It could be revolutionary to gather all kinds of healthcare solutions onto one online platform, and WeDoctor is trying to issue this revolution. WeDoctor valued at US$5.5 billion after its latest round of fundraising, and it was actively preparing for a flotation in Hong Kong, despite the recent bearish sentiment in the market.
More importantly, these online technology platforms focusing healthcare, like WeDoctor, could tap the pinpoints of China’s 1.4 billion population and will be acknowledged and rewarded by the market.
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WeDoctor A personal online medical service
Some people hate to go to see a doctor in China probably on account of disappointing medical or hospital experience, and they want it to be individual-oriented and precise. Luckily it is practiced by WeDoctor, one of China’s most richly valued online health outfits, in an ambitious quest to upend the business of personal care. It will directly target to the individual who resorts to it.
WeDoctor is backed by one of influential tech giants in China, Tencent Holdings. Unlike the online medical services powered by another tech giant in the world Google, WeDoctor prefers to make the services more pragmatic, such as making money by unclogging bottlenecks in a Chinese health care market slated to hit $1.2 trillion by 2020.
The company now provides health care support services to more than 2,700 hospitals, 240,000 doctors and 160 million platform users in China.
WeDoctor can provide intelligent services
WeDoctor also can provide Q&A service, a function that helps sufferers ask questions and reward the best answers. It is also combined with latest AI technology, helping detect ailments like cervical cancer. It sells an Amazon Echo-like $600 speaker for the home that can link to fitness wearables and doubles as a doctors’ hotline.
AI doctors seem like almighty, but they won’t replace doctors. Despite of this, it is more important that AI doctors will become an important tool for doctors and help improve their efficiency and accuracy.
Through the internet and AI, China’s health care services will improve significantly in the next five to 10 years. Once a scrappy startup that helped people book doctors, it’s grown into an outfit valued at $5.5 billion that operates online follow-up consultations, drug prescriptions and actual clinics staffed by physicians.
WeDoctor can gather the tons of useful information into a center database which really can be utilized by many users. The company can profile users, classifying them in buckets based on age, gender, region or symptoms. That’s a potent advertising aid to drug makers and insurers, and the personal information will not be shared with the third party.
WeDoctor is better and more convenient healthcare
One of the reasons that WeDoctor could become a big business in China is because of the sheer demand for better and more convenient health care treatment.
WeChat exactly meets the requirement of citizens from the bottom of the heart. Citizens always want the procedure could be simpler and more convenient, and the treatment is better and really suits their situations.
A better way to save money and maximize the profit
WeDoctor paves a way that cutting unnecessary procedures and expanses. it may levy an additional cost on patients – the price of cutting through red tape and wait times at government clinics.
It is obvious that this industry is still in the very early stage but with tremendous potential. Internet companies have advantage in their online user traffic. Offline players, either supported by financial institutions or other conglomerates, have edges in their offline distribution and offline medical resources. Hence it is more like a ‘winner takes all’ business.
Transparency is the key
It’s very cost-effective that the drug companies can target easily just by doing a campaign with WeDocotor. However WeDoctor also takes a cut on consultation fees via its app or smart speaker.
Due to more and more scandals in the industry of food or drugs in China, Chinese people usually will think twice about the purchase. The transparency seems the most sincere or useful move to win the users back and set a good e-reputation.
WeDoctor gains itself a bright expectation
It is inevitable to enlarge the business when it is booming. In March, WeDoctor opened a clinic in Hangzhou. The 2,500-square-meter center houses pediatricians, ophthalmologists and a CT scanner. It plans at least six by the end of the year, including in Beijing and Nanjing. That’s where backer New World could come in handy: The partners plan to develop clinics in its residential projects across China.
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