YiNian Health Management Submits IPO Prospectus: Premium Wellness Service with Membership Fees Starting at RMB 68,000 and Over 100 Signed Clients
Shen Farong, Founder of the Xingxiangyuan Doctor Co-Creation Platform
On March 21, on the fifth floor of Zhejiang Greentown Cardiovascular Hospital, the reporter met Shen Farong, who had just completed a surgical procedure.
Shen Farong serves as both the President and Director of the Heart Center at Zhejiang Greentown Cardiovascular Hospital, as well as the founder of the Xingxiangyuan Physician Mass Innovation Platform. On June 18, 2015, he established the Xingxiangyuan Physician Mass Innovation Platform, introducing a “mass innovation” mechanism with the aim of creating a platform for physicians’ multi-site practice. Within less than a year, more than ten specialist physician groups were formed, covering fields such as maternal and child health, VIP gastroenterology, vascular surgery, pain management, medical imaging, urology, and oncology. Meanwhile, the platform extended its incubation efforts to include projects in high-end health management, smart chronic disease management, maternal and infant health, and intelligent wearable devices. On June 18, 2016, Xingxiangyuan secured RMB 100 million in Series A financing, led by Hangzhou Jinjiang Group Co., Ltd.
Positioning of Yinian Health (hereinafter referred to as “Yinian”) under its umbrellaIn the field of high-end health management, it also secured tens of millions in angel financing on December 23, 2015. Its target demographic is high-net-worth individuals, offering a comprehensive suite of services ranging from medical examinations and wellness care to clinical treatment.
Since its launch, Yi Nian has served over 100 clients, relying solely on word-of-mouth marketing. With annual membership fees starting at RMB 68,000, the renewal rate is exceptionally high. What distinguishes its premium management services? Why do members rate it so highly?
When asked about the secret to Yinian’s success, Shen Farong smiled. “When I worked at Zhejiang Hospital, many patients sought me out by reputation; now that I am at Zhejiang Greentown Cardiovascular Hospital, the patient volume remains high.” This demonstrates that patients follow their doctors.
Many people mistakenly equate premium health management with premium medical checkups, but this is not the case. A checkup is merely one component of health management; the true focus lies in how to regulate and manage one’s health following the examination.
According to Shen Farong, the first step in health management is to understand members’ physical conditions through medical examinations. However, there are numerous examination providers on the market, ranging from low-end to high-end in terms of pricing. What many people fail to realize is that these examination centers and medical institutions use entirely different testing equipment and radiologists for image interpretation, which accounts for the significant price disparities.
Furthermore, how should one choose a health checkup package? It is not the case that more complex or expensive options are better; rather, the optimal choice should be made by evaluating the benefit-risk balance in light of an individual’s health status.
Shen Farong also told VCBeat that in many health checkup institutions, the process resembles an assembly line, with patients being routed into various ultrasound and CT rooms by category. In other words, most examinations are conducted by instruments, while the majority of technicians and physicians interpreting the reports are not clinical specialists. Nevertheless, these institutions often rebrand them as “experts” to serve their profit-driven objectives.
Yinian’s advocated medical-grade health checkups, also known as personalized health screenings, begin with the establishment of a member’s health profile. This process involves an in-depth assessment of the individual’s condition, including analysis and evaluation of current medical history, past medical history, family history, behavioral risk factors, and occupational exposures, based on which clinical experts customize the examination package. After the checkup, physicians not only inform the examinee of any identified health issues but also provide detailed explanations regarding the underlying causes, potential consequences, and recommended lifestyle adjustments for the future.
“The greatest advantage of clinical expert-led health examinations lies in their ability to predict and diagnose diseases. The core value resides in the ‘human’ element.”
There are three tiers of medical practice: superior physicians prevent disease before it arises, competent physicians treat disease in its early stages, and inferior physicians treat disease only when it has become severe. In the face of a chaotic and fragmented health checkup market, Shen Farong aims to leverage medical expertise to help more people manage their health, striving to enable individuals to avoid illness or reduce its incidence.
“I run Yinian Health Management. Our members are all executives of publicly listed companies, and we have signed non-disclosure agreements with them, as the health status of senior executives can significantly impact a company.” For example, if two publicly listed companies are competing for market share, and one company learns that an executive from the other company is suffering from an illness and discloses this information, it could have a substantial effect on the latter’s stock price.
Unlike the current marketMost health management companies in the market primarily operate with business models centered on routine physical examinations and expedited medical access services. In contrast, Yinian has proposed a health management philosophy of “prevention as the primary focus, treatment as supplementary, and integrated prevention and treatment,” emphasizing comprehensive protection of members’ physical, mental, and spiritual well-being. Leveraging the Xingxiangyuan Physician Co-Creation Platform, it integrates both medical and non-medical resources to ensure the availability of all necessary resources throughout the closed-loop health management process for its members. The company boasts a medical expert team led by renowned leading specialists in relevant disciplines across China, reportedly covering more than 40 subspecialties.
Among them, Shen Danping, General Manager of Hangzhou Yinian Health Management Co., Ltd., brings over a decade of experience in preventive medicine and healthcare services. As one of the earliest professionals in mainland China to engage in this field, she possesses extensive expertise in medical knowledge and medical translation, along with abundant overseas medical resources. She maintains close collaborations with renowned medical institutions in Japan, the United States, Switzerland, and other countries, enabling members to access cutting-edge international precision medicine technologies and premium service experiences.
In a nutshell, Yinian offers personalized health assessments, customized health management plans, tailored health management services, and high-quality medical care assurance, providing members with comprehensive, end-to-end health management services.
Year-round, uninterrupted health management services are delivered through a “4-to-1” dedicated wellness team. Each member is assigned a personal physician, a health assistant, a nutritionist, and an exercise specialist. This approach establishes a closed-loop health management system encompassing medical-grade physical examinations, daily monitoring, ongoing guidance, targeted interventions, and timely access to medical care.
Shen Farong provided reporters with a specific case study. A member, who had a family history of hypertension, was undergoing postoperative traditional Chinese medicine (TCM) adjuvant therapy for cervical cancer when she joined Yinian. She presented with hypertriglyceridemia, picky eating habits, and a sedentary lifestyle. Based on her condition, Yinian engaged clinical experts to customize a physical examination plan for her. Following a comprehensive health screening, expert consultations were arranged based on the test results, and recommendations for subsequent medical care were provided. Clinical experts and health physicians jointly developed a personalized health management plan for her, covering medication management, dietary adjustments, exercise routines, and other interventions. Health assistants conducted daily tracking and reminders based on monitored data and delivered health education through both in-person and remote consultations. After three months, she discontinued TCM treatment. Her neutrophil count and hemoglobin levels returned to normal, her immune function improved, her blood lipid profile normalized, and her sleep quality significantly enhanced.
Thanks to its convenient transportation and central location, the Huanglong Cave scenic area in Hangzhou is a must-visit destination for many tourists. Yinian’s operational facility is situated here. After arriving at Qianzhuang, turn left to spot Yinian’s understated signage. Follow the stone steps along a winding, secluded path lined with thousands of emerald bamboo stalks, creating an exceptionally serene atmosphere. After approximately 100 meters, you will reach a closed wooden door; press the doorbell and wait for staff verification before entry is granted. Proceed another 100 meters uphill to arrive at Yinian.
Pavilions, terraces, water-side pavilions, and winding corridors grace the grounds. The entire clubhouse is designed and built in the style of a traditional Chinese courtyard residence, exuding an elegant, classical charm that creates an almost vacation-like ambiance. For all Yi Nian Health members, pre-examination consultations are conducted exclusively at this location. To safeguard member privacy, all reception rooms and consultation suites at Yi Nian are privately enclosed. Reflecting its premium positioning, the facility features meticulous décor; even the workstations in the consultation rooms are custom-made from Huanghuali (yellow rosewood).
The second major highlight of Yinian Health lies in its “individual-centered health stewardship management model,” which provides personalized services based on users’ health profiles and individualized needs. In early 2017, Yinian conducted member follow-up surveys, achieving a remarkable 100% satisfaction rate, which greatly encouraged the entire team. “Through our health management interventions, members have shown significant improvements in hypertension and hyperglycemia,” Shen Farong told VCBeat.
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Currently, Yinian’s members are primarily entrepreneurs or senior executives of publicly listed companies. As planned, Yinian will gradually expand its focus from individual clients to corporate clients, customizing corresponding health management services for enterprise employees. In addition, Yinian has entered into strategic cooperation agreements with US Haodaifu, Chuanqi Health, and Ruitai Health, respectively, to establish green medical access channels in the United States, Japan, and Beijing.
"2016 Green Paper on the Health of Chinese Entrepreneurs" analyzes abnormalities in 16 common health checkup indicators based on sample data from over 6,000 entrepreneurs, revealing that the overall rate of abnormal indicators among this group is relatively high. Notably, 99.0% had at least one abnormal indicator, representing a 1.5 percentage point increase from 97.5% in 2014. Those with five abnormal indicators accounted for 49.4%, nearing half of the sample. More concerning is that among the 16 indicators, 1% of the entrepreneur sample exhibited abnormalities in more than ten items, indicating serious health concerns. In recent years, there have been numerous cases of sudden death among entrepreneurs and senior executives.
Experience in health management from the United States demonstrates that, through effective proactive prevention and intervention, the likelihood of health management service participants adhering to prescribed medication regimens increased by 50%, while the probability of their physicians prescribing more effective medications and treatment methods rose by 60%, thereby reducing the overall risk for participants by 50%.
In response to this highly demanding demographic, Yinian Health has pioneered a practical approach to premium health management.
Data Notes:All data presented in this article were provided by interviewees or obtained through public searches.