RedBlock is helping Xiuzheng improve efficiency within China's healthcare industry
Healthcare industry innovation and digitization in the post-pandemic era
Challenges posed by the pandemic
Because of the systemic strain caused by the COVID-19 pandemic, industries around the world are facing unprecedented challenges. On the supply side, the short-term interruptions in manufacturing and supply chains have resulted in direct losses and restart costs to businesses. On the demand side, the pandemic has changed consumers’ wants and needs. With old systems being tested and stressed, and consumers’ demands shifting, the old ways of doing things may very well be on their way out. And retail may very well lead the way of current enterprise innovation and reform.
A Healthy China
Because of the increase in recent consumer demands and the stresses that the pandemic has brought to existing healthcare systems, it has become clear that the development of health and retail sectors will be a core focus in the years to come. To meet these challenges, China has implemented the “Outline of the Healthy China 2030 Plan” and the “National Nutrition Plan (2017–2030)”. Both indicate that the development of new forms of health services and the strengthening of information technologies should act as guidelines for how to promote the construction of a healthy China in the next 15 years.
Part of this plan to further develop China’s healthcare industry involves the country’s pharmaceutical supply chain. The new retail division of Xiuzheng Pharmaceutical Co., Ltd, dubbed Qingxiu, together with its strategic partners, has created the Xiuzheng Smart Medicine Cabinet to bring efficiency to this supply chain.
Xiuzheng Pharmaceutical Group (referred to as Xiuzheng Pharmaceutical) is a large-scale modern private enterprise integrating scientific research, production and marketing. The group has 66 wholly-owned subsidiaries with more than 80,000 employees, and 7.5 billion yuan in assets. Since 2004, the company has ranked first in the profit ranking of Chinese traditional medicine enterprises, and its sales and profit rank top ten in China’s pharmaceutical industry. In 2010, it achieved an output value of 16.9 billion yuan and sales revenue of 17.1 billion yuan. From 2000 to 2010, its total sales revenue reached 55.22 billion yuan.
Xiuzheng Qingxiu, the retail subsidiary of Xianxiu Pharmaceutical, has a profound medical background and strong technical capabilities. This allows the outfit to take on undertakings such as industrial chain integration, cross-industry innovation and the active exploration of new pharmaceutical retail methods, which is closely in line with China’s goals of creating a healthier nation. From this team, its expertise, and the context it operates within, comes the Xiuezheng Smart Medicine Cabinet.
About the Xiuzheng Smart Medicine Cabinet
The Xiuzheng Smart Medicine Cabinet is a new healthcare platform that integrates cloud computing, the Internet of Things, and the digitization of rights and interests. Created by Xiuzheng Qingxiu, the smart medicine cabinet brings efficiency to medicine preparation and distribution, as well as pharmacy inventory management. It also tackles the difficulty of buying medicine at night, creating a new benchmark for the pharmaceutical supply chain.
The Xiuzheng Smart Medicine Cabinet is the combination of a physical drugstore and self-service drug dispenser. Each unit corresponds to a physical drugstore, and the medication is directly supplied by Xiuzheng Pharmaceutical. With its 24-hour convenience and reliability, the Xiuzheng Smart Medicine Cabinet is truly revolutionizing the pharmaceutical supply chain.
Moreover, by cooperating with WeMedical Group, this product is able to integrate services such as online consultation and offline drug purchases. The Smart Medicine Cabinet is also integrated with telehealth services for family doctors as well as family medicine kits. Not only this, but delivery services Meituan and Ele.me are providing drug delivery, granting the last mile delivery portion of the pharmaceutical supply chain vastly improved efficiency.
Empowering innovation through digitization, and improving the pharmaceutical supply chain
The Xiuzheng Smart Medicine Cabinet adopts a more agile, more fair and credible resource value distribution method, combined with the digitization of rights and exclusive mining mechanisms, to empower its users. One smart medicine cabinet is linked to 1 cloud mining machine. After purchasing the smart medicine cabinet, a user can log in to the associated app to activate the computing power of the cloud mining machine and start earning revenue. In this way, each user in the Smart Medicine Cabinet’s ecosystem is incentivized to contribute to its operation and management, making for a healthy supply chain cycle.
In the short and medium term, the digital applications of the Smart Medicine Cabinet will improve the efficiency on the front of supply, demand and circulation within the pharmaceutical ecosystem. It will also help the pharmaceutical industry quickly stop and recoup its current losses. In the long term, it will play a prominent role in integrating doctor-patient data, enhancing doctor-patient trust, connecting medical services, providing rights and interests protection, and improving the resilience of the health industry’s economy.
How RedBlock is helping Xiuzheng
RedBlock has always focused on promoting asset digitization and strengthening the use cases for blockchain technology, and the latest application scenario for blockchain technology is the unmanned (self-service) retail sector.
Healthcare is a major industry in China, and will grow substantially in the coming years. RedBlock, together with its partner, Xinghe Gongchuang, has been fully involved in the digital applications of the Xiuzheng Smart Medicine Cabinet, providing resources and technical support, designing the project’s token economy, and aiding in the planning of its market strategy.
1. Xiuzheng Website: http://www.xiuzheng.com/
2. Xiuzheng Smart Medicine Cabinet: Innovation in the medical industry in the post-pandemic era; the Xiuzheng Smart Medicine Cabinet boosts the development of the healthcare Industry
3. “Healthy China 2030” Outline