Ping An Healthcare Technology posts profit for first time

Shanghai-based Ping An Healthcare Technology on Wednesday said it turned a profit for the first time due to booming online health-care demands and decreased costs as it adopted artificial intelligence.

In the first six months, Hong Kong-listed Ping An Healthcare generated a net profit of 60.63 million yuan (US$8.54 million), compared with a loss of 245 million yuan a year ago. Its revenue reached 2.09 billion yuan, a 5.8-percent drop from a year ago.

With a growing aging population, China's health-care market revenue will hit 3 trillion yuan annually, with upgraded services like online diagnosis and family doctors, said Li Dou, the company's chief executive.

AI has improved user services and reduced operational and labor costs.

The company has developed a medical large language model or LLM, which carries out quality control work in multiple areas, including diagnosis, treatment safety, consultation, drug use and medical record writing. With AI assistance, people can own their electronic medical records and improve chronic disease management.

By implementing a nationwide family doctor policy, now with AI support, China can empower individuals to take charge of their health, alleviate the burden on hospitals, and build a more robust and sustainable health-care system for the future, industry officials said.