One week's view: accelerate the full coverage of DRG / Dip payment reform and promote the high-quality development of medical institutions
On November 26, 2021, the National Medical Security Bureau issued the notice of the National Medical Security Bureau on printing and distributing the three-year action plan for DRG / Dip payment reform, accelerated the establishment of a functional and efficient medical insurance payment mechanism, and accelerated the full coverage of DRG / Dip payment reform on the basis of the preliminary results achieved in the pilot from 2019 to 2021. The management of inpatient medical expenses based on DRGs can monitor the sub average expenses and their composition of various diseases, make the cost control work suit the remedy to the case, so as to force the hospital to improve the quality of medical service, realize the refinement of management, promote the hospital to shorten the average length of stay and improve the efficiency of medical service by adjusting the structure and optimizing the process. In this trend, small and medium-sized private hospitals may encounter some difficulties in adjusting hospital operation due to the lack of standardized management, and medical service leaders are expected to respond to the reform quickly by virtue of their long-term established brand strength, strong doctor team, fine management ability, differentiated service projects and other core competitiveness. In addition, they will jointly promote the "dual channel" mechanism in the reform process, Form a positive superposition effect and benefit drugstore leaders.
One week's view: the adjustment of medical insurance drug catalogue is implemented, and the "cage for bird" continues to be promoted
On December 3, the national medical insurance administration announced the adjustment list, the 2021 version of the national medical insurance drug catalog was officially released, and the adjustment of the medical insurance drug catalog was implemented. In terms of the negotiation, 67 kinds of exclusive drugs outside the catalogue were successfully negotiated, with an average price reduction of 61.71%. Looking back on previous negotiations, the overall decline was stable, and the decline was basically the same as that in the previous period. We believe that the pricing of drugs is complex, and the apparent decline can be used as a reference. The core concern is whether the sales and profits of enterprises can grow rapidly after being included in medical insurance. Review the market situation of medical insurance varieties included in the preliminary negotiations, achieve rapid growth in the sales of varieties after entering the medical insurance, and accelerate the commercialization process of new drugs.
We believe that with the increasingly standardized clinical medication management, entering the medical insurance catalogue is the best way to quickly commercialize innovative drugs at this stage, especially for biotech companies with insufficient commercialization ability. It is expected that Jiangsu Hengrui Medicine Co.Ltd(600276) , Haosen pharmaceutical, Rongchang biology, Shanghai Allist Pharmaceuticals Co.Ltd(688578) , Betta Pharmaceuticals Co.Ltd(300558) , Baiji Shenzhou, Xinda biology After the relevant varieties of innovative drug companies such as Shanghai Junshi Biosciences Co.Ltd(688180) enter the medical insurance, it is expected to rapidly increase the quantity and accelerate the commercialization process of varieties.
At the same time, investment opportunities in the innovative drug industry chain are recommended. We believe that the negotiation on normalized medical insurance will continue to promote the "cage for bird" of medical funds, keep the general direction of encouraging drug innovation unchanged, and continue to benefit varieties and related industrial chains that really meet clinical needs and have high accessibility.
Recommended and beneficial objects
Recommended targets: Intco Medical Technology Co.Ltd(300677) , Shenzhen Changhong Technology Co.Ltd(300151) , Shenzhen Kangtai Biological Products Co.Ltd(300601) , Pharmablock Sciences (Nanjing) Inc(300725) , Shanghai Haoyuan Chemexpress Co.Ltd(688131) , Apeloa Pharmaceutical Co.Ltd(000739) , Xi'An International Medical Investment Company Limited(000516) , Emperor's palace, Inkon Life Technology Co.Ltd(300143) , Guizhou Xinbang Pharmaceutical Co.Ltd(002390) , Jinxin reproduction, Xiangyumedicalco.Ltd(688626) , Yifeng Pharmacy Chain Co.Ltd(603939) , Lbx Pharmacy Chain Joint Stock Company(603883) , Henan Lingrui Pharmaceutical Co.Ltd(600285) (the above rankings are not in order).
Beneficiary objects: Andon Health Co.Ltd(002432) , Chongqing Zhifei Biological Products Co.Ltd(300122) , Cansino Biologics Inc(688185) biology, Walvax Biotechnology Co.Ltd(300142) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , Changchun Bcht Biotechnology Co(688276) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , Guangzhou Kingmed Diagnostics Group Co.Ltd(603882) , Daan Gene Co.Ltd(002030) , Dian Diagnostics Group Co.Ltd(300244) , Ningbo Sanxing Medical Electric Co.Ltd(601567) , Dashenlin Pharmaceutical Group Co.Ltd(603233) , Yixintang Pharmaceutical Group Co.Ltd(002727) , Yunnan Jianzhijia Health-Chain Co.Ltd(605266) , Joinn Laboratories (China) Co.Ltd(603127) , Shanghai Medicilon Inc(688202) , Wuxi Apptec Co.Ltd(603259) , Pharmaron Beijing Co.Ltd(300759) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) , Hangzhou Tigermed Consulting Co.Ltd(300347) , Porton Pharma Solutions Ltd(300363) , {603456.
Risk tip: the black swan incident and the deterioration of the epidemic situation in the industry affect production and operation.
