On February 16, the National Health Commission issued the reply to recommendation No. 10294 of the fourth session of the 13th National People’s Congress, suggesting that the National Health Commission attaches great importance to the national health and medical big data service and is studying the establishment of a national unified electronic health record, electronic medical record, drugs and devices Public health, medical services, medical insurance and other information standard systems, and gradually realize interconnection, information sharing and business collaboration. We believe that the unified electronic medical record standard will first involve the unified structure and interface standardization of hospital data. In order to achieve the unified standard of hospital electronic medical record, the hospital is expected to further strengthen the incremental construction of electronic medical record, the electronic medical record is expected to usher in centralized improvement, and the head manufacturers will have stronger standard setting power and bargaining power.
Pay equal attention to data sharing and data security, and medical big data is popular
(1) in terms of data sharing, hospital end and bureau end data are interconnected, and the informatization construction of hospital / public health / medical insurance will be accelerated as a whole. It is proposed in the document that the health commission is responsible for establishing an open sharing mechanism of health care big data, coordinating the construction of resource directory system and data sharing and exchange system, and strengthening the service and management of health care big data in the whole life cycle. We believe that a unified information standard system will promote the flow of medical information in different systems. Driven by this, the interconnection between the hospital end and the health commission / Medical Insurance Bureau end around medical data is expected to accelerate, and the upgrade of DRGs system guided by this is also expected to speed up.
(2) in terms of data security, the regulatory requirements for medical big data are further clarified, and the industry space is expected to be opened. According to the document, the National Health Commission attaches great importance to the information security of electronic medical records, gradually improves the information security guarantee system, ensures the information security of patient medical records through digital means, and prevents the leakage and embezzlement of personal medical records. Strengthen the security requirements for the transmission and application of confidential medical information, strengthen the supervision of the application of medical records and other key information, and strengthen the security requirements for the transmission and application of patient sensitive data in domestic medical institutions, Establish and improve the security assessment system for external sharing of patient information and other sensitive data to ensure information security. We believe that medical data is the value basis of the industry. The development of innovative products around medical data is the main future direction of Companies in the industry. Medical big data is expected to develop significantly after the policy and supervision are clear.
(3) with the rise of medical big data, leading hospitals are expected to lead the construction. The state has put forward a number of rating requirements for electronic medical records and connectivity, and the reform of medical insurance DRG payment is also to promote medical insurance fee control through big data. We believe that a series of policy actions focus on the value creation and value play of medical data, and China’s leading hospitals are expected to lead a new round of medical big data construction. Medical big data has become an important driving track for medical technology companies in the primary market. Popular companies in the primary market have emerged, such as Yidu technology, Lianren health (Jiahe Meikang shares), senyi intelligence and so on. It is expected that the industrial value of medical big data will continue to highlight, and EMR / medical big data professional companies are expected to benefit significantly.
Investment suggestion: the policy of medical IT sector continues to catalyze, the boom is expected to rebound, and the construction of medical big data is expected to accelerate under the guidance of industry leading hospitals. It is suggested to pay attention to: (1) subjects related to medical big data, Jiahe Meikang (leader of electronic medical record) and Yidu Technology (leader of medical big data). (2) The targets of traditional medical informatization are B-Soft Co.Ltd(300451) (underestimated value and high performance growth), Winning Health Technology Group Co.Ltd(300253) (reversal of industry leaders’ dilemma), Sichuan Jiuyuan Yinhai Software Co.Ltd(002777) (high performance growth under the construction of medical insurance DRG).
Risk tip: the expenditure of medical informatization is less than expected, and the supervision risk of medical big data policy
