Web help for going under the knife
The website saw a fast increase in registered users, so Soyoung launched its app in late 2013. Downloads increased to 300,000 in six months.
In July 2014, Soyoung added an online shopping service, because Jin saw an opportunity in the industry's unregulated pricing system.
Jin says private hospitals have no set price list, and the cost of the same surgery at a hospital by the same doctors can fluctuate widely.
This is because most private hospitals have to spend a large proportion of their revenue on advertising and commission for salespeople to attract customers.
To make money, they often set their price as high as customers can afford, Jin says.
Soyoung invites qualified plastic surgery hospitals and clinics to sell their services on the website and app without charging a commission.
Unlike traditional intermediary agencies that make money only from taking commissions, Soyoung has a large number of users, which enables it to make money in different ways, Jin says.
The company is also keen to start a paid-for service to hospitals and clinics to help them crunch data and offer consultancy.
There is also profit in developing a financial service, because a large amount of money is paid through the company to plastic surgery hospitals and clinics daily.
The owner of a private plastic surgery clinic in Beijing, who asked to remain anonymous, says Jin's product improves the flow of information between patients and hospitals and is valuable to patients, but says it will be difficult for Jin to carry out the profit-making strategies, because it is difficult to persuade hospitals and patients to adopt new practices.
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