In the first half this year, the Covid-19 pandemic broke out suddenly, while tele-medical, online diagnosis and treatment services are playing a huge role, the public's online medical habits have also been cultivated by the market, and Internet medical treatment has ushered in important development opportunities.
Relevant data shows that since the beginning of this year, the share price of Ali Health has increased by nearly 133%, the current market value exceeds HK$270 billion, and the scale has expanded by more than HK$150 billion from the beginning of the year. JD Health disclosed in 2019 that in only three years, JD Pharmacy’s revenue exceeded the four major drug retail chain listed companies; in June this year, Tencent participated in the fixed increase of funds raised by the pharmaceutical retail giant LBX Pharmacy, which has attracted industrial attention.
The Internet medical industry is booming, and major giants have entered the game. However, there’re still concerns on Internet medical services about safety supervision, and also the pain points of business profit model singleness and insufficient online and offline infrastructure.
Security is still limited, online medical treatment can only be used for follow-up consultation
According to incomplete statistics, since January 2020, a total of more than 100 Internet hospitals have been approved or built online. At the same time, medical insurance payments are quickly in place. The interconnection of a series of processes such as Internet follow-up prescriptions, medical insurance payment, and drug delivery provides convenience for patients with chronic diseases to continue prescriptions.
However, as the industry goes wider and deeper, the online medical consultation business increases, drug orders increase, and medical insurance payment coverage expands, among them, safety supervision becomes more important and more complicated. The development of any industry does not happen overnight, especially in areas require strong supervision such as medical care. Online consultation is limited to follow-up consultations, which is precisely due to various safety and regulatory considerations.
Profit model singleness
In 2019, Ping An Good Doctor’s annual revenue was 5.065 billion yuan, and the health mall business accounted for 57.3%. In addition to medicines and health products, consumer products such as wine and meat are also on the mall page; in fiscal year 2020, Ali Health’s revenue is 9.6 billion Yuan, pharmaceutical self-operated and e-commerce platform businesses accounted for 97% of the total.
In addition, the financial report data of Ping An Good Doctor and Ali Health also show that the cash cow business with the highest revenue share is pharmaceutical e-commerce. It is not difficult to see that, despite the rapid growth in traffic and flexible pricing of online services based on online medical consultation, the volume is still limited.
At present, Internet medical services still have a profit model singleness problem, the B-end connects online and offline, and the C-end diversified services are extremely cash-burning. This is both pressure and opportunity for Internet medical service companies.
▲Horion Interactive Flat Panel digital medical solution
1) Internet medical infrastructure construction
2) Regulatory safety
3) Combination of online and offline
4) Integrate the industrial chain to build a comprehensive ecosystem
Break through the Internet medical infrastructure construction
Horion Interactive Flat Panel digital medical solution
The layout of the Internet industry requires a combination of online and offline, which is a comprehensive solution involving capital, the Internet, pharmaceutical companies, hospital doctors, patients and other parties.
In traditional offline medical treatment, when you arrive at the hospital, you need to switch back and forth between registration, payment, medical treatment, and picking up the medicine. Internet solutions can solve the problem of slow information transmission and low efficiency, but require modern intelligent equipment and other infrastructure as the foundation.
Horion Interactive Flat Panel can construct a multi-scenario information transmission and display solution through splicing screens and independent Interactive Flat Panels of different sizes, and build a whole systematic solution for Internet medical treatment.
Information display port: through terminal system management, the nurse station, waiting area, information display area, etc. It can realize the information interconnection of multiple scenarios and improve the efficiency of information transmission. For example, in the registration area, you can register manually or online with the help of the client terminal of Horion Interactive Flat Panel. After the registration is successful, the queue information in the waiting area will be displayed online on the large screen.
Remote consultation: with the help of the video conferencing service of Horion Interactive Flat Panel, doctors can provide follow-up services to patients and save time for follow-up visits to the hospital. At the same time, in special times, it can also realize remote medical assistance, and remote medical teams can communicate treatment plans.
▲Horion Interactive Flat Panel digital medical remote consultation solution
Operation and settlement services: after the doctor’s treatment, the traditional process is to check and take the medicine after payment. Through the full-scenario solution of Horion Interactive Flat Panel, the doctor can directly prescribe the medicine on the big screen through the terminal app and arrange the examination for the project, patients can pay directly through the system background to realize a paperless office and save case information to the customer's mobile terminal.
Mobile medical insurance health services: by building a digital medical health service mobile service vehicle, services such as online appointments, on-site consultations, and remote medical support can be realized to support medical services in communities or remote areas.
▲Horion Interactive Flat Panel digital medical health service vehicle solution
Regulatory security: information can be traced back to the source, step by step
Take the "Internet + medical insurance" service model recently launched by the Qingdao Municipal Medical Insurance Bureau as an example. This model is jointly built with a third-party prescription circulation service platform for easy follow-up diagnosis. Its core is to ensure the authenticity of prescriptions. At present, this model has been implemented in Qingdao Municipal Hospital Internet Hospital.
This method relies on the easy follow-up diagnosis third-party prescription circulation service platform to connect the information islands between medical care, medicine, and medical insurance. While ensuring the safety of patients' medication, it realizes the traceability of information flow, logistics, and capital flow to ensure the safely use of medical insurance funds.
At present, the Internet medical industry as a whole is still in its infancy. The issue of "first diagnosis" may not be finalized in the short term, but what is certain is that any industry has a gradual process. Problems arise, problems are solved, and the industry continues to move forward.
Combine online and offline, integrate overall strategy
The current profit model of Internet medical care is mainly concentrated on the sales of pharmaceutical products. Internet consultations still account for only a small part of the rapid growth despite the fact that safety supervision is not completely stable. An important part of breaking through the predicament is to break through offline and online restrictions and integrate resources.
For example, when seeing a doctor online, patients can freely choose expert resources from all over the country, through online consultation, diagnosis and testing can be carried out in the nearest hospital. During the follow-up visit, drugs can be purchased directly from the nearest pharmacy. Obviously, the resources controlled by the current model are still in the traditional e-commerce model.
Achieving new breakthroughs requires capital intervention, integrating online and offline resources, and building a comprehensive operating system among hospitals, doctors, pharmacies, pharmaceutical companies, and platforms.
Conclusion: the pandemic has cultivated the user habit of online medical consultation, Internet medical care has fallen into a period of rapid growth, major giants have entered the market, the trillion-level market is expected in the future. The current vitality of Internet medical care has not been fully released, digital infrastructure construction, online supervision, online and offline resource integration are all development obstacles that need to be resolved urgently. Horion Interactive Flat Panel's system-wide Internet medical solution based on medical scenarios will accelerate the construction of Internet medical infrastructure and help the Internet medical situation to make a progress.