GC MediAI (032620), the digital health affiliate of GC Green Cross Group, is pushing to become a medical platform company by adding artificial intelligence to Uisarang, South Korea's top electronic medical record (EMR) system. The company plans to build on an existing EMR base of 16,000 hospitals and clinics nationwide to diversify revenue into AI-assisted care, medical data and marketing.
GC MediAI unveiled the mid- to long-term strategy at a media day held on the 26th at the Conrad Seoul in Yeouido, Seoul. Uisarang AI, commercialized last month, is an AI clinical solution that cuts repetitive tasks during consultations so medical staff can focus on communicating with patients.
Using speech recognition tailored to medical terminology, the system records conversations between doctors and patients in real time and analyzes them to suggest suitable diagnosis codes and prescription candidates. It also summarizes key information from accumulated treatment and test records, flags patients who need follow-up visits, and allows users to search patient status and management metrics in natural language.
GC MediAI's strength lies in the medical network it has built over 30 years, covering more than 16,000 hospitals and clinics and about 8,000 pharmacies nationwide. To maximize the reach of Uisarang AI, the company will offer the service free of charge through the end of the year.
The shift in the revenue model is expected to gather pace with the launch of the next-generation EMR, Uisarang Cloud, in March next year. The company aims to secure recurring revenue through cloud subscription fees and charges for add-on AI services, while strengthening data and marketing businesses that draw on its network of medical institutions.
Earnings are also improving to support the business transition. On a consolidated basis, GC MediAI posted first-half revenue of 101.4 billion won and operating profit of 6.2 billion won, up 7.9% and 302.3% from a year earlier. In May, the company set a full-year consolidated operating profit target of 13.5 billion won, an 80% increase from the previous year.
"Considering this year's earnings growth, we expect to comfortably exceed the consolidated operating profit target of 13.5 billion won," CEO Kim Jin-tae said. "We will connect Uisarang AI and the Uisarang EMR to a range of services and expand them into a medical OS that runs primary care."
