Cixin Healthcare Files IPO Prospectus: Building a Primary Care-Based Physician Platform for Enterprises and Insurers

“How to help enterprise employees restore and maintain their health, and how to provide them with necessary medical services when they are in need. This is what Cixin has been doing and will continue to do.” Perhaps influenced by a long-term fast-paced lifestyle, Geng Junqiang spoke rapidly, yet his words carried considerable weight.

In fact, Geng Junqiang had participated in the establishment of two insurance companies in 2002 and 2003, but later abandoned the effort due to an “unfavorable environment.” Nevertheless, this experience planted a seed in his mind, given his years of deep involvement in the healthcare sector. It was not until 2016, when Han Xiaohong, President of Ciming Health Management, and Yu Rong, Chairman of Meinian Onehealth, approached Geng Junqiang, that they jointly founded Cixin (Beijing) Medical Investment Co., Ltd. (hereinafter referred to as “Cixin”).

At the core of health and medical services lies healthcare itself. To establish a closed-loop service system for employee health protection, Cixin, under the academic guidance of the General Practice Branch of the Chinese Medical Association, has built a general practitioner practice platform that encompasses practice tools, skills training, and shared consultation rooms. Through in-depth collaboration with medical institutions and medical professionals, Cixin integrates healthcare resources—particularly those of general practitioners—to provide managed care services based on general practice diagnosis and treatment to insurance company clients and employees of enterprises and public institutions.

VCBeat (WeChat: vcbeat) has learned that Cixin has partnered with over a dozen insurance companies, providing contracted services to millions of individuals. Its general practitioner service platform boasts a team of more than 10,000 general practice medical professionals. The company operates four shared medical service complexes.

Results from Ciming and Meinian Onehealth Healthcare checkups indicate that 20%–22% of the more than 20 million employees screened have high-risk factors, with 3%–5% already in a diseased state. These individuals require further medical services, reflecting substantial unmet demand among both enterprises and employees. However, medical services inevitably involve “costs.” Currently, health insurance reimbursement faces numerous challenges, while commercial health insurance generally lacks specialized, comprehensive medical services, resulting in poor customer experience for policyholders. Meanwhile, commercial health insurance also grapples with difficulties in cost containment and limited scale.

Faced with a large population of employees in suboptimal health and insurance companies “in distress,” Cixin has realigned its resources to focus on the B2B sector. By partnering with insurance companies, Cixin provides services to their traditional clients (i.e., healthy individuals) while also collaborating to develop new health insurance products that extend coverage to broader customer segments, including those with pre-existing conditions. Additionally, Cixin signs direct contracts with enterprises to deliver personalized healthcare plans for their employees, thereby creating an innovative “insurance + healthcare” service model.

Geng Junqiang told reporters that Cixin offers dozens of healthcare services, such as telephone consultations with doctors, home visits by nurses, health lectures, and green-channel access for critical illnesses. Backed by a robust medical collaboration system and a nationwide team of general practitioners, Cixin provides reliable medical services to corporate employees.

Through collaborations with academic initiatives such as the General Practice Branch of the Chinese Medical Association and the Office of the General Practice Collaboration Platform, Cixin has accumulated a substantial pool of physician resources. In response to national policies and to facilitate multi-site practice for general practitioners, Cixin has established a closed-loop diagnosis and treatment service model centered on general practitioners, integrating general practitioners, specialists, and cross-specialty physicians. Furthermore, to better serve each employee, Cixin has further segmented its medical and nursing staff into family doctor teams (each comprising 4–5 healthcare professionals) assigned to manage the care of individual employees or their families. Additionally, team leaders—physicians from Grade A tertiary hospitals—are appointed to oversee these teams and assist general practice team members in enhancing their professional skills.

Since October 2018, Cixin has established General Practice Medical Service Centers in large Grade A tertiary hospitals across various provinces and regions in China. These centers serve as medical collaboration hubs for general practitioners’ (GPs) skills training and service referral within their respective regions. On one hand, they provide professional venues for training in appropriate technical skills, helping primary-care GPs enhance their technical and service capabilities. On the other hand, they foster a collaborative service model between specialists and general practitioners. After Cixin’s clients receive diagnosis and treatment from specialists, Cixin facilitates follow-up disease management by connecting them with GPs. In this way, specialists and GPs leverage their respective professional advantages to provide patients with comprehensive, full-cycle medical care, while medical institutions form a shared healthcare service consortium.

Cixin Three-Tier Medical Care System (Image source: Provided by the company)

Technical support serves as the backbone of platform-based enterprises. To ensure the convenience of physicians’ multi-site practice, Cixin Medical has invested in the development of the “Xin Yiliao” cloud service system, which includes a Cloud Hospital Information System (HIS), a Clinical Decision Support System (CDSS), a Chronic Disease Management System, and a Physician Competency Education System.

Although Cixin targets the B2B sector, its services are ultimately delivered to each individual employee.

Cixin’s team of general practitioners first conducts a comprehensive health analysis for each client, establishing individual employee health records to facilitate self-managed healthcare. When employees encounter health issues, they contact their dedicated family physician, who assesses whether the matter can be resolved on-site; if not, the physician refers them to nearby medical institutions for further care. Cixin has established in-depth collaborations with Grade 3A hospitals to optimize service offerings and provide a broader range of medical treatment options. Finally, upon discharge, Cixin’s family physician team leader coordinates closely with specialists to support the patient’s rehabilitation.

In terms of next steps, Cixin Medical plans to expand its shared healthcare service complexes to more provinces across China by the end of 2019, serve millions of individuals through its “insurance + healthcare services” model, and provide a service volume equivalent to RMB 2 billion in health insurance coverage.

For inquiries, please contact the reporter via WeChat (ID: Shirley_CaiAx); the reporter will facilitate connections free of charge.