Planting a tooth is equivalent to buying a BMW! The profiteering of the overall strategy of "tooth hair"

A few years ago, there was an online selection activity with an exaggerated name:

Ten industries that make more money than drug trafficking.

The top three industries on this list are beyond many people's expectations:

Dentistry, milk tea, glasses.

It has been calculated that there are 654.38+04 billion people in China, with an average of 22 teeth in one mouth, making a total of 30 billion teeth.

Any business multiplied by 65.438+0.4 billion is an unimaginable big market, let alone teeth.

1

"Planting a tooth is equivalent to buying a BMW."

The "dental crisis" is far more serious than we thought.

From 2065438 to September 2007, the fourth national oral health epidemiological survey released by the former National Health and Family Planning Commission showed that the periodontal status of middle-aged and elderly people in China was poor, with 6-9 missing teeth per capita. Among them, the rate of missing teeth among young and middle-aged people (35~44 years old) is about 36.4%; The situation of the elderly (65~74 years old) is more serious, and the rate of missing teeth is 86%.

More exaggerated data comes from the 20 19 White Paper on Eating Habits and Oral Health, which shows that the population with oral problems in China is as high as 93%. In other words:

On average, only 7 out of every 100 people have normal oral cavity.

Hot, cold, sweet and sour, dare not eat indiscriminately, the pain in the middle of the night is unbearable, and it also affects the image ... Everyone who is troubled by teeth has had the impulse to pull out teeth and change teeth.

Especially for young people, some people even make fun of them. Baldness, forgetfulness, long spots, waist waste, after this session of 90, there are no teeth.

When you made up your mind to go to the dentist and came to the dental clinic, you were dumbfounded-

In the media reports, there are many examples of spending a lot of money to change teeth:

20 19 Zhao Yuguo (a pseudonym) from Shanghai planted two teeth and spent more than 60,000 yuan.

In 20 18, Yu Hao (pseudonym) planned to plant 1 porcelain tooth, with a total cost of nearly 30,000 yuan, equivalent to his salary of nearly three months at that time.

In 20 17, 52-year-old Ms. Zhou went to the Stomatological Hospital of Wuhan University to implant teeth. She had 14 kinds of dental implants and fixed 28 teeth, which cost nearly 200,000 yuan. ...

Even Professor Ye Lin, a member of the Chinese People's Political Consultative Conference and vice president of Peking University College of Stomatology, said with emotion:

Planting a mouthful is enough to buy a BMW!

A BMW costs about 400,000 RMB. In many counties, the money can be used to buy a suite in full.

At a time when the monthly income of 600 million people is less than 1000 yuan, dental care is simply sky-high.

Moreover, because half or even more than 60% of dentists are young people now, the topic of "post-90s orthodontics bankruptcy" once jumped into hot search in Weibo a few years ago.

According to the data of China Stomatology Industry Report 2020, the number of dental implants in China will reach about 4.06 million in 2020, which is one of the fastest growing dental implant markets in the world, with a market scale of nearly 654.38+060 billion yuan.

Behind this160 billion, there are countless people's teeth piled up with real money.

"Don't look at your teeth, it hurts; I feel distressed after reading my teeth. "

-I'm afraid this is the truest portrayal of their hearts.

2

What is the price of dental implants?

Faced with such a high price, many people hold their teeth back: this tooth is much more valuable than gold!

Dental implants, why are they so expensive?

In order to find the answer to this question, I stripped the upstream and downstream of the dental implant.

This industry can be roughly divided into three parts:

Upstream: equipment and consumables enterprises

Midstream: equipment dealer

Downstream: dental medical institutions

Tuyuan trunk network

In this industrial chain, the upstream dental materials are extremely expensive.

A hard reality is that at present, 90% of dental implants in China are monopolized by Swiss, German and Korean brands due to technical barriers. Among them, the price of ITI implants in Switzerland is about 6000-20000 yuan; The price of Germany BEGO implant is 5000- 10000 yuan; South Korea's low-end JUST implant costs 5000-8000 yuan.

In addition to the high cost of imported teeth, dental implants have to go through manufacturers, national general agents, prefecture-level city agents, bidding agencies, hospitals and many other links to reach consumers, and the soaring price is inevitable.

Downstream, the cost mainly comes from dentists.

In the eyes of many people, the dentist's job is nothing more than pulling out a tooth and installing a tooth, which is very simple. But in fact, dentists, like other doctors, are very professional and have high training costs.

Professional dentists must receive long-term training:

10 master's degree+more than 3 years of clinical and compliance training, totaling 13 years or more. What's more, the study time is as long as 16- 17 years.

In addition, oral diagnosis and treatment is also a long-term work, and the work intensity is high, and the turnover rate of oral surgery cannot be reduced every day. During the epidemic, dentistry was one of the longest medical services, because

Doctors will make saliva and blood into droplets when grinding their teeth. Once a patient carries any infectious virus, the risk of clinical cross-infection is extremely high.

In addition to the high cost of training, the more critical reason is scarcity.

China Health and Family Planning Statistical Yearbook 20 17 shows that there are 167227 dental practitioners (including assistant doctors) in China, accounting for 5.3% of all medical practitioners (including assistant doctors), with an average of 16.7 dentists per100000 people, far from it.

The high cost and scarcity of dental talents make their fees very high.

This can also be seen in the financial report of Tongce Medical, a leading enterprise in stomatological hospitals. Its operating cost is about 55% for a long time, and the main components of operating cost are product materials and medical staff salaries, of which medical staff salaries can account for 70% of operating costs.

In other words, dentists are craftsmen who live by technology.

Another point is that dental implants, porcelain teeth, tooth cleaning, orthodontics and dental implants are basically not covered by medical insurance, because in the current concept, these projects are not treatment projects, but "medical beauty" projects.

The cost is high and medical insurance cannot be reimbursed. It is not surprising that dental implants are expensive.

three

The plummeting "tooth grass"

The business of 30 billion teeth and the market scale of 654.38+060 billion are only a small starting point.

As soon as the market expands, capital goes crazy. Open the eye search and enter the keyword "dentistry". There are as many as 27,437 related companies. There are more than 7,000 newly established enterprises in the fields of dental beauty, dental health and dental restoration.

Among them, we have to mention general policy medical care. At the end of 20 17, the share price of Tongce Medical was still hovering around 30 yuan. But at 202 1, the company's share price once soared to 320 yuan:

In just three years, the increase is close to 10 times.

Therefore, Tongce Medical is also called "Maotai in the Tooth".

But no one expected that in just over half a year, the total market value of Tongce Medical has been halved and returned to the starting point. As of February 15, 2022, the total market value of Tongce Medical was 49.962 billion, and the market value shrank by more than 80 billion yuan.

From a high point of view, the share price of Tongce Medical has fallen by more than 60%, almost back to before liberation.

It stands to reason that the dental market is so hot that Tongce Medical is a head enterprise and should be prosperous. Why did it suffer such a plunge?

Some answers can be found in the financial report of Tongce Medical.

202 1 In the first three quarters, the revenue of Tongce Medical was 265,438+36 million yuan, up 44. 16% year-on-year. Looking at the third quarter alone, the revenue increased by 65,438+02.44% year-on-year and 65,438+09.4% quarter-on-quarter, and the net profit returned to the mother increased by 5.88% year-on-year and 44.6% quarter-on-quarter.

This growth rate is ok at first glance, but it is really Waterloo because institutions generally expect at least double-digit growth.

In addition to the stall in performance, the more important reason comes from centralized procurement.

In August last year, Zhejiang Ningbo Medical Insurance Bureau issued a document entitled "Proposal on Further Defining the Payment of Dental Implant Medical Insurance Account over the Years (Draft for Comment)", which clearly mentioned:

With the goal of "adjusting the payment standard of medical insurance for dental implant projects as a whole", regarding the charging standard, it is stated that "the charging standard for dental implants of domestic brands in the catalogue is 3,000 yuan each, and the charging standard for dental implants of imported brands in the catalogue is 3,500 yuan each."

Once the price is really reduced, it will undoubtedly be a fatal blow to Tongce Medical.

According to the financial statistics of Phoenix. com, the gross profit margin of Tongce Medical in Zhejiang Province is as high as 46.9%, while the gross profit margin outside the province is only 28.3%, nearly double the difference.

More crucially, most of Tongce Medical's income comes from Zhejiang Province. In 2020, 90% of Tongce Medical will come from Zhejiang Province, and Guangkengkou Hospital will support 80% of Tongce Medical's profits.

Tu Yuan Yi ou

Once the base camp is breached, the impact on profits can be imagined. No wonder the market is so worried.

four

End of movement

Just a few days ago, Tongce Medical was on fire again.

This time it's not because of the teeth, not because of the performance, not because of the stock price, but because of the chairman.

On February 7th, Lv Jianming, chairman of Tongce Medical, sent a Weibo, revealing the dynamic of going to Jingshan Temple to burn incense and pray for blessings, but inadvertently exposed his behavior of "opening the door" to enter the temple in violation of the local epidemic prevention policy.

This wave of "Versailles" was caught by the people who ate melons. After the criticism, they all sneered:

Is there really a "Yuan" person in Buddhism?

Looking back, Tongce Medical rose through a successful restructuring of public hospitals and became the first medical service listed company in A shares. Backed by high-quality hospital assets, Tongce Medical has unique advantages in customer resources, market share and business model, and has been rewarded by the market.

But in the face of the storm of the times, "burning incense and worshiping Buddha" is useless, and forbearance is king. At present, this is true in both general practice and dentistry. Whenever this happens, I will think of what an elder said-

You think he's at the forefront, but he's at the forefront.