Profit Model Change And Performance Analysis Of Ping An Health Under COVID-19

With the improvement of living standard,the public’s awareness of health gradually increased,the demand of medical treatment also increased.However,there is still a large gap in China’s medical resources,the distribution of high-quality medical resources is uneven.With the development of Internet,online healthcare treatment,which can alleviate the shortage of offline healthcare resource emerges,has been promoting the transformation of traditional healthcare system.In 2020,the outbreak of COVID-19 highlighted the advantages of online healthcare,and the public’s acceptance of online healthcare treatment increased.The government introduced a number of policies,and the industry of online healthcare got a better opportunity to develop.Many enterprises joined the online healthcare.However,many online healthcare enterprises are facing the problem of revenues increasing but no profits,and the loss cannot be effectively controlled.The profit model of online healthcare platform becomes a hot issue of social concern.This thesis takes the online healthcare platform enterprise of Ping An Health as the research object to explore the profit model of online healthcare platform.On the basis of sorting out the concept of profit model,this thesis combed constituent elements and the profit model types of online healthcare.The thesis analyzes Ping An Health’s four business models,constituent elements of profit model,reasons for changing profit model and the change performance.It is found that under the membership system,Ping An Health’s operating income increases significantly,but the costs and expenses under the business expansion are large,and the loss problem is still serious.As for financial performance,the thesis chooses debt paying ability index,profitability index,development ability,operating ability and financial index analysis with the same type enterprise,comes to the conclusion that paid membership system helps Ping An Health increase utilization rate of financial leverage and asset-liability ratio.The revenue drived profitability and development capacity growth significantly.In terms of non-financial performance,the thesis chooses operating data,social evaluation,users’ satisfaction,capital market performance and other indicators.It’s concluded that under the membership system.Ping An Health has significantly increased its operating data,won a number of social honors and user’s satisfaction improved,but its stock price has a large decline due to the impact of the capital market.The study found that Ping An Health’s "HMO" business model is facing the following problems: hard to achieve under China’s national condition,the profit model of membership system is under great operating pressure,and the group’s business was highly depended.This thesis suggested that Ping An Health optimizing its core business,paying attention to cost management,reducing operating pressure,strengthening internal and external cooperation to expand profit sources.