The CareVoice – Chinese mobile platform bringing trusted ratings and recommendations on top quality healthcare services
In View Summary
The CareVoiceis a Shanghai based independent health platform that provides ratings and recommendations on medical providers so that Chinese consumers can find hospitals and doctors with confidence. Statistically, Chinese consumers are amongst the least satisfied with existing healthcare options. In addition, private medical care has been growing very fast with over half of all Chinese hospitals possessing private service capabilities. This, in addition to the increasing popularity of private health insurance in China, has enabled The CareVoice to establish itself within China’s $800 billion dollar health industry.
Unlike many health apps, The CareVoice has refrained from engaging in costly direct to consumer marketing. Rather, The CareVoice partners with insurers and employers in order to on-board their policyholders and employees. Essentially, The CareVoice provide these users with better access to Chinese healthcare providers. The strategy is interesting; through partnering with The CareVoice, health insurers can improve members’ satisfaction, engagement rate whilst lowering their operating costs. Specifically, as users of The CareVoice enjoy broader access to healthcare options, they are engaging in preventive healthcare as opposed to reacting to health issues retrospectively.
CareVoice is review-based social Medical Platform in China that helps patients to make better healthcare decisions.
The CareVoice also allows users to:
Enter a specific illness or condition to search for hospitals and doctors.
Check their insurer’s hospital network with regard to specific services related to their own contract benefits.
Make appointments with a specific doctor.
Access and order medications online.
Consult with other CareVoice users that have a similar health profile or health experience (such as pregnancy or facing sport injuries)
Rate and review medical provider after visit combined with the claim process.
Currently, The CareVoice is partnering with Axa Taiping and an example of how this partnership works in practice can be seen here. Ultimately, the value for insurers stems from the fact that it costs insurers three times more to acquire a new customer than to retain an existing customer. Thus, the appeal of the The CareVoice is that by helping insurers to retain more policyholders, insurers can cut their marketing overheads whilst also providing customers with an integrated healthcare experience.
Benefit to Customers
Instant access to healthcare information and relevant doctors according to specific illnesses and ailments
Hospital and doctor ratings and reviews from other users’ experience
Ability to check insurance coverage and services
Ability to book appointments
Ability to submit and review claims with the hospital (upcoming feature).
Benefit to the Insurer
Increase customer satisfaction and retention rate
Improve management of medical provider’s network
Access to a “plug and play” healthcare solution
Generate opportunities to cross sell or upsell health insurance products
The Digital Insurer's View
The CareVoice is an interesting example of innovation within the Chinese healthcare industry. By partnering with health insurers and employers directly, The CareVoice is able to acquire both users and access recurring revenue streams in one motion. Ultimately, as with all consumer facing apps, the challenge for The CareVoice will be to demonstrate long term user engagement as opposed to short term user acquisition.