Jingzai Information Files IPO Prospectus: Riding the Wave of Smart Hospital Management

Information technology is transforming people’s lives with unstoppable momentum and rapidly integrating across industries, driving unprecedented changes in healthcare—a sector closely tied to public welfare. For a considerable period, the development of hospital information systems primarily focused on enhancing clinical capabilities, while the positive impact of hospital management on operational efficiency long remained overlooked. The issuance of policies such as the performance assessment for tertiary public hospitals, reforms in medical insurance payment mechanisms, and the tiered evaluation framework for smart management indicates that, building upon smart healthcare and smart services, the state has put forward new requirements and expectations for refined hospital operational management.

Against this backdrop, the team at Shanghai Jingzai Information Technology Co., Ltd., which has accumulated over a decade of experience in the informatization of hospital operations management, takes providing comprehensive smart management solutions for hospitals as its entry point. Adhering to the philosophy of “Smart Solutions, Intelligent Products, and Dedicated Service,” the company focuses on smart hospital management. Leveraging its Jingzai HRP product series, Jingzai Fengcai SaaS Collaboration Platform, Jingzai Smart Equipment SaaS Service Platform, Jingzai Mobile Application Aggregation Platform, and Jingzai Operational Data Service Platform, it drives hospital operations with data, helping medical institutions achieve refined, intelligent operations while reducing costs and improving efficiency.

Leveraging its product advantages and the team’s over a decade of industry experience, Shanghai Jingzai Information Technology Co., Ltd. secured tens of millions of yuan in Pre-A financing shortly after its establishment. The company achieved business revenue 2.3 times higher than expected, with its products and services validated by the market and highly recognized by customers and partners.

What insights and lessons can this rapidly growing company in the field of smart hospital management offer on its exploratory journey? In this article, VCBeat speaks with Yang Jiamu, CEO of Shanghai Jingzai Information Technology Co., Ltd., to gain his in-depth perspectives on the healthcare industry and smart management solutions.

Shanghai Jingzai Information Technology Co., Ltd.’s acute sensitivity to market pain points and demands stems from its team’s decade-long accumulation of experience focused on the healthcare sector. Initially, the team primarily provided implementation services for high-end ERP products such as Oracle and SAP to enterprises. Its true entry into the healthcare industry came through a collaboration with Peking University People’s Hospital. Since then, the team has been providing management software implementation services to hospitals. It was during this process that Yang Jiamu identified existing issues in hospital management.

Admittedly, Oracle and SAP, as management software applicable to various industries, boast prominent advantages in underlying architecture design and integrated management platforms. However, due to the complex scenarios and high implementation challenges inherent in hospital settings, such general-purpose products cannot fully meet the requirements for refined hospital management.

Pain points signify market opportunities and demand. Drawing on their years of experience in delivering management software, Yang Jiamu and his team decided to focus on smart hospital management as their entry point, aiming to develop a product tailored to the requirements of Chinese hospitals.

On the other hand, the company’s strategic direction is also shaped by policy-driven momentum in the industry.

In May 2018, the National Healthcare Security Administration was officially inaugurated. Over the subsequent three years, the National Health Commission and other departments successively issued policies related to performance evaluation in public hospitals. On March 16 this year, the National Health Commission officially released the "Hierarchical Evaluation Standard System for Smart Hospital Management (Trial)," indicating that future hierarchical evaluations of smart hospital management will be conducted alongside the hierarchical evaluation of electronic medical records and the hierarchical evaluation of smart hospital services, jointly guiding healthcare institutions to carry out smart hospital construction in a scientific and standardized manner.

Driven by policy support, the sector of smart hospital management has witnessed rapid development, with an increasing number of hospitals proactively investing in related projects and products. Against this backdrop, enhancing product quality and service excellence has become the top priority for corporate development.

In the past, hospitals did have process-oriented software to assist with operational management; however, most products were limited to managing individual systems. This resulted in inconsistent operational data standards across hospital departments, leading to issues such as the inability of subsequent operational data to support management strategies.

To enhance data granularity and usability, Shanghai Jingzai Information Technology Co., Ltd. first chose to unify data granularity, data management processes, and distribution workflows on a single platform. This approach establishes mapping or integrated logical relationships among data sets, thereby addressing the issue of poor data connectivity across various hospital departments.

Having creatively resolved the challenges of data application, the remaining hurdle lies in effective implementation management. For hospitals, high-value, refined management translates to cost reduction and efficiency gains; however, for frontline staff, such refinement corresponds to an increased workload, while the demand for timely management necessitates rapid feedback on tasks. These factors inadvertently heighten the difficulty of implementing management strategies.

In Yang Jiamu’s view, the success of a product or project depends not only on delivering value to management but also on gaining acceptance from frontline staff. The product should serve as an aid rather than a burden in employees’ daily operations. Moreover, hospitals are inherently characterized by data complexity and redundancy; extensive manual data processing further increases the risk of operational errors.

In response, Shanghai Jingzai Information Technology Co., Ltd., leveraging its understanding of the diverse roles and responsibilities within hospitals, has applied intelligent concepts to highly repetitive and logically structured tasks. Combined with the platform’s integrated design, this approach enables automated data processing and seamless workflow progression. Such business automation not only significantly enhances the work efficiency of frontline staff but also ensures timeliness and accuracy, thereby effectively resolving challenges related to product implementation.

Generally, the management and operations of different hospitals have their own unique characteristics. However, despite these variations, the fundamental logic remains consistent: the management of personnel, finances, materials, and data follows common principles, and business processes do not differ significantly. Based on extensive project experience and deep customer insights, Shanghai Jingzai Information Technology Co., Ltd. has developed a standardized product system by leveraging its past experience in providing operational management solutions to various types of hospitals. This system includes an integrated HRP platform for smart hospital management, smart finance, smart supply chain (covering pharmaceuticals, consumables, non-medical supplies, etc.), DRG-based lean operational management, budget management, cost management, performance management, smart asset and equipment management, human resources, Jingzai PSD, Jingzai Fengcai SRM (supply chain collaboration), smart reimbursement, a mobile HRP office platform, and Jingzai Operations Robots, among other products and full-scenario intelligent solutions for smart hospital operational management. These solutions can be rapidly deployed within hospitals. In special cases, the team provides personalized customization based on specific hospital needs; however, the overall proportion of customization remains low. This is precisely because the team’s decade-long understanding and insight into the industry have enabled the products themselves to effectively meet the operational management needs of hospitals.

Leveraging the proven effectiveness of its products, Shanghai Jingzai Information Technology Co., Ltd. has delivered smart management solutions to a wide range of medical institutions, including public Grade 3A hospitals, private hospitals, and hospital groups. To ensure successful product implementation and provide professional services with more responsive support, the company has established branch offices and service teams in Xi’an, Beijing, Chengdu, Tianjin, Guangdong, Guangxi, Shandong, Yunnan, Jiangxi, Xinjiang, and other regions.

“Since informatization services and smart management services are termed ‘services,’ they inherently entail certain localization requirements. Therefore, we hope that Jingzai Information can build localized service teams adaptable to different regions,” stated Yang Jiamu. “This team will not only meet hospitals’ on-site service needs for product deployment but also provide timely feedback on the varying demands of different hospitals in the future, thereby facilitating operational maintenance, optimization, and upgrades after product launch.”

Moving forward, Shanghai Jingzai Information Technology Co., Ltd. will continue to focus on the field of smart hospital management, steadily strengthening its position in the B2B enterprise software and SaaS services market. In response to the demands for smart hospital management, the company integrates advanced technologies such as OCR, RPA, RFID, intelligent devices, and operational big data. By focusing on enhancing the value of hospital management, it empowers medical institutions to reduce costs, improve efficiency, and achieve transformation and upgrading, thereby supporting the high-quality development of smart hospitals.