111, Inc. (NASDAQ: YI) ("111" or the "Company"), a leading integrated online and offline healthcare platform, announced that it has entered into a strategic partnership with Bestyoo, a prescription information sharing solutions provider in China. 111 will work with Bestyoo's third-party online prescription information transferring and sharing platform (the "Platform") to provide its users with prescription-based online drug purchase and home delivery services. Bestyoo and 111 will also jointly provide online consultation services to patients. This strategic partnership is expected to create a more standardized and feasible process for prescription information sharing and online sales of prescription drugs, bringing easy-to-access healthcare services to more patients in China.
As a leading domestic "Internet + Medicine" high-tech company in China, Bestyoo is committed to the development, promotion and application of prescription services. Bestyoo currently has one Gansu Provincial-level and six prefecture- and municipal-level platforms connecting more than 300 hospitals and covering 100 million patients.
111 Explores Ways to Standardize Online Prescription Drug Sales
111 and Bestyoo will launch their pilot Platform in Gansu Province, where China's first provincial-level "e-prescription information-sharing platform" was jointly developed by Bestyoo and the provincial health commission authority. The partnership is expected to facilitate online hospitals and online retail pharmacies in stimulating the standardization of drug prescriptions, sales review and drug delivery.
Local patients are now able to access their "e-prescription" through Bestyoo and select channels for drug purchase and follow-up consultations. 111's integrated systems will also avail patient prescription drug delivery services.
Following the implementation of the new Drug Administration Law on December 1, 2019, online prescriptions are now permitted under certain conditions. How healthcare e-commerce companies operate and serve patients under these new rules are a focal point.
Guanglei Ma, General Manager of Bestyoo commented, "Authentication and standardization are a condition precedent to sustaining a robust online prescription drug market. As part of the basic procedure for prescription drug sales, both offline and online pharmacies need to ensure the prescriptions they are receiving are authentic. Bestyoo's Platform connects to the prescription review platforms of local health commission authorities and hospital healthcare information systems (HIS). This creates a standard prescription library that provides secure prescription authentication and establishes a solid base from which we can further grow our online prescription services."
Tong Liu, SVP of Government Relations of 111 commented that , as a market leader, 111 has always placed an emphasis on strict regulatory compliance throughout its operations and the Company aims to be an industry trendsetter during this transformative phase. From a regulatory standpoint, online supervision is efficient and traceable, and information exchange and sharing will further promote standardization and the transfer of prescription information out of hospital systems. Liu points out that Bestyoo offers clear operational advantages and that its "third party", "ease-of-supervision" and "high feasibility" features all ensure the validity, authenticity and traceability of prescriptions. He believes that this strategic partnership will set the standard for compliance for online sale of prescription drugs, and provide a valuable reference point for regulators and industry players as they explore other ways to promote the standardization process of online prescription drug sales.
Leveraging the Internet to Provide Better Healthcare Services
The migration of prescriptions out of the hospital system is now a prevailing trend. Industry experts expect this migration to accelerate over the next 5 years.
Pengcheng Zhu, Co-COO of 111 commented that the "online prescription information transferring and sharing platform + medical e-commerce" model leverages the Internet and is an effective way to improve the efficiency and quality and coverage of medical...
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