ShuLian Yikang Files IPO Prospectus: Leveraging Big Data for Healthcare Insurance Cost Control Beyond Clinical Diagnosis

Chengdu Shulianyikang Technology Co., Ltd. (hereinafter referred to as “Shulianyikang”) is an independent third-party provider of big data solutions for medical insurance cost control and healthcare big data solutions. Its core business includes providing medical insurance claims auditing, big data regulatory services for medical insurance, and intelligent healthcare and decision support systems to local Human Resources and Social Security Bureaus, Health and Family Planning Commissions, commercial health insurance companies, and healthcare institutions.

Currently, Shulianyikang has established in-depth collaborations and deployed operational systems with multiple medical insurance and New Rural Cooperative Medical Scheme (NRCMS) administrative departments. The achievements have garnered significant attention and recognition from leaders at the national, provincial, and municipal levels. Furthermore, the company has obtained ISO 9001 quality management system certification, delivering standardized, efficient, and high-quality comprehensive services to its clients.

Zhang Yanlong, Founder and CEO of Shulianyikang, told VCBeat that the company’s competitive advantage lies in its solutions, which have been meticulously refined through hundreds of millions of business data records and built upon hundreds of independently developed big-data algorithmic models tailored for medical insurance. As a result, its solutions offer greater precision and personalization.

Our Mission: Leveraging Big Data to Support Cost Containment in Medical Insurance

Currently, the actual situation in China's healthcare sector is characterized by rapid growth in medical expenditures, an aging population, and uneven distribution of medical resources. The widespread occurrence of overtreatment, non-compliant practices, and insurance fraud in hospitals has placed unprecedented pressure on the medical insurance system.

However, given the finite nature of medical insurance funds, how to make scientific decisions regarding fund utilization remains a challenging issue for healthcare institutions and relevant government departments. Furthermore, in the context of the “Internet + Healthcare” ecosystem, where traditional healthcare is exploring new models such as telemedicine and pharmaceutical e-commerce, ensuring the safety and controllability of these funds under such circumstances poses another significant challenge.

In fact, Chengdu Shulianyikang Technology Co., Ltd. is working to address these issues.

Currently, the products of Shulianyikang mainly include the following four sections:

1. MIBA Intelligent Medical Insurance Audit System: Serving bureau-level clients, the system leverages a comprehensive evidence-based medicine rule library to audit expenses for compliance violations, significantly improving audit efficiency and curbing improper fund usage. Currently, the system’s violation detection rate stands at approximately 3%–6%.

2. MIBS Big Data Supervision Platform: Serves regulatory authorities in building big data models for online learning to identify violations, fraud, and insurance scams, enabling real-time monitoring of hospitals.

3. Hospital-Side Regulatory Analysis System: Serves hospital clients with prescription review, medical insurance and cost control, as well as monitoring and intelligent early warning for outpatient and inpatient expenses.

4. Big Data Technology Service MIBDS: Provides fund analysis and forecasting for bureau-level and hospital-level clients; analyzes simulated diagnostic and treatment plans, drug utilization patterns, and disease spectra; and generates thematic reports on pharmaceuticals to support scientific decision-making.

Clear Technological Advantages

Zhang Yanlong stated that Shulianyikang currently possesses a comprehensive and authoritative clinical knowledge base, rich and precise big data models, and an efficient, easily scalable big data platform.

Its knowledge base currently contains over 4.7 million medical rules. It can audit violations including, but not limited to, indication restrictions, gender restrictions, stepwise medication protocols, contraindications, and duplicate prescribing. Its content is primarily developed in accordance with the industry standard of the Ministry of Human Resources and Social Security of the People's Republic of China (LD/T 90-2012).

Furthermore, the platform can provide hundreds of big data analysis and mining models, including algorithms for big data anti-fraud, graphic and text recognition analysis, and more. In this way, Chengdu Shulianyikang Technology Co., Ltd. can leverage its powerful data analytics capabilities to identify significant issues within medical insurance funds, such as drug abuse, over-treatment, fraudulent medical claims using forged documents, and drug substitution. These models feature self-learning capabilities, allowing them to achieve higher recognition accuracy as the system operates over time.

Furthermore, supported by an underlying big data platform, Shulianyikang can easily expand its data sources. With enhanced data processing capabilities, it can handle structured data, such as natural language descriptions (e.g., physician order and diagnosis content) and graphical/image data (e.g., PACS images and LIS test reports). This platform boasts robust processing power and scalability, enabling millisecond-level auditing of settlement data.

Team

The company boasts a renowned expert team with over 10 years of experience in data mining, the healthcare industry, health insurance, and information technology.

Its founder and CEO, Zhang Yanlong, previously worked at Nokia and Motorola, and currently serves as a member of the Expert Advisory Committee for Health and Family Planning Policy Decision-Making in Sichuan Province.

Co-founder and CMO Deng Jun is a business executive who previously served as Vice President of Marketing at Guangmang Company.

COO Xing Yong has cultivated his career in the field of healthcare informatics for many years. He possesses extensive management experience at large multinational corporations such as SYNNEX, Nokia, and CIeNET, and has embarked on entrepreneurial ventures twice.

Chief Data Scientist Fu Bo is an Associate Professor at the University of Electronic Science and Technology of China. Since 2002, he has been engaged in research in fields such as signal processing, pattern recognition, cryptography, and artificial intelligence, and has presided over multiple provincial- and ministerial-level big data projects.

The product is currently undergoing fundraising.