New dilemma of Internet medical business model: medical insurance can not form a closed loop

Recently, Founder Securities released an industry report on “Business Insurance Opens the Internet Medical Business Model Closed Loop”, which provides a constructive view from the perspective of medical reform and medical big data to break the current dilemma of the Internet medical business model. The essence of medical care is generated by both the core supply and demand sides.

The medical services market is a huge ecosystem with participants, including patients, hospitals, doctors, pharmaceutical companies, insurance and government. The relationship is complex. From the perspective of supply and demand, patients and insurance are in the demand side of the medical service market, in which patients are the core demanders of medical services, insurance is the auxiliary demand side; hospitals, doctors, and pharmaceutical companies are in the supply end of the medical service market, which provides The hospitals and doctors of medical services are the core suppliers of medical services, and the pharmaceutical companies that provide drugs belong to the auxiliary suppliers. The essential relationship in the health care ecosystem is the relationship between core demand side patients and core donor hospitals and doctors.

Figure 1: The nature of medical care is generated by both the core supply and demand sides

Internet medical business model: services and patients, doctors, hospitals

Chinese society is experiencing a wave of Internetization. Throughout the history of Internet development, it has repeatedly subverted the fields of paper media, communication, retail, tourism and other industries. Its core veins are infiltrated into industries with low efficiency, multiple pain points, large space and long tail characteristics from easy to difficult. China's medical service industry is an industry with large space, low efficiency, multiple pain points and long tail characteristics. The Internet + medical development potential is huge.

From the perspective of service targets, the three core elements of the medical service ecosystem—patients, doctors, and hospitals—are formed into three main types of Internet medical business models, namely, Internet medical services for patients and Internet medical services for doctors. And Internet medical services that serve the hospital.

â–  Internet medical services for patients

Patients are at the heart of the entire Internet healthcare service chain. The business model for charging patients is based on meeting the patient's needs. The patient's immediate needs can be dismantled from the entire medical treatment process, and there are many entry points for the fee. There are pain points in each of the 9 links of medical health services. The specific ways of charging consumers can be roughly divided into: hardware sales mode and software service mode.

Hardware sales model: Jawbone, Fitbit, å’•å’š bracelet, etc. with health management as the main function, iHealth, music, etc. with the main function of chronic disease monitoring and management all have the profit model of hardware sales. However, the hardware sales model faces challenges in the long-term development: first, after the penetration rate is increased, the update demand is non-rigid; because there are other potential derivative profit models that can be used to subsidize the hardware, it is judged that the hardware price will continue to decline in the long run. The hardware sales itself is more reflected in the user access function, and its own profitability is difficult to sustain.

Software service model: a model in which basic services are free (for traffic and viscous), medical guidance services, and value-added services. The specific charging strategy is more flexible. However, due to the adverse consequences caused by the bidding ranking, the development prospects of the same guiding medical service charging model are worrying. With the inevitable trend of family doctors, the guiding function of the medical guidance will be gradually transferred to the family doctor. . The value-added service charging model, under the premise of doctors' non-free practice, the value of the services provided by online consultation is limited, and it is difficult to form a market. When the software service model is embedded in a medical institution diagnostic service or a family doctor remote service. May open up market space.

Community mode: This mode is still being explored, but it can be used to determine the trend.

Figure 2: Internet medical business model: serving patients

â–  Internet medical services for doctors

The basis for the doctor's fee model is to meet the doctor's core demands. The doctor's core appeals include increasing legal income, increasing individual brand awareness, publishing more papers, rating higher titles, and reducing workload. The entry points for doctors' fees mainly include supplementary medical treatment and appointment platform. The former has a continuous demand, and the latter will have more room for development based on the advancement of doctors' practice.

The specific charging method for companies that currently charge doctors is mainly the membership fee. In the United States, doctors practice independently and have relatively free consultation. Therefore, doctors' profit models are very diverse. Diversion, diagnosis, post-diagnosis, medication, and equipment can all be profitable entry points. The Chinese medical system has many restrictions on doctors. The doctor's profit model is limited to the level of auxiliary diagnostic drugs and doctors' communication. The mode of booking platform fees is currently developing better, but there are policy risks, and the future development is not optimistic.

Figure 3: Internet medical business model: serving doctors

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Henan Anbang Medical Supplies Co., Ltd. , https://www.anbangmedical.com