wang Tao: 'Internet + AI' Will Reinvent Medical Services and Provide Every Chinese People with Family Doctor Services

2018-11-09 17:19
https://photos.prnasia.com/prnvar/20181108/2294085-1

SHANGHAI, Nov. 9, 2018 /PRNewswire/ -- With the rapid development of the internet and artificial intelligence (AI) technology, new technologies, new formats, new products, and new services are constantly changing, and this has really changed people's lives. However, there are still problems when it comes to seeing a doctor, long lines, and poor experiences at hospitals and clinics, which affect the quality of life of Chinese people. On November 8, at the Fifth World Internet Conference held in Wuzhen, Mr. Wang Tao, the Chairman and CEO of Ping An Good Doctor (the "Company", stock code: 1833.HK) presented his "prescription solution." According to Wang: "'Internet + AI' will reinvent medical services and provide every Chinese people with family doctor services."

Mr. Wang Tao, the Chairman and CEO of Ping An Good Doctor
Mr. Wang Tao, the Chairman and CEO of Ping An Good Doctor

"We now feel that it is generally difficult and expensive to see a doctor. The most important factor behind this is Class III Grade A hospitals account for only 8% of the total number of hospitals in the country but must accept more than 50% of the patients. Everyone wants to see a good doctor, so the major Class III Grade A hospitals are overcrowded. One data set shows that at present, the average queuing time for domestic medical treatment is as high as three hours, and the average consultation time is less than eight minutes," Wang said.

When talking about the current medical services market in China, Wang summed up two major pain points: quality medical resources are scarce and unevenly distributed; experiences with medical services are poor. Wang believes the only way to address the pain points of medical services is to fully apply "Internet + AI" technology to improve the efficiency and service level of the entire industry, and thereby reshape the entire medical services market.

"Everyone wants to enjoy the best doctors, but where do they come from? It is certainly not possible in the traditional way, and it is impossible to have enough finances, material, and time to solve the problem. We will use artificial intelligence to find a solution to the problem of the shortage of good doctors in China." Wang believes that with the big data of more than 300 million online consultations accumulated by an in-house medical team of over 1000, 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 reduce the misdiagnosis rate of traditional medical care, improve the efficiency of medical resources, accurately match the needs of doctors and patients, and simplify the doctor's workflow.

At present, AI Doctor has already entered The People's Liberation Army No. 303 Hospital, Qingdao Eye Hospital, The First Affiliated Hospital of Jinan University, The Third Affiliated Hospital of Southern Medical University, and over 100 Class III Grade A hospitals nationwide, multiplying the efficiency and accuracy of hospitals and reducing operating costs.

In addition, AI Doctor technology has entered Traditional Chinese Medicine (TCM), corresponding to the Chinese medicine consultation process of "observation, listen to breathing, ask about symptoms and pulse-taking". Ping An Good Doctor successively launched Smart TCM Diagnosis by Tongue Observation, Smart TCM Diagnosis by Listening, Smart consultation, and Smart TCM Diagnosis by Pulse-taking. It can simulate TCM medicine practitioners to conduct inquiries before diagnosis, and through comprehensive analysis and inferential diagnosis, generate a structured medical history that conforms to the case specification, transmit the analysis results to the doctor's workbench, intelligently recommend Chinese medicine prescriptions for doctors to choose, and effectively improve the patient experience.

Wang Tao believes that in traditional medical treatment, the patient is tied to the hospital and doctor, but "Internet + AI" can open up all aspects of the medical industry, integrated resources can "revolve around the patient" and provide the patient with an efficient service. "Now that internet health-tech companies like Ping An Good Doctor have been able to provide incredibly convenient and efficient quality medical services, the average consultation time of our platform is only 26 seconds. Patients can complete a one-stop online consultation and purchase medicine without leaving their home. It takes only one hour to deliver medicines to the home, and individualized electronic health records can also be generated. Ping An Good Doctor now has more than 200 million registered users, and there are more than 500,000 consultations every day," Wang said.

"Big data and artificial intelligence can greatly improve industry efficiency and medical security, reduce the burden on hospitals, doctors and patients, and at the same time reduce the burden on our government and generate great social value," Wang added.

Looking to the future, Wang Tao believes that as more and more people experience the changes brought by "Internet + AI" to medical services, every Chinese person can have access to family doctor services and enjoy outstanding quality of medical and health services. "Looking forward, we will enter the era of the Internet of Things (IOT) where a cup or a pair of glasses can become an IOT smart device, directly transmit health data to us and truly achieve health management and disease prediction," Wang added.

About Ping An Good Doctor (1833.HK)

Ping An Good Doctor 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.

Photo - https://photos.prnasia.com/prnh/20181108/2294085-1

 

Source: Ping An Good Doctor

Related stocks: HongKong:1833 OTC-PINK:PIAHY

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