Ping An Healthcare and Technology is a healthTech sub company under Ping An Insurance Company. Founded in August 2014 by Wang Tao and based out of Shenzhen, China, their biggest product is the Ping An Good Doctor app, a popular Online-to-offline platform for healthcare services.
About The App- Ping An Good Doctor
Ping An Good Doctor offers a mobile platform for online consultations, hospital referrals, doctors appointments and other health management services. They allow users to interact with medical professionals, hospitals and consultants online to book their services offline. The platform has a vast network of over 3000 hospitals and 7000 pharmacies, serving its registered user base of almost 200 million people.
Ping An Healthcare and Technology -The Relevance
The modern age has seen a drastic transformation of traditional sectors shifting more towards a virtual space. Leveraging innovative technology in digitization, data analytics and communication has allowed many industries to not only progress but also tap into a larger, more diverse user base. Ping An Healthcare and Technology aims to make this transition in the Healthcare sector using their app as their spearhead.
The pandemic has pushed global healthcare to digitize faster, however, it is not the only avenue of progress. In a country like China, where over a quarter of a billion people are over 60 years old, the ageing population requires a robust and capable healthcare system. The Ping An Healthcare And Technology’s app platform disrupts healthcare by changing traditional practices, taking a chunk of the existing workload online.
An innovative Solution
The app, popular as ‘Ping An Good Doctor’ helps to digitize a significant part of the medical process chain, allowing patients and doctors to interact digitally to the extent of their abilities. This service not only reduces the offline interaction and resulting discomfort for patients but also alleviates the structural burden on the hospitals, clinics and other services in the sector.
Overcrowding of the medical system is a real problem and is often due to a large number of minor issues rather than serious diseases. A significant amount of these issues can be treated virtually for the most part, sometimes to the extent of diagnosis and treatment of minor, common diseases. Streamlining via a virtual platform is the best way to lift the burden on the sector, allowing the doctors to prioritize and focus more on serious cases that require attention. In 2020, the company has broadened their focus, changing the App to ‘Ping an Health’, to focus more on health and medical services.
Being the most populated country in the world, the Chinese healthcare system has logistical and structural issues more than anything else. Ping An Healthcare And Technology offers a simple, modern, digital solution to this problem by taking a significant chunk of the workload online. This simple, yet innovative idea has attracted attention from wealthy backers, making the firm one of the frontrunners in the Chinese quest for healthcare innovation.
Ping An Healthcare And Technology has raised $900 million throughout 3 rounds. Their biggest investors are SoftBank Vision Fund and IDG Capital, two firms specializing in finding and backing blooming industry leaders. With the backing of these titans, the firm aims to revolutionize the Chinese Healthcare system into a global leader.