The CareVoice is 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.
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.