After Ping An joined Founder, the first son settled on high-end health management The Chinese version of the "joint health" model is gradually becoming clear

Since July 5, Ping An of China issued an announcement that the restructuring plan of Founder Group has been approved by the court and taken effect, and Ping An has officially joined Founder for nearly four months.

Since this acquisition was officially exposed, it has been attracting market attention. Under the upper planning of Ping An Insurance + Medical, the acquisition of Founder is undoubtedly an important puzzle to complete the resources of the ecological closed-loop offline hospitals, but how to integrate resources and empower insurance after the acquisition, the market has been waiting for a safe landing.

On October 28, Ping An's first batch of high-end health management centers were established in Beijing and Shenzhen, and it is reported that the two high-end health management centers will rely on medical resources such as Peking University International Hospital and Ping An Longhua Hospital to provide customers with full closed-loop health management services such as prevention, medical treatment and rehabilitation, which is also the first big move after Ping An joined Founder Group.

Gao Guolan, executive team leader of the Working Group of Peking University International Hospital, pointed out that the positioning of the high-end health management center established this time is very clear, one is to empower insurance, to provide scenarios for the sales and services of Ping An Life Insurance, and the other is to provide different levels of health management services for Ping An Life Insurance customers. She explained that whether it is health insurance or medical insurance, the ultimate harm is to come to the physical hospital, through the diagnosis and treatment services of online Ping An Good Doctor, and offline large-scale general hospitals and health management institutions, through the combination of online + offline, to create an ecological closed loop of finance + insurance, insurance + medical treatment, insurance + health.

Hu Tingzhou, Chief Product Officer of Ping An Life, pointed out that by referring to the model of Caissa Medical and Joint Health, Ping An noted that the two major business segments of insurance and medical care can be independent of each other but promote each other, protect each other, and produce a very obvious synergy, which is the original intention of Ping An's "insurance + medical" to achieve, through the synergy between the two major sectors, to enhance the ability and quality of Ping An's services in the field of health insurance, and expand the business scope and customer base of Ping An Life. Although China and the United States have differences in policies, economy, culture and environment, the multi-win situation of insurance payers, service providers, and customers and patients is the same, and Ping An will continue to innovate to create a Chinese version of "joint health".

<h4>Ping An's medical insurance closed loop Space geometry? </h4>

Zhou Yanli, former vice chairman of the Insurance Regulatory Commission, once pointed out that China's commercial health insurance maintains an average annual growth rate of 30%, showing a trend of integration and development with the upstream and downstream institutions of the large health industry chain such as medical treatment, health management, pension and nursing. Insurance institutions have now become investors in the health industry, payers for medical services, and participants in the prevention and management of major diseases.

Cao Deyun, executive vice president of the China Insurance Asset Management Association, also said that whether it is from the development requirements of China's insurance industry itself or from the development experience of mature markets, insurance funds will increase their investment in the medical, pension and health industries, and the deep integration of insurance and big health industries will be a long-term trend.

The layout of medical and even the field of big health is the unanimous choice of head insurance companies in recent years, especially Ping An, Taikang, Chinese Life has attracted the most attention. However, from the perspective of path selection, each family plays differently.

Specifically, Taikang's initial entry point is in the pension, through the offline asset-heavy "insurance + pension" model, to create the "Taikang Home" pension brand, in recent years, it has further proposed "medical and nursing integration", began to lay out offline medical resources, relying on offline service entities, trying to get out of a "insurance + medical" integration development path.

Chinese Life also actively lays out the in-depth layout of the medical and health industry chain, and the related enterprises invested include BGI Gene, Mindray Medical, WuXi App AppTec, Innovent Biologics and other leading enterprises in the industrial chain. Its reinsurance company has formed a comprehensive strategic partnership with Magnesium Health.

In contrast, Ping An emphasizes the concept of ecology and is committed to building a medical ecosystem. After years of development, Ping An has mastered the largest Internet medical traffic entrance and has the leading medical technology strength. It is understood that the Ping An medical ecosystem has begun to emerge, forming a co-construction system of 12 sub-member units. Among them, Ping An Smart Medical Services government side, Ping An Good Doctor occupies the user and online medical service end, Ping An Smart Medical occupies the offline medical service end, Ping An Life, Ping An Pension Insurance, Ping An Medical Insurance Technology, Ping An Health Insurance Service Payment Side, Ping An Medical Technology Research Institute, etc. provide technical research support. The Ping An medical ecosystem includes a number of "online + offline" medical and health-related companies, and their businesses are effectively complementary.

After Ping An's acquisition of Founder, Ping An's senior management has repeatedly proposed to build a Chinese version of "joint health". What is the upgrade of this model?

According to the 21st Century Business Herald reporter, looking back at the development process of United Health for more than 40 years, after United Health has developed into an important underwriter of health insurance, it has used the identity advantage of medical service payers to become the builder and leader of the new medical service network, and finally achieved the commercial closed loop of health insurance + medical services. Today, United Health has formed two major business architectures around its business model, namely the UnitedHealthcare platform centered on health insurance and the Optum platform with health services as the core. Under this model, United Health has become a giant with an annual revenue of $240 billion.

Wang Guojun, assistant dean of the School of Insurance at the University of International Business and Economics, further analyzed the joint health model, pointing out that the United Health Group in the United States is doing both insurance industry and health management services. For example, if you have diabetes, medical insurance is not insured. But allied health can still be integrated into the insurance system. Insurance companies reduce diabetes complications through their own strong health management, such as sports, leisure, nutrition and medicine.

Wang Guojun said that with reference to the experience of the United States, there are two main paths to achieve the "insurance + health" model, one is to have medical institutions, excellent insurance companies have online and offline medical institutions to support; the other is the scientific and technological health risk management, Ping An of China and Peking University International Hospital to achieve two paths into one.

Under the theoretical model, the market also noticed that United Health is facing a situation of rising costs and pressure on profits, and its premium income is mainly used in medical services. How to break through the drawbacks of the traditional joint health model?

Wang Guojun pointed out that from the perspective of the revenue composition of United Health, health management revenue accounts for less than 50%, and the profit margin of insurance business is higher. The working model of Joint Health is similar to Buffett's Berkshire Hathaway. Buffett makes a strong investment by charging insurance premiums, so a virtuous circle is formed: the investment income is good, the premium is cheap, and the insurance service is good, so that more people buy insurance. Similarly, if health management is strong, it will also form a positive cycle: insurance companies risk health well and collect low-risk premiums.

But United Health was also in a loss-making position at the beginning, because the investment in the medical service segment was huge, but the trend and direction of this model is correct. Once this model works, the power of insurers will be revealed. The goal of insurance companies is not to sell insurance, but to really solve people's health problems. Insurance + medical care, especially the all-round health risk management scheme of science and technology, is the key to solving the problem of people's medical security in the context of aging, and also the key to solving the contradiction between medicine and doctors and patients.

<h4>Starting from high-end health management, we will create a new species of insurance + medical treatment</h4>

Undoubtedly, in the construction of Ping An's Chinese version of the joint health model, the acquirer is an important link, but after Ping An's acquisition of Founder, why are the first two high-end health management centers in Beijing and Shenzhen? What is so special about these two offline agencies?

Gao Guolan introduced that the high-end health management center built by Ping An has the biggest advantage over other independent health examination centers in that it has the support of a huge offline hospital. Therefore, after the health examination, the customer can register and treat the disease most quickly, and if it involves hospitalization, it can also be green passed, without the need to cooperate with other hospitals, which will greatly improve the efficiency. For health and chronic disease users, they can also carry out targeted health and exercise guidance through the doctors of the health management center, and if necessary, they can review and adjust drugs, which can be completed in the closed loop.

Gao Guolan further pointed out that in order to better coordinate with life insurance, although Ping An will not directly participate in the operation of the hospital, the life insurance and health insurance teams have also been stationed in the hospital, and the doctor team has set up a medical and insurance collaborative joint project team to better provide accurate medical services for insurance customers. In the future, insurance will be combined with more high-quality medical resources offline, such as specialties and featured experts, which will be integrated into the products, so as to make insurance products more service-oriented.

According to the 21st Century Business Herald reporter, in Ping An's future planning, by building the two high-end health management centers in Beijing and Shenzhen into flagship stores, the effect of point-by-point and face-to-face is formed, and after the model matures, the experience of the two flagship stores is first covered to other first-tier cities in China, and then the provincial coverage is achieved, and the service is regional linkage.

In addition, Gao Guolan pointed out that Ping An will further deepen the coverage of the refined market to second- and third-tier cities in the future, do a good job in the breadth and depth of services, realize the combination of multi-scenario insurance and health management, and make a Chinese version of the joint health model with Ping An characteristics.

The reason why he chose to start from high-end health management, Wang Guojun pointed out that the beginning of high-end medical treatment was because both sides of high-end medical treatment had the resources to do a good job. Of course, medical + insurance + health management is suitable for every ordinary person, and the experience, technology, capabilities, cases and the entire system accumulated in high-end medical care can be used in the general public. Therefore, high-end medical care has taken the lead in development, and other services will gradually keep up.

Hu Tingzhou also pointed out that from the perspective of Ping An's entire product system, through the power of the entire Ping An medical ecosystem, including the self-built medical team of more than 2,000 people, the cooperation system of 38,000 doctors, as well as the new elements and two hospitals of Peking University International, the high-end medical, mid-end medical and puke medical care have a full range of product coverage. But there is no doubt that high-end customers are one of Ping An's key customer groups, and the current penetration rate of the insurance industry is less than 13%, which means huge growth space for most insurance companies.

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