Ping An Good reports rapid growth of users in China

China’s biggest online health care platform, Ping An Good reports monthly active users reached 54.7 million, representing an increase of 85.4%, in its first annual results since listing. While also posting a loss on revenues, the group states that its one-stop healthcare service model is effective. Their plan is to be a globally influential internet healthcare platform.

Ping An Good has posted a loss of Rmb913 million (US$136.7 million) on revenues that climbed 78.7% to Rmb3.3 billion. Its family doctor services business, the core business segment of the company, achieved strong performance and grew 69.6% to Rmb411 million, while monthly paying users rose 86.2% to 2.36 million. Monthly active users reached 54.7 million, representing an increase of 85.4%.

In the family doctor business, the group’s AI-assisted in-house medical team and external doctors provide users with one-stop services, including online consultation, referral, registration, hospitalization, second diagnosis and one-hour drug delivery. “The one-stop service has greatly lowered the threshold for users seeking medical treatment, supported the tiered diagnosis and treatment which is encouraged by the government, and helped realise the cost-effective control of the medical system, reducing the burden on hospitals and society,” the group said in a statement.

It added that thanks to the improvement of the AI-assisted medical system and optimisation of the operation of the in-house medical team, the daily average number of consultations reached 535,000 at the end of the last year – a year-on-year increase of 45.4% – and that it maintained a 98% user satisfaction rate.

“We will continue to provide users with quality medical and healthcare services with the combination of Internet, AI and our one-stop, online/offline healthcare platform, and build Ping An Good Doctor into a globally influential internet healthcare platform,” said chairman and CEO Wang Tao.

The group has an in-house medical team of 1,196 staff members and 5,203 contracted external doctors (associated chief physicians or above at Grade III 3A hospitals), while its 1-hour drug delivery network covers 86 cities across China. Ping An’s healthcare provider network covers nearly 400 traditional Chinese medicine clinics, over 1,300 check-up centres, over 1,200 dental clinics and over 120 medical beauty clinics.

Backed by Ping An Insurance Group Co of China, Ping An Good Doctor raised US$1.12 billion in its Hong Kong IPO last year.