Over the years, ESG (Environmental, Social, and Governance) development in China has seen steady growth due to the government, the market, and other factors, with the ESG performance of enterprises increasingly becoming an important criterion for investors when measuring long-term investment value and resilience. As the flagship member and pioneer of Ping An Group’s health and senior care ecosystem, Ping An Health has always been committed to creating a Chinese “managed care model”, integrating ESG into its business strategy as an endogenous growth driver for corporate development, organically combining social responsibility and commercial value, and realizing long-term value creation.
MSCI (Morgan Stanley Capital International), an authoritative international index company, released its latest 2024 global ESG rating. Ping An Health’s ESG rating was adjusted from A to AA for the first time, making it the highest rated company among healthcare providers and services. On November 9, Luoqi Zang, Ping An Health’s Executive Vice President and CFO, attended the 2024 Caixin China ESG30 Summit. Luoqi Zang shared the practical achievements of Ping An Health in terms of innovative models, innovative services, and innovative ecosystems to actively empower the industry’s win-win development led by technology.
This year marks the 10th year of Ping An Health’s establishment. As a technology corporation in the healthcare industry, the company has embraced ESG as part of its DNA and extensive social values since its inception.
First, in terms of model innovation, Ping An Health is committed to creating a Chinese version of the managed care model, focusing on serving financial and corporate clients, actively integrating online and offline service resources, and providing users with one-stop high-quality healthcare and senior care services. Furthermore, the unified service portal of “Ping An Health” online application provides users with more cost-effective 24/7 medical and healthcare services, achieving green healthcare for patients, ultimately enhancing the accessibility of quality medical resources and facilitating more inclusive healthcare.
In the area of service innovation, Ping An Health has established a health file for each user. With family doctors and senior care concierges as the service hub, it provides “online + offline” full-scenarios, full-life-cycle services, breaking the limitations of time, space, and service breakpoints. The “Ping An Family Doctor” healthcare service brand was upgraded in June, allowing the transition from “passive treatment” to “proactive health management” to take place.
Capitalizing on the strength of the company’s healthcare ecosystem, the service addresses major pain points of senior care at home. It provides customers with a triad of “the 3-in-1 senior care concierge system + 10 service scenarios + supervision system”, connecting over 600 home-based senior care services. The customer-centric one-stop senior care service aims to provide customers with 24/7 home care solutions, now covering 75 cities nationwide.
In terms of ecological innovation, Ping An Health has integrated hundreds of thousands of service organizations’ resources, creating a new service online and offline ecosystem. With respect to medical quality control, Ping An Health has set up 188 medical quality and safety management indicators to continuously strengthen the quality of medical services, covering online consultation and purchasing, with offline management organizations. In the field of senior care services, the company has joined hands with its partners to build a quaternity of “medical, residential, entertainment, nursing” and formulated several service standards such as the “Management Standards for Home-based Rehabilitation and Nursing Services”. Meanwhile, the ecosystem combines home-based senior care services with offline institutional and community care services to create a multimodal senior care service matrix, which will bring seniors a more worry-free and dignified life.
The development of artificial intelligence technology and technological empowerment have also continued to improve Ping An Health’s medical service quality and efficiency. The self-developed Ping An Medical Master® multimodal medical large language model fully empowers all major scenarios and effectively promotes the improvement of both efficiency and quality of health services. Among them, the efficiency of “Family Doctor” services has increased by about 30%, and the accuracy of medication compliance has reached 100%.
Luoqi Zang asserted that medical and healthcare enterprises should first prioritize model and service innovation improvements. By strategically focusing resources, these companies can address imbalances in social resource allocation, thereby broadening service access while leveraging technology to reduce costs.
It will also become the new goal of Ping An Health’s corporate governance and development. In the future, Ping An Health will integrate and apply ESG concepts and principles across its business practices to create a sustainable, win-win cooperative industry ecosystem, and to create richer social value. While achieving business objectives, Ping An Health will uphold its social responsibility within the healthcare industry every step of the way. It will also strive to establish a benchmark for ESG for the industry, thereby contributing to the long-term advancement of ESG theory and practice in China.
