With the implementation of numerous favourable policies tailored to facilitate the growth of private healthcare services in the past few years, the Private Hospitals are much better positioned for the next stage of growth in China. Among them, the most meaningful element is the proposal to consolidate the retirement benefits and medical insurance of government employees with those of the private sectors.
The number of private hospitals increased to 12,500 in 2014 from 2005, representing a CAGR 2005-14 of 16% vs. 2% for public hospitals in the same period. Private hospitals in China are mostly small and mediocre in terms of facilities and services. The research report expects further investment of private capital in the healthcare service sector would allow the number of higher-tier private hospitals to increase.
In 2014, growth of insurance premiums (fund inflow) was 41% for commercial insurance, significantly higher than the 18% for the three government-managed insurance programs combined. The research report anticipates commercial insurance fund inflow will continue to outgrow public insurance programs. With public reimbursement funding facing growth deceleration, commercial insurance represents a strong growth driver for the service sector.
The ophthalmology service industry reached RMB 54 bn in 2014 at a CAGR 2005-2014 of 19%. With improving efficiency and expertise, eye specialty hospitals outgrew the overall ophthalmology. However, general hospitals still captured the majority market share. With increasing demand for cataract surgery and the world’s largest myopia population, China ophthalmology service industry will deliver sustainable growth over the medium term.
The market size for the dental service industry reached RMB 47.6 bn in 2014 from RMB16.9bn in 2007, representing a CAGR of 16% in the period. This was driven by stable growth from patient traffic and ASP. The market would grow steadily to reach about RMB 82 bn in 2018 due to higher awareness in dental care and increasing aesthetic demand.
As the largest private ophthalmology service provider in China, Aier is well positioned to enter the next growth stage to morph into a national leader from a regional operator. With 100 hospitals at present, Aier targets 200 facilities by 2017. The replicable business model and brand recognition would lead to rapid expansion, while economy of scale and stock incentive program are likely to improve profitability.
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As one of the top-three players in the Chinese dental service market, Topchoice has achieved rapid growth by focusing on its home market in Zhejiang province. In order to transform itself into a national bellwether from a regional leader, Topchoice has invested heavily in the past three years by expanding its geographical footprint beyond Zhejiang and increasing the capacity of its existing facilities.
China Private Hospital Industry Research Report, 2015-2016 List of Charts includes
Indicative targets by the government on healthcare resources
Policies on encouraging private investment in healthcare services industry in China
Commercial healthcare insurance in China, 2007-2015 (in RMB bn)
Three public reimbursements combined in China, 2005-2014 (in RMB bn)
Insurance inflow in China, 2008-2014 (in %)
Insurance outflow in China, 2008-2014 (in %)
NRCMS, inflow and outflow growth, 2009-2014
URBMI, inflow and outflow growth, 2009-2014
UEBMI, inflow and outflow growth, 2009-2014
Progress of consolidation of NRCMS and URBMI for all provinces
Number of Public and Private Hospitals in China, 2005-2014
Market Share of the Number of Hospitals, 2005-2014
Number of hospital beds in China, 2005-2014
Market share of hospital beds, 2005-2014
Outpatients in China’s private and public hospitals, 2005-1-9, 2015
Inpatients in China’s private and public hospitals, 2005-1-9, 2015
Outpatients in China’s private and public hospitals, 2008-1-9, 2015
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Inpatients in China’s private and public hospitals, 2008-1-9, 2015
Bed utilization rate in 2005-2014
ALOS (days) for public and private hospitals, 2005-2014
Doctors and assistant doctors in private and public hospitals, 2008-2014
Nurses in private and public hospitals, 2008-2014
Doctors and assistant doctors/thousands of patients in private and public hospitals, 2010-2014
Nurses/thousands of patients in private and public hospitals, 2010-2014
China’s private and public hospitals in 2014 (in terms of hospital tiers)
China’s private hospitals in 2014 (in terms of hospital size)
China’s non-profit and for-profit private hospitals in 2005-2014
China’s private and public hospitals in 2014 (in no. of beds by types)
China’s hospital breakdown in 2014 (by province)
China’s hospital beds’ breakdown in 2014 (by province)
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