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00:00We have today our guest is Oliver Wang. He is the chairman and CEO of ping on health cloud company. But most notably is your platform polishing which is good doctor in China. How is this changing the patient to doctor relationship in China. Well since we launched the patient good doctor we have for millions and millions of users get a downloadable app get online and they can't find the very good doctors through our app. And with that instead assistance from the doctors and the CAC get free consultations from free free real free consultations. Well this is one of the biggest challenges. How do you monetize it. How do you get revenue. Well that's another story. First we we focus company on the Internet platform. So it's done the traditional way. Yeah. So first we need to get people used to use the internet. Use the mobile technology to get medical help get consultations get connect with the doctors through the online apps and so not only they can get free consultation from our doctors. They can also go to our online pharmacy to get medicine ordered delivered to the outdoors. OK. And also on our app we also have House management programs so they can participate in the online House mentioned programs and interact with the people using our online social house community to interact with each other and also be able to watch the live broadcast programs. But most of them are house their medical related programs and impact with the host. So we offer a lot of good services a strong app. Ultimately is this a way though to get your users to potentially buy life insurance or other insurance policies from paying off. That's the core business of the parent. Actually we are a startup as a separate company and our goal is to capitalize the 0 9 health care sector the market . We are not just to adopt way of paying ise say hello. You know you sure. Right. So that's why we focus on providing the best of online services health care related services to our customers so that the health insurance. It's just you know a partner with us. We are not like a channel for them. It's been a hot sector. I mean thousands or about a thousand different health care apps have launched over the last five years and China backed by some big name bases but not a lot of them have been doing very well. How how are you going to make sure that yours. You've already attracted 120 million users. Sixty thousand doctors two hundred and fifty thousand daily consultants. But again I come back to how are you going to make this viable as a business that others have it. Yeah. You know we build on top of opinions. Big Insurance platform. Of course we will. We won't be able to leverage insurance customers clients and we migrate them to our platform. And so 40 percent of our 120 million came from the existing customers but rest the of them actually are Internet users. So we right now we clearly can see for business models of all CAC. No. The first one is the advertising plus the the Commission and the sales commission from our partners that most of them House their medical providers. The second is we developed the package the service package to sell to the individuals. We sell online and offline . Remember pan group has about 1 million Salesforce and they get Nikkei cross-selling our product right. And the third is we cooperate with the house insurance so we can package our service into the house insurance for every house insurance sale the package our service. So we provide a service to our clients . We also help them control the cost of the control the claims of the the house the insurance and quickly number four. Number four is the. We we also sell this service to B2B customers so to enterprise .

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The Potential of China's Digital Healthcare Sector

Oliver Wang, chairman and chief executive officer at Ping An Good Doctor discusses how his "Good Doctor" platform is changing the patient-doctor relationship in China, how he monetizes his app and his outlook for the sector. He speaks to Bloomberg's Stephen Engle on "Bloomberg Markets" from the JPMorgan Global Technology, Media and Telecom Conference in Hong Kong. (Source: Bloomberg)

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