May 31, 2024 03:01 AM
TECH
JD Health’s Family Doctor Service Absorbed by Core Units as Profits Take Turn for the Worse
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JD Health launched the family doctor services in August 2020, offering 24/7 online medical consultations.
JD Health, the healthcare unit of JD.com, has pulled its “family doctor” services and is overhauling its corporate structure after a sharp fall in profit in the first quarter.
Integration of the family doctor business into internet healthcare and corporate business units will not involve any layoffs and aims to make better use of resources, the company said.
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- JD Health is restructuring its corporate structure and integrating its “family doctor” services after a 38.7% drop in operating profit and a 4.9% drop in revenue in Q1.
- The restructuring aims to better utilize resources without layoffs, allowing customers to still access medical consultations via its internet healthcare platform.
- Despite launching various health packages in 2020, individual willingness to pay remains low, with revenue primarily driven by medicine and health product sales.
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Who’s Who
- JD Health
- JD Health, the healthcare unit of JD.com, is integrating its "family doctor" services into its internet healthcare and corporate business units following a significant 38.7% drop in operating profit in Q1. The restructuring aims to optimize resources without layoffs. The "family doctor" service offered 24/7 online medical consultations since August 2020, including specialized packages for elderly care and health management. The majority of JD Health’s revenue comes from the sale of medicines and health products.
- JD.com
- JD Health is the healthcare unit of JD.com. The company is restructuring after a 38.7% fall in operating profit and a 4.9% revenue drop in the first quarter. JD Health predominantly generates revenue from the sale of medicines and health products, contributing over 85% in 2023. The restructuring aims to integrate its family doctor services into its internet healthcare and corporate business units without any layoffs.
- Ping An Good Doctor
- Ping An Good Doctor, a competitor of JD Health, has explored family doctor membership products since the second half of 2020, driven by increased demand during the pandemic. However, the move to paid membership faced challenges, and internet medical care growth has slowed significantly. As a result, Ping An Good Doctor has announced large-scale layoffs.
- haodf.com
- Haodf.com, a competitor of JD Health, has explored family doctor membership products since the second half of 2020 due to increased demand during the pandemic. However, the move to paid membership has faced challenges, and the growth of internet medical care has slowed significantly. This has led to haodf.com announcing large-scale layoffs.
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What Happened When
- August 2020：
- JD Health launched the family doctor service, offering 24/7 online medical consultations.
- December 2020：
- JD Health had its IPO.
- 2023：
- Medicine and health products contributed to more than 85% of JD Health's revenue.
- First quarter of 2024：
- JD Health reported a 38.7% fall in operating profit and a 4.9% drop in revenue.
AI generated, for reference only
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