格隆汇“金格奖”揭晓，平安好医生（01833.HK）获评“年度卓越医疗健康企业”

Core Viewpoint - Ping An Good Doctor has been awarded the "Annual Outstanding Healthcare Enterprise," reflecting market recognition of its innovative "China-style Managed Care Organization (HMO)" model and its future potential [1][11]. Group 1: Strategic Positioning - Unlike many industry players focusing on drug e-commerce or light online consultations, Ping An Good Doctor has positioned itself as a builder of the China-style HMO, drawing on global benchmarks like UnitedHealth's "insurance payment + medical services" model [2]. - The company's business model has shifted from "post-reimbursement" to "full-cycle health management," aiming for a win-win scenario of "health preservation and cost control" through deep integration of payment and services [2]. Group 2: Technological Empowerment - Ping An Good Doctor integrates AI deeply into its services, utilizing its self-developed medical model "Ping An Yibo Tong" to create a comprehensive "7+N+1" AI product matrix, enhancing service quality and efficiency [3]. - The application of AI has led to significant improvements, with the accuracy of complex disease treatment plans reaching nearly 90% and the average service cost per family doctor decreasing by approximately 52% year-on-year [3]. Group 3: Ecosystem and Market Reach - The company has established a robust ecosystem supported by Ping An Group, offering seamless services across various channels, including online consultations, hospital partnerships, and home healthcare [4]. - It has provided comprehensive health management services to over 56,000 enterprises and 26 million employees, creating a health revenue structure centered on professional medical services [4]. Group 4: Future Growth Potential - The award signifies market validation of Ping An Good Doctor's approach, with a clear focus on two emerging markets: commercial health insurance and corporate health management [6]. - The commercial health insurance market in China, currently under 3%, presents significant growth potential, especially as the demand for quality healthcare rises amid an aging population [6][7]. - The company's strategy aims to leverage its internal capabilities to expand into external markets, potentially providing health management solutions to government healthcare systems [8]. Group 5: Market Valuation and Comparison - The current market valuation of Ping An Good Doctor, approximately 28.3 billion RMB, indicates substantial potential for long-term value reassessment, especially when compared to UnitedHealth Group's peak market value of around 4 trillion RMB [9]. - Recent optimistic forecasts from international investment banks reflect confidence in the scalability of its "China-style HMO" model, suggesting a shift in valuation logic from traditional internet platforms to more sustainable managed healthcare service platforms [9].