The 4th China Healthcare Industry Summit: Reform from Scale to Value
COVID-19 and China
The 4th CHIS in Beijing. Image credit: EO Company

EO Company and EO Healthcare jointly held the 4th China Healthcare Industry Summit (CHIS) in Beijing on July 25-27. Instructed by Chinese Health Information and Bid Data Association (CHIBDA), Huairou Municipal Bureau of Economy and Information Technology, and Huairou Municipal Health Commission, the 4th CHIS gathered thousands of industrial professionals at Beijing Yanqi Lake International Convention & Exhibition Center, where held the First Belt and Road Forum for International Cooperation.

The summit themed Healthcare Reform from Scale to Value and adopted a structure of “keynote conference + four panels + roadshows”. Over 50 guest speakers shared their opinions and experience during the time of change in healthcare industry from the expansion in scale to the development in value creation and the four topics - Biopharmaceutical Innovation, Healthcare Bid Data, Private Healthcare, and Healthcare Technology – are the center of discussions.

The New Medical Reform entered the 10th year, and 2019 is a critical turning point for Chinese healthcare industry’s development from emphasizing the quantity or scale to focusing on the quality or value.

New technologies like the Internet of things (IoT), artificial intelligence (AI), big data and so forth brings new challenges and opportunities to the industry. Along with technological development, the healthcare has welcomed a time for revolution and transition. The Chariman of CHIBDA, Jin Xiaotao (金小桃) said, to push the industry moving forward needs innovations, sufficient inner momentum, and a perfect regulation system.

Speaking from a national angle, two-vote rule, zero-extra-cost drugs, update of medical insurance catalogues, payment by disease, and payment by disease-related groupings have pushed the focus of the medical reform from fee controlling to optimizing and balancing medical resources, said Jiao Baojun (焦宝军), the deputy district mayor of Huairou.

He noted that the current Huairou District Government is working hard to solve problems like high expenditure of medical service and unbalanced healthcare development. The government actively promote the development of tourism and nursing house services and the integration of Internet technologies and healthcare industry, so the government can build a solid foundation for high-quality economic development.

With years of infrastructure’s building, the big health industry enters an evolutive stage to upgrade itself with improved services and upgraded technologies. During the first half of the industry’s development, capital did its best to scale the healthcare market, and in the second half, it is the time for practitioners in the industry to compete and excel, said Zhang Xuying (张许颖), the deputy general-director of China Population and Development Research Center.

Zhang said that based on the forecast of Chinese urban-rural population and the age structure of population, China will emerge a market with least a trillion of yuan’s demand of healthcare services. The potential growth of healthcare industry is beyond imagination.

After rapid expansion – to make a large cake, now it is time to make the cake tastes good. Healthcare industry now is at the intersect of reformation. EO Company Co-founder and President, Wang Bin (王彬), said that healthcare’s core value is to save lives and make people live with dignity from having a healthy life. And now is the time for healthcare to make progress in value realization.

Hengrui Medicine (恒瑞医药), Health 100 (美年大健康), More (妙健康) and Tencent Trusted Doctors (企鹅杏仁) share their views and experience from the perspectives of pharmaceutical, health examination, healthcare data and healthcare tech.

Institute of Economic Chinese Academy of Social Sciences’ Deputy Head Zhu Hengpeng (朱恒鹏) mentioned that the Internet time will help to build healthcare practitioner credit rating system that contributes to formalize service providers’ behaviors and practices and improve professional service level.

The 4th CHIS came to an end, but EO Healthcare will long stay in the industry as platform and service healthcare enterprises with accumulated experience and resources while adhering to national policies and adopting new tech and new ideas to help the industry grow.

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