In the past two years, there have been more and more projects in the field of Internet + primary medical testing. This is because the national medical reform policy is tilting towards the primary medical field, and because capital is paying more and more attention to the projects in this field, it is more willing to invest and accompany the founders waiting for the day when the market is activated.
In order to find out the dilemma faced by the development of enterprises in this field, the preference of capital, and the future development trend, the arterial network specially launched the special report of "Internet + Grassroots Medical Examination", hoping to further reflect the development status of the field. At the same time, companies in this field are also welcome to participate and tell your story. Experts or doctors who have research in this field are also invited to give direction to the development of the industry.
Since the arterial network has focused on primary care, it has been found that testing has always been a relatively weak link in primary care institutions. Although there are large third-party medical inspection agencies in China that help primary medical institutions to deliver samples, they are not covered by the large Chinese market. Especially in the village clinics located in remote mountainous areas, it is the primary medical institution that really needs to solve the inspection problem.
Because these clinics are widely distributed and scattered, the daily sample size is not much. The transportation of specimens is too expensive, so most third-party medical tests are reluctant to go. They are only willing to serve urban primary care with convenient transportation. mechanism.
This is both a pain point in the primary medical field and a direction for medical reform. Some forward-thinking entrepreneurs are willing to devote their time and energy to improving the medical science of primary care. For example, Shenzhen Express Easy Inspection, Hangzhou Yunhu Technology, Fuzhou Medical Bohui and so on.
The emergence of the Internet + seems to make this originally costly industry suddenly become very operational. However, the initial period also requires input costs, such as research and development costs, ground pushing costs, and transportation costs. Compared with the traditional medical testing industry, with the help of Internet tools, the inspection samples of primary medical institutions can be sent out quickly, and the inspection report can be quickly obtained. The whole process can be controlled, and patients can see the doctor at home. .
Regrettably, such corporate financing was difficult at the time. Investors are also hesitant about such new projects. Shouldn't they bet on this track?
Two years later, investment institutions have become more and more popular with such projects, and even investment institutions hope to cast the next "quick and easy inspection." In July this year, Quick and Easy Inspection completed the largest financing in the industry - B round of 100 million yuan financing, led by Nokia Growth Fund ("NGP"), Softbank China joint investment, Chende Capital and investment.
Although the amount of financing is not high compared with other medical fields, it is not easy for a new field to increase the investment of investment institutions from 0 to several hundred million yuan in two years. So what is the reason behind this change? How do investors view the Internet + grassroots medical testing market? What is the future development trend? To this end, the arterial network interviewed investors behind these projects, such as Deng Yuanzhang, managing partner of Nokia Growth Fund, Wu Kai, partner of Softbank China, Wu Jiayu, partner of Chende Capital, Tian Min, partner of Yuanhao Capital, and investment incubator of Shellshe Sarentoya, to understand their views on the field.
In the past two years, the investment institutions have increased their investment funds from 0 to several hundred million yuan.
According to the public data, the arterial network has collected some enterprises that have obtained financing in the field of Internet + primary medical examination in the past two years, as follows:
As you can see in the list, the fastest-growing project is Quick and Easy, and the largest financing in the industry has been obtained in 2 years. Facts have proved that the idea of ​​the quick founder Wang Zheng is correct. He resigned from SF in March 2015, attempting to cut into the primary medical market from the perspective of logistics, using sophisticated logistics and information technology to provide quality medical inspection and related services to help grassroots doctors improve their medical skills and help their brands. Promote, conduct user drainage, improve efficiency, save costs, and increase revenue. After several years of development, the quick and easy inspection team has increased to nearly 1,000 people, of which the front line of business accounts for 80% of the entire company, and the business volume has also increased by 10 times.
Wu Kai said that village doctors are a particularly important part of the entire value chain. Different from the doctor-patient relationship in the city, the village doctors themselves are part of the villagers. They have lived together for generations, and there is a stable relationship between the villagers and the village doctors. When the village doctors on the quick and easy inspection platform are willing to recommend quick and easy medical services to patients, they will open the last pass of the primary medical market.
Deng Yuanzhang believes that Quick and Easy Inspection has solved the bottleneck problem of most rural clinics and sank high-quality medical resources to primary health care. Analogy, this is the same as his initial determination to be a low-end mobile phone. Therefore, “for non-head areas, such as five-tier cities, rural areas, townships and other places, entrepreneurial opportunities are the focus of our investment.â€
Medical Bohui is an organization that specializes in Internet technology as a primary medical service. In the open platform model, we cut into the 927,000 basic medical market, connect patients with medical resources such as hospitals, doctors and third-party laboratories, and open up service demand channels for hospitals and clinics, doctors and patients, and provide a grassroots service. Stationary medical services.
Facing the primary medical institutions, Medical Expo has created two major Internet platform systems - "Clinical Clinic" and "Medical Clinic", with the aim of empowering them.
“Clinic Clinic†has integrated the resources that have been urgently needed by primary medical institutions into primary medical institutions. At present, the platform has formed the following four open functional modules: (1) in vitro diagnosis such as blood delivery, gene delivery, and immediate delivery. Module; (2) referral and consultation module for appointment referral, online consultation, etc.; (3) real-time monitoring module such as smart wearable, family doctor, chronic disease management; (4) drug delivery module for drug delivery to home, drug store, etc. Form a true one-stop primary medical Internet service platform.
“Medical Clinic†is a cloud SAAS management platform suitable for small and medium-sized primary medical institutions. In addition to daily management, “Medical Clinic†is committed to becoming an intelligent diagnostic platform for primary medical institutions, to solve the lack of clinical experience of primary doctors, and to provide the best diagnosis and treatment path for common and frequently-occurring diseases. The relevant person in charge of Medical Expo said that at present, China has More than 20,000 clinics use the “Clinical Clinic†and “Medical Clinic†systems of Medical Expo. The two platforms have covered 17 provinces and cities including Beijing, Fujian, Jiangxi, Hunan, Hubei, Shaanxi, Henan, Hebei, Anhui, and Shandong. There are more than 20,000 registered doctors and more than 600,000 patients.
Yunhu Technology has received tens of millions of financing after six months of establishment. It can be said that the financing speed is the fastest. When the financing was announced at the time, Chen Xiaobing, the founder of Yunhu Technology, said that this round of financing will be mainly used to build business systems, improve product lines and further expand sales channels.
Tian Min believes that Yunhu Technology docks medical laboratories and primary care through specialized service capabilities, systematically reduces the cost of sinking the medical laboratory, and further activates the vitality of the medical test market. At the same time, the cloud call team is from the leading companies in clinical testing and genetics industry, and has an in-depth understanding of the pain points of primary medical care. With the liberalization of the national grassroots clinic policy, Yunqi has the ability to rely on years of experience in the market to help graded medical treatment, empowering grassroots clinics to improve their testing capabilities and product enrichment.
Why invest in Internet + grassroots medical testing?
When talking about the reasons for investment, Tian Min admits that there are several reasons for investing in Yunhu Technology:
First, driven by national policies, the demand for grassroots inspections has increased. From the perspective of policy orientation and market development, the development of various small clinics in China in the past two years has been very good, including the rapid expansion of various specialist clinics and general clinics. At the same time, the policy encourages private forces to participate in the construction and development of clinics to make up for the shortcomings of China's public medical system.
Second, the level of inspection at the grassroots clinic is limited. With the development of these clinics, the lack of testing capacity is a common problem faced by various clinics. Because most clinics have limited investment, it is impossible to invest in inspection laboratories on a large scale. In order to meet the needs of medical treatment, third-party companies are needed to supplement the inspection process.
From the perspective of the entire market, with the continuous construction of grassroots clinics in China and the grading of medical treatment, the number of clinics in primary clinics will increase dramatically in the future. With the continuous development of laboratory medicine, the inspection methods and methods are constantly updated, the level of inspection is continuously improved, and the basic hospitals and clinics do not have comprehensive inspection capabilities, which reflects the necessity of the existence of third-party inspection agencies.
Second, the existing third-party inspection agencies have redundant and wasteful logistics, which has created an opportunity for the development of Yunhu Technology. The format of third-party medical tests has been relatively developed in China. For example, Jinyu and Dean diagnosed from the original third-party laboratories, and now gradually expand to different directions such as genetics, so with the continuous increase of medical care Intensified, third-party inspection agencies have a good market, and the two companies perform well in the capital market. These big companies have also tried to do services in primary clinics. The main problem is that they have conflicts with the market of their existing market, the top three hospitals. Therefore, in the future, there must be a service with grassroots inspection to meet this demand.
In addition, it can be seen from the annual reports of these large companies that their logistics accounts for a very large proportion of the total cost. Because the medical inspection logistics is the logistics of professional medical materials, these large companies are each equipped with a team of thousands of people to provide logistics services for collecting samples at the hospital. However, the alignment of these logistics services is very high, and it is relatively expensive to raise a logistics team. If the third party plays the role of SF in logistics, it can also reduce the redundancy and waste of logistics in the whole industry. If a logistics system can be established through the grassroots and then gradually cover the entire medical system, the value of such a third party is very large, just as Yunhu Technology makes up for such a vacancy.
Fourth, the team of Yunhu Technology has a strong team and strong execution ability. The founder is from the head of the third-party medical testing agency in the medical field, Aide Kang Logistics, who is very clear about medical logistics and team operations. At the same time, his team members are also Ai Dikang, such as the entire IT builder and the entire base team, so his team is very complete. Co-founders also do genetics, because the entire new testing method in the future will be an important part of the company's product richness and service integrity.
After the investment, they have successfully signed up to thousands of clinics, played a role of grafting bridges, made up for the vacancies in the basic inspection services, and then used IT means to link the inspection needs of the clinics. In the future, they can build a very good one. Service platform for third party inspection.
The NGP headed by Deng Yuanzhang is a global venture capital firm with more than $1 billion in capital. He focuses on four major sectors: smart travel, internet of things, healthcare, and education. Although, Quick and Easy Inspection is the first project NGP has invested in China. But from the big health field, it also invested in Yuet Circle and Xiaoxun Technology. Most of the users on the platform of the Yuet Circle are concentrated in the third- and fifth-tier cities, helping users to establish the habit of exercising. The number of users is huge. The NGP investment project also includes my working network. The working network is mostly rural users. They also I hope that my family will be sick or not sick, so these projects can be linked with Quick and Easy Inspection to provide inspection products or other health services to users of these platforms.
Wu Jiayu, a partner of Chende Capital, mentioned that Chen De made an angel round investment in the quick test in 2016. One of the judgments of the investment team at the time was that primary health care services had the potential to grow rapidly. As can be seen from the data, the number of primary medical institutions in China and the employees have reached a high level of coverage at that time, and the extensive coverage of the new rural cooperative medical system has increased the ability to pay at the grassroots level, and the market has not met. Demand is good products and services for primary care institutions.
In micro-logic, Chen De focuses on the reproducibility of business models and the establishment of a single point of profit model? At that time, the Chende investment team and the quick test team ran the market in Fujian and other places, and saw that they have basically achieved breakeven in the mature business area, and there is reason to believe that the future will be able to pass more products and services. Overlay achieves profitability. This thing wants to understand, Chen De decided to invest.
Sarentoya believes that the choice of investing in medical blogs at that time mainly depends on the mature strategic planning, practical service concept and open platform value of TCM.
First, in the strategic planning, the medical blog has long been in the country to encourage Internet + medical before the medical blog has embarked on the road of exploration, and very practical choice of the primary health care module; and the test module medical blog can be said to be The first to connect third-party laboratories with rural medical institutions.
Secondly, in terms of service concept, Medical Expo has always been committed to how to improve the ability of primary health care, rather than simply filling in resource vacancies. Instead, it has invested a great deal of energy in grassroots diagnosis and treatment, and has focused on AI strategy. The current clinical experience of medical care is limited, and the ability to diagnose and treat is limited. It can be said that the medical insurance has greatly accelerated the grading diagnosis and treatment that the country wants to achieve.
Third, in terms of platform value, Medical Expo is put into the market in an open platform and is integrated into the entire primary medical service chain. This platform model not only integrates third-party inspection, hospitals, experts, and logistics services into the platform, but also finds a convenient door for more service organizations that want to involve primary health care, and also allows grassroots medical institutions to open bigger. Field key.
Fourth, in the concept of shell fund investment, Shell Society is the leading innovation and entrepreneurial ecology in the medical and health industry in China. The most important thing for us is the founder and team of the company. The founder of the medical blog is always a continuous entrepreneur, and has accumulated profound knowledge. The company's business operation experience has been explored in the primary medical field, and has a deep understanding of the medical system, and the business model and profit model of Medical Expo have been verified by the team.
Market pattern of existing Internet + primary medical examination
When they get capital-assisted Internet + grassroots medical testing programs, they also step up their distribution across the country.
It is reported that the number of clinics that the company has served in the country has increased from 2,000 to 20,000. The service scope has expanded from the original Guangdong Province and Fujian Province to eight provinces including Sichuan Province, Zhejiang Province and Hunan Province. It has also established its own fleet of cold chain logistics, standardizing the transport process of specimens and gradually building a complete logistics system.
Last year, Medical Expo also focused on launching a cloud clinic management system, “Medical Clinics,†to quickly help all primary clinics to connect to the Internet, and plans to build a comprehensive organic health ecosystem at the grassroots level within two years to improve primary medical services.
Yunhu Technology is also actively exploring development models. It hopes to build an Internet platform for information sharing among the public, medical institutions at all levels, and third-party medical testing institutions by promoting the Internet + health care service model, thereby helping ordinary people to enjoy high-quality medical services on an equal basis. Chen Xiaobing believes that in the medical field, prevention is far greater than treatment. Promoting the spread of genetic testing will enable more people to understand and use genetic testing to prevent disease.
From the current grassroots medical institutions of the Internet + primary medical inspection services, most of them are private clinics, focusing on a single region, and then expanding into a region.
Tian Min introduced that the clinics of Yunhu Science and Technology are distributed in the suburbs and cities, mainly in the regional urban centers. Only when the logistics coverage reaches a certain density can the effective services be provided. Therefore, it is currently centered on Hangzhou, and Zhejiang provides services for regional priorities. In Hangzhou, whether it is urban or suburban clinics, Yunhu Technology will provide services whenever there is demand.
In contrast, the public primary medical institution system, using the platform like Yunhu Technology, is not as strong as private hospitals because their demand for profits and income is not more urgent than that of private medical institutions. "Because of the sinking of the grassroots, we feel that the opportunities in the future are very large." Tian Min added.
At the same time, in decision-making, private primary medical institutions make decisions faster than public primary medical institutions. Because there are not as many reporting processes. Most private medical institutions make decisions that are partial, and the decision-making cycle is relatively short.
And whether public primary care institutions adopt an external platform, this may rise to a regional management unit. This management unit will actually determine the primary health clinics in the district, where they will be procured, and whether third-party inspection services are required. As a result, the company's expanding customers will be more focused on the government than on the clinic operators.
At present, the inspection of public primary medical institutions has not been released, but Tian Min believes that this potential is very large, and it is also the key area for business expansion of these enterprises in the future. From the current point of view, the pursuit of speed can start with private clinics, after all, the number of private clinics is huge; then go to the main government procurement in the grassroots level of public grassroots medical institutions.
Investment agency's help to the project, funds + resources
All along, Yuanxiao Capital focuses on four areas of Internet innovation, consumption upgrading, digital medical care and smart technology.
In response to these four sections, Tian Min hopes that in the relatively traditional field of medical care, using the tools and power of the Internet to incite traditional industries to gain opportunities, she pays more attention to the role of Internet tools.
Therefore, in the medical investment, Tian Min's help to the investment company is capital + resources. She believes that the relationship between the companies investing is very strong, because the core of medical care is nothing more than doctors, institutions and patients, so Yunhu Technology puts the doctors, institutions and patients at the grassroots level on this platform. Subsequent links to the medical insurance-related companies that they invest in, and the sale of certain medical insurance products in the grassroots channels in the future will certainly have synergistic effects.
The core is that Yuanxiao Capital has different medical investment companies at different stages, because medical care is a field that places special emphasis on resource integration.
Deng Yuanzhang hopes to extend its service chain through the good relationship established by the fast-track inspection and primary medical institutions, and to deliver more high-quality medical resources to these institutions. For example, telemedicine , as the infrastructure of the rural market is getting better and better, images and pictures can be returned.
In addition to financial assistance, they will be assisted in many aspects such as team management and channel construction. He believes that with Nokia's endorsement, it is helpful for quick and easy access to local users. The principle is the same as "Love House and Ukrainian".
Wu Jiaxuan believes that in vitro diagnosis is a key investment area of ​​Chende. Chende has been exploring good products and good companies that can meet market pain points in this field. Quick and easy inspection has also established a good cooperative relationship with the enterprises invested by Chende and continuously enriched its product line.
Sarentoya said that the Shell Fund has been focusing on innovative and entrepreneurial services in the field of healthcare , with investment incubation in the areas of precision medicine , in vitro diagnostics, intelligent hardware, and medical data, with the aim of improving synergies between projects. In addition, the shell community ecological resources can provide multi-dimensional support for brand operation, entrepreneurship education, investment and financing docking and medical resources.
Future Internet + grassroots medical tests will become platforms
So what kind of business will this kind of business develop in the future?
For the quick and easy inspection platform, Wu Kai commented: Since the two founders in the background of SF Medical Logistics and FedEx, it initially cut into the grassroots market from the perspective of medical inspection logistics, today it has become a comprehensive service of primary care The platform connects village doctors, villagers, county hospitals, third-party inspection centers, testing and diagnostic companies and even pharmaceutical companies through quick and easy inspection. In the future, it has the potential to become a grassroots information distribution platform.
"In the future, I hope that Medical Expo will develop into the medical industry's 'Alibaba', providing convenient services for doctors on this platform to help patients complete the one-stop medical service of the last mile." Sarentoya added. She believes that from the perspective of population structure, the future primary medical market is a good development direction and a good market. The rural surrounding city is definitely an inevitable trend. In the future, primary care needs an outstanding assistant decision-making system and a primary medical insurance company.
Tian Min also believes that Internet + grassroots medical testing will eventually become a platform. Take Yunhu Technology as an example. It connects clinics and primary medical institutions that do not have their own testing capabilities, and connects hundreds of third-party medical testing centers on the other.
In fact, the concentration of third-party medical testing centers in China is still relatively low, including Jinyu Medical, Aidi Kang, and Dean Diagnostics. The number of laboratories in these large companies accounts for only about 10% of the entire market, and more Whether it is a single body testing center or a very small chain.
Smaller third-party medical testing organizations like these have technical advantages in a product, but their sales channels are not very strong. At this time, Yunhu Technology plays a role in this field, in order to deliver better products to small medical units such as grassroots and clinics. This is also a business product expansion service for the cloud call technology platform.
At the clinic, they can use their products on the mobile side of each clinic, such as mobile apps, to enable doctors to view test reports online. Because Yunhu Technology has a good module for clinic inspection, and the grassroots clinic's own IT system is relatively weak, even without a complete inspection module, it will provide a complete inspection module to the primary clinic and pass the doctor's mobile phone. Or the computer starts this module, completes a series of actions such as the delivery, inspection, and return of the whole sample, so it does not require the clinic itself to have strong IT capabilities.
For start-ups, it is impossible for him to do a lot of business model exploration with limited resources and money. The first step is to cut into more clinics by testing this relatively just-needed product and service to cover more areas. This is the first step. In addition to taking on the role of logistics in the future, a big role is to extend the good products of the third-party testing institutions that are connected to it to the clinic. This is a core function, including which clinics choose which products to use. It is also the scope of their business. When the entire logistics network and the downstream clinic network are fully established, there must be other additional services that can be connected to the network, but it has not yet reached that point.
When talking about the future planning, she believes that Yunhu Technology may develop into a later business model and will change. At present, this B2B business model is profitable and the demand will continue to grow. "Our hope for it is that it can become China's largest service platform for third-party testing, service infrastructure and clinics. Other services may be extended on this platform, and the future testing will continue to deepen. For example, genetic diagnosis, or the advantages of using products and offline logistics, may expand the detection of to C."
In the future, for third-party medical testing institutions, it may still be based on the B-end. Tian Min believes that the true to C in the medical industry is actually a false proposition. Because whether it is a hemodialysis center or other institutions, the customer channel is the hospital. From the patient's point of view, the current chain of trust still tends to large hospitals and doctors. If the big hospital and the doctor recommend him to go to do the hemodialysis, the patient will be more willing to go, not as free as choosing a supermarket or a restaurant. Therefore, she believes that the so-called to C companies, in terms of the customer's point of view, still have to be closely tied to the big hospitals and the mechanism of customer referrals, in order to ensure that these centers can operate very well. From this point of view, it is actually to B, all around how to flow patients into their institutions from large hospitals, this is a relatively large core competitiveness.
At the same time, the state also promotes third-party medical services, and private power will gradually take over. The difference is reflected in the construction of the center by means of heavy assets investment, or in the form of light technology, such as the AI ​​technology used in the image center.
Because of this, most investment institutions are also paying attention to this piece. For start-ups, the service model is still to B, that is, how to serve the follow-up services of patients from these large hospitals, including rehabilitation and chronic disease management. It is only who can retain the patient, which may depend on the quality of the service and the ability of the service.
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