China’s one-stop healthcare ecosystem platform, Ping An Good Doctor, yesterday announced its first annual results since listing: the company recorded a revenue of RMB 3.34 billion, representing a year-on-year increase of 78.7%. The three key indicators of the company – registered users, monthly active users (MAU) and monthly paying users (MPU) continued to grow at a rapid rate in 2018.
As of December 31, 2018, the number of registered users of the Company reached 265 million, with an increase of 72.4 million year-on-year; MAU reached 54.7 million, representing an increase of 85.4%; MPU reached 2.36 million, representing an increase of 86.2%. The annual average conversion rate of MPU increased from 2.7% to 3.6%.
Key statistics for 2018
At the end of 2018, Ping An Good Doctor had:
- 1,196 medical personnel in its in-house medical team and also signed contracts with 5,203 renowned external doctors
- Partnered with over 3,000 hospitals and over 15,000 pharmacies
- Entered 86 cities with its one-hour drug delivery service with an increase of 72 cities from the end of 2017
- Approximately 1,500 additional institutions in its medical and healthcare network compared with the end of 2017
- Partnered with nearly 400 traditional Chinese medicine clinics, more than 1,300 physical examination centres, more than 1,200 dental clinics and 120 medical beauty clinics, and nearly 47,000 clinics using the Wanjia cloud clinic system.
Growth of core business and data collection
The family doctor service sector, the core business of Ping An Good Doctor, achieved rapid growth in 2018 and recorded a revenue of RMB 411 million, representing a year-on-year increase of 69.6%. As of December 31, 2018, the company also accumulated nearly 410 million pieces of consultation data, covering several aspects of healthcare such as user consultation, drug purchase and health management, eventually generating 35,000 labels for various diseases.
Due to the improvement of the AI-assisted medical system and optimisation of the operations of the in-house medical team, the daily average number of consultations reached 535,000 as of December 31, 2018, a year-on-year increase of 45.4%, maintaining a 98% user satisfaction rate.
In January 2019, Ping An Good Doctor launched its One-minute Clinics across 8 provinces and cities in China and signed service contracts for nearly 1,000 units, providing healthcare services to more than 3 million users.
As part of its internationalisation efforts, the company signed a Memorandum of Understanding (MoU) with Thailand’s Bangkok Dusit Medical Services (BDMS) in November last year.