“China actually is a consumers play with mostly self-pay market. People have a universal coverage but a very limited one, so they have to pay for it”
Sébastien GAUDIN - Co-Founder & CEO The Care Voice, StartupCare
"VC have paid a lot for the boom of digital health in China
There’s a strong shift to private offering, and health insurance, via its digitization, adopted by more employers for retention
There have been 3 waves of health insurance digitization
-2016-17: Mobile, mostly around Claim (via WeChat, or native apps (PingAn))
-2018-20: Customer Digital Healthcare Journey
-From 2020: Integrated & unified personalized journey
What’s coming next is: addressing the gap in terms of fragmented ecosystems. How to connect the dots between services from different players via data integration, for more tailored propositions .
Then the distribution, which is disruptive in China
-Online brokers, to sell insurance, and “acquiring” offline resources to broaden customer access
-Tech driven brokers and insurectech players designing and operating products
-Reinsurers (rather far from customers), are leapfrogging to face final customers and stepping into direct sales"
“We’re undertaking the greatest transformation shift like nowhere else in the World, and that is a transition to Universal healthcare”
Martin CHEN - PRESIDENT Tencent Trusted Doctors
"What you are seeing right now in China is the emergence of universal healthcare in the public sector, and the opening up of a new generation of healthcare providers in the private sector.
If you look at the Coronavirus, one of the first thing they (Government) implemented is a guarantee. Everybody had free healthcare in China before Covid-19
At Tencent Trusted Doctors (TTD), we have 3 main areas of innovation
-Physician Private Practice: we build an online/offline integrated model, working with 100 physician groups
-Technology Driven Healthcare: we extend care not only through online&offline presences, but also through plans such as Vending Machines, Self-Diagnostics, Health Kiosks, Future Clinic.
-Family Medicine: we believe it’s going to be an important part, but China is not there yet. We propose a Guide for our patients to navigate healthcare".
>What is Tencent Trusted Doctors: watch 18’30” > 26’40”
Conclusion: Trends shaping the future of Healthcare
Sebastien GAUDIN: “I'd pick up two: Tailored health plans. Ability to understand different risks. Tech-enabled Smart Channels: sport enthusiasts in gym centers...“
Xavier VEYRY: “4 trends: AI towards personalized health and medical solution. Lifestyle management (strong in China/Asia, will come to the West). Mental health. Home Sweet Home as the new hospital, for chronic critical and elderly care management”
Martin SHEN: "I think there are three things that are going to drive the trends in healthcare: Universal healthcare, new models of healthcare delivery and private insurance”