Technological advancements, changing demographics, the prevalence of chronic diseases and government policy directions are key trends shaping the future of healthcare globally, and the Greater Bay Area (GBA) is no exception.
Driven by rapid urbanization, an ageing population and government reform initiatives, the demand for healthcare services in the region is ever-increasing, creating a wealth of opportunities for industry players.
Founded in Hong Kong in 2014, The GBA Healthcare Group (GBAH) is a leading value-based care organization in the GBA. The group pursues a two-pronged development strategy of primary healthcare and health insurance empowerment, led by the mission to give everyone access to trusted and affordable healthcare.
By providing international standards training to more than 3,000 primary care doctors and nurses, GBAH has established nearly 200 Hong Kong-style outpatient centres in partnership with various local governments and tier-3 hospitals, thereby allowing its corporate members to access a wide range of healthcare services in cities such as Guangzhou, Shenzhen and Dongguan.
It has also gathered a team of insurance professionals who work closely with health insurance companies to design and offer insurance products that cater to the needs of policyholders for accessible, affordable and accountable healthcare services.
“Our approach is to assign a primary care doctor to every policy sold, which serves as the first point of contact for policyholders seeking healthcare support and services,” said Dr. Felix Lee, Co-CEO of GBAH. “By implementing this value-based care (VBC) business model, GBAH takes commercial risks by focusing on improving patients’ health outcomes while reducing costs and enhancing efficiency.”
The logic is simple: the healthier the policyholders are, the less insurance companies have to pay, and the more they and GBAH will benefit. “In the Mainland, particularly in the GBA, the VBC model is still in its infancy, presenting significant growth potential,” he explained. “The VBC model asks patients, providers, governments, and insurance companies new questions, such as how we should measure the value of the insurance protection and healthcare services being offered to us. Once we have agreed on what to measure, how can we innovate and deliver these values as efficiently and effectively as possible?”
GBAH joined HKGCC because it provides timely information and insights into the latest policy changes in the Mainland, thanks to its networks and communication with various local authorities. As a bridge linking the business community and the HKSAR Government, the Chamber also represents and reflects members’ views and interests, which helps ensure Hong Kong’s continued competitiveness, said Lee.
He added that the group has greatly benefited from the Chamber’s many business missions to Mainland cities. “Seeing and hearing firsthand from local businesses and government officials enables us to make informed decisions on business development and expansion.”
In the age of digital transformation, embracing cutting-edge technology is pivotal for staying ahead in the market. As a digital-first company, GBAH applies technology to almost every aspect of its business, from service delivery, such as telemedicine in cross-border diagnosis and treatment, to health record handling and payment data processing.
Based on the vast amount of medical data it processes, the company can co-create new health insurance products priced using complete and time series outpatient and inpatient clinical data. “Looking forward, we will continue to enhance our data analytics capabilities and artificial intelligence application to deliver timely, evidence-based and personalized prevention and healthcare services for our insurance partners and customers,” said Lee.
The GBA Healthcare Group
HKGCC Membership No.： HKG0671
Established：2014
Website：www.gbahealthcare.com.hk