Chuan Taiyi Files IPO Prospectus: Redefining O2O Healthcare in China

“3W Coffee” on Zhongguancun Startup Street, a typical product of the internet era, has long been widely known. Next door lies another café aiming for greater prominence, named “Pioneers.” Yuan Guangbo, CEO of Chuan Taiyi and an entrepreneur born in the 1980s, sat there waiting to discuss the Series A funding amount with investors.

Yuan Guangbo registered his company in 2012. In April 2014, he established medical services as the startup’s strategic direction. By June, the company was officially named “Chuan Taiyi.” Last September, seed funding was injected, and a demo was developed within one month. Three months later, in January of this year, the company secured angel investment from Wang Xiao, one of Baidu’s “Seven Swordsmen.” The introduction to Wang Xiao was made through a mutual contact. According to Yuan Guangbo, their initial conversation lasted only an hour, yet Wang Xiao made the final investment decision just one week later. Wang Xiao once commented, “Chuan Taiyi has identified the right model: enabling doctors to focus on what they do best while minimizing the burden on patients. This is why we invested.”

Let Doctors Do What They Do Best

Unlike conventional fixed mindsets, Chuan Taiyi positions itself as a medical service company. Although it also connects patients with doctors, it is by no means a simple model of online registration and offline services that leaves patients to endure the still-imperfect Chinese healthcare system. Meanwhile, it is fundamentally different from scalpers who vie for limited appointment slots. By collaborating directly with Grade A tertiary hospitals, specific departments, and renowned physicians at the chief physician level or above, Chuan Taiyi has opened up new sources of appointment slots for its users without occupying the hospitals’ original official resources.

Yuan Guangbo stated that in China, the most significant issue in the healthcare industry is an imperfect medical system, a missing service chain, and substantial service gaps. The public’s perception of visiting tertiary hospitals (Grade 3A) is invariably characterized by difficulties in registration, long queues, poor attitudes, and high drug prices. Patients often endure three-hour waits for only three minutes of consultation. In numerous scenarios and moments, patients are left unattended and uninquired about; those unclear about their condition resemble headless flies, colliding chaotically and seeking answers through sheer luck.

For physicians, even modest consultation rooms are constantly packed with patients and their families. Surrounded on all sides, doctors fight a solitary battle amidst a throng. From taking medical histories and performing physical examinations to reviewing laboratory results, documenting medical records, writing prescriptions, explaining symptoms, and instructing patients on where to collect medications, how to take them, and where to make payments—every trivial matter, whether directly related to treatment or not, falls solely on the physician. They must also strictly manage their time; if they exceed allotted slots, they may be unable to see the surging tide of patients waiting.

When it comes to seeking medical care, our compatriots in Taiwan, across the strait, enjoy a much more favorable experience. Upon arriving at a hospital for an initial visit, patients do not simply pay fees and wait in line. Instead, the registration staff first collect the patient’s basic information and enter it into the computer system. Based on the situation, they coordinate with the appropriate outpatient physician. If the physician approves adding the patient beyond the scheduled appointments, the patient is directed to the waiting area, where medical personnel measure vital signs and other physical data. Only after this information has been recorded does the patient proceed to see the specialist. In the consultation room, each physician is supported by a physician assistant. The physician focuses solely on examination, diagnosis, and prescribing medications, while all other tasks are handled by the assistant. These duties include guiding patients through required tests, engaging in thorough communication with patients, and scheduling follow-up appointments.

Taiwan’s healthcare system also originated in the United States. In the 1960s, the profession of physician assistant (PA) first emerged in the U.S., with primary responsibilities involving assistance in a range of clinical medical tasks under the supervision of physicians. These duties include helping to explain clinical diagnoses, formulating treatment plans, and handling specific clinical procedures; some PAs even assist surgeons during operations. Meanwhile, vocational education for physician assistants in the U.S. is well-developed, featuring a comprehensive curriculum. In addition to physicians, the U.S. healthcare workforce includes various types of medical service professionals, such as nurse practitioners, registered nurses, and licensed practical nurses. Both Taiwan and Hong Kong have adopted Western-style healthcare systems. In contrast, mainland China lacks any buffer zone between patients and doctors, resulting in “bare-knuckle” direct interactions.

Faced with a domestic healthcare landscape as barren as a desert, Chuan Taiyi drew on international models to meticulously build China’s healthcare service pyramid, brick by brick.

Chuan Taiyi Establishes “Studios” for Elite Physicians, Supported by Dedicated Medical TeamsAs the saying goes, “Even a hero needs support.” Chief physicians require a team of service assistants to provide comprehensive care. First, patients use the Chuan Taiyi app or WeChat official account to select a department and symptoms. They then choose a physician from the list of chief physicians and place an order by scheduling an appointment. Within two hours, Chuan Taiyi’s customer service representatives will call the patient to inquire about their condition and collect basic medical information. This information is relayed to the chief physician, enabling them to fully understand the patient’s situation and make adequate preparations before the consultation.

The day before the appointment, customer service will call to remind users of the documents to bring, transportation details, time, and location for the following day. Upon arrival at the hospital, a physician assistant from Chuan Taiyi will accompany the patient throughout the visit. During the consultation, the assistant will record the physician’s diagnostic notes and compile them into a visit summary. If patients are unfamiliar with medical terminology—for example, if they do not understand what “coronary heart disease” means—the assistant will provide patient education and explain their symptoms. Additionally, the assistant will help the physician complete medical records, guide the patient through medication purchase and payment, provide full accompaniment, and offer instructions on precautions. After discharge, Chuan Taiyi’s professional service staff will provide refined services such as regular case follow-ups and disease management. Once all services are completed, customer service personnel will conduct a final follow-up with the user.

Thus, on the Chuan Taiyi platform, services commence the moment a user places an order: appointment scheduling and delivery, order confirmation, pre-consultation triage, pre-visit care, in-visit summaries, patient education, administrative assistance, patient reception and discharge, post-visit follow-up, and disease management—even including one week of free post-consultation counseling—are all encompassed. In essence, medical services are continuously extended beyond the appointment stage to minimize unnecessary waiting times for patients and ensure an optimal healthcare experience. For physicians, Chuan Taiyi saves substantial time on trivial tasks, maximizes the utilization of high-quality resources, and unleashes the productivity of renowned specialists, enabling them to focus with peace of mind, meticulousness, and dedication on treating diseases—performing the duties they are both obligated to fulfill and most adept at handling.

Working Side-by-Side with Leading Physicians from Grade 3A Hospitals

Chuan Taiyi has established a physician-centric closed-loop ecosystem, creating four new key roles: physician agents, physician assistants, customer service representatives, and support staff. These teams are tightly integrated around physicians, leveraging mobile internet tools to decompose business processes and deliver efficient, streamlined, assembly-line-style services. This approach creates a novel medical consultation journey and redefines the patient experience.

“In the eyes of physicians, Chuan Taiyi is here to assist them in their work—not to harass them with app-based ground promotions, nor to vie for their time. We are a helper and a partner to doctors,” said Yuan Guangbo. He cited an example: “A couple of days ago, there was a case where a physician scheduled for a patient’s appointment was unexpectedly assigned by the hospital director to attend an event and deliver a speech, rendering him unable to perform surgery the following day. That evening, he contacted his physician agent to recommend a colleague as a replacement. One might ask, how many mobile health companies can exert such influence over physicians? This demonstrates that Chuan Taiyi stands alongside doctors as a trusted colleague, one with whom they are willing to fully cooperate.”

“We serve only the core segment of society’s most scarce medical resources, stripping away physicians’ low-value repetitive tasks and duties outside their scope, matching them with the most suitable patients, and ensuring they receive fair compensation for their professional services.” This is the fundamental reason why chief physicians are willing to partner with Chuan Taiyi, setting aside their prestige to collaborate with a startup.

Looking back to the early days of the company’s founding, Yuan Guangbo would personally visit chief physicians of various departments, eagerly explaining, “We are an emerging mobile health company…” Before he could finish his sentence, the chief physician would express no interest in “mobile health” and politely end the meeting by offering tea.

After a thorough analysis of the underlying reasons, Yuan Guangbo adopted a focused two-point pitch in his subsequent visits to physicians: “First, as a physician, collaborating with Chuan Taiyi requires you to concentrate solely on ‘patient care’; second, Chuan Taiyi will handle all the complex administrative tasks beyond ‘patient care.’” This value proposition gained widespread acceptance among physicians. The number of physicians participating in the collaboration rapidly grew from the initial 267 doctors who secured angel investment to over 4,000 department directors from Grade III Class A hospitals currently on the platform, achieving both quantitative expansion and qualitative advancement. The range of medical specialties has also expanded significantly, evolving from an initial focus on internal medicine to now comprehensively covering internal medicine, surgery, obstetrics and gynecology, pediatrics, ophthalmology, otolaryngology, oncology, and orthopedics.

Compete on Service and Quality, Not Quantity

Chuan Taiyi positions its user persona as individuals willing to pay for health services. But how much should they actually pay? There is no existing market price for reference, as Chuan Taiyi has created a new business format and model, fully entering a blue-ocean market with incremental growth. In the past, service prices were adjusted multiple times with physician participation. After one year of exploration, prices have now largely stabilized. Based on comprehensive factors such as physicians’ medical expertise and reputation, 80% of physicians charge a one-time fee of under RMB 299, while the remaining fees range from RMB 299 to RMB 599. In essence, this compensation system is also an exploration of the value of physicians’ services. In line with national macro policies, which aim to raise the price of medical services while lowering drug sales prices to achieve the separation of prescribing and dispensing, Chuan Taiyi has once again moved ahead of policy trends, taking the initiative to create a new healthcare system, new medical professions, and new pricing standards. The true essence of entrepreneurship—“creation”—has been vividly demonstrated in the Chuan Taiyi project.

Yuan Guangbo stated that the Chuan Taiyi brand does not rely on advertising, compete for user volume, or focus on retention rates; instead, it concentrates solely on resolving users’ problems. As a result, 70% of Chuan Taiyi’s users have been acquired gradually through word-of-mouth referrals. Despite this approach, the platform has accumulated 800,000 registered users since its launch. Interestingly, “Chuan Taiyi users exhibit a distinct characteristic: after a single positive experience, they become highly resourceful problem-solvers within their social circles.” These users often assure close friends with confidence, “If anyone needs medical assistance, I can arrange it promptly. Feel free to request services from any major hospital!” In reality, however, they facilitate these arrangements through Chuan Taiyi without disclosing the source, fearing that if others discover this valuable tool, they would lose the opportunity to showcase their influence and build social capital, Yuan Guangbo said with a smile.



Entrepreneurship Is an Instinct

On recruitment websites, Yuan Guangbo introduces himself as follows: “A Virgo CEO who pursues ultimate perfection and crafts a brand-new patient experience with artisanal dedication.”

In fact, beyond their pursuit of meticulous perfection, Virgos are also characterized by their tenacity and perseverance. Unlike many other startups that frequently pivot their strategies, Chuan Taiyi’s strategic direction has remained largely unchanged since its inception. Although its mobile app was completely rebuilt twice, its core functionalities have stayed consistent. This is because Yuan Guangbo had a clear vision and a profound understanding of the healthcare industry from day one. His steadfast adherence to this original path has allowed the company to avoid the significant growing pains associated with major strategic pivots—a source of considerable pride for him.

Another lesser-known trait of Virgos is their restlessness and penchant for constant change, coupled with a fervent passion for entrepreneurship. Starting a business is not only a hallmark of Virgos but also an instinctive drive. A typical representative is Jack Ma. Yuan Guangbo, who shares this entrepreneurial zeal, graduated from the Department of Materials Physics at Beijing Normal University in 2006 and worked in the industrial sector. Even then, he was quietly laying the groundwork for his own ventures. Without resigning from his job, he registered numerous companies and closely monitored various emerging fields.

Yuan Guangbo said that his previous job involved frequent social engagements, and excessive alcohol consumption led to severe chylomicronemia and fatty liver disease. In his thirties, facing a life-threatening situation, he began to reflect on his life and set two goals: 1. to work in the health industry or health communication sector; 2. to engage in work with social value. Driven by the lofty ideal of changing the world, he resigned and joined Pfizer.

Subsequently, Yuan Guangbo began stationing himself at the hospital on a daily basis, spending 300 out of 365 days there each year. During those two years, he witnessed numerous pain points within the healthcare system, with patients, hospitals, physicians, and medical insurance providers all dissatisfied with the status quo. From that point on, he firmly believed that medical services constitute an essential need and that significant opportunities existed within such a vast healthcare market. Gradually, he began conceptualizing Chuan Taiyi, and in April 2014, he finally made the decisive commitment to launch his entrepreneurial venture.

At that time, due to his outstanding performance, Yuan Guangbo had been exceptionally promoted by Pfizer, with an annual salary of 500,000 yuan. However, he resolutely gave it up to join the wave of entrepreneurship.

After more than a year of operation, the Chuan Taiyi platform has accumulated nearly one million users, with the majority of the company’s revenue derived from C-end consumers purchasing medical services. Yuan Guangbo considers 2016 a significant milestone, noting that Chuan Taiyi’s product line will broaden and its strategic layout will become more mature. For instance, Chuan Taiyi has partnered with an insurance company to launch the Chuan Taiyi Health Insurance. This commercial insurance policy covers all Chuan Taiyi service fees, priced at approximately RMB 2,000–4,000 per person per year, with fluctuations based on the user’s age and specific medical condition. A key feature of this insurance is that policyholders enjoy on-demand appointments with renowned specialists at Tier-3 Grade-A hospitals, accompanied by dedicated personnel for consultation and guidance. Users need not worry about appointment availability or payment processes. The policy covers major surgical and medication costs, with outpatient reimbursement capped at RMB 15,000 and inpatient reimbursement capped at RMB 200,000, truly realizing the vision of seeking medical care without needing a wallet.

Although healthcare is one of humanity’s oldest industries, steeped in long-standing traditions, Yuan Guangbo aspires to cultivate an atmosphere akin to that of world-class internet companies. Embracing risk and pursuing aggressive growth, the company has expanded rapidly from a dozen employees to over 100—a clear testament to its momentum. Its services now cover Beijing, Shanghai, and Tianjin, with plans to enter the Guangzhou market by June next year. To foster a relaxed, free, and creatively charged internet-style culture, Yuan has introduced several innovative initiatives, such as locating the office near the Yonghe Lama Temple, providing “snack-based healthcare” benefits for employees, hiring “puppy morale boosters,” and implementing flexible working hours for programmers. Confidently, Yuan Guangbo stated, “Chuan Taiyi is driving significant change in today’s healthcare industry, not only in its business model but also in its corporate culture.”

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