Zhongchao Inc. Releases Survey Results for Bone Marrow Cancer Patient Services with More than 80% Patients Indicating Full Satisfaction

SHANGHAI, March 13, 2023 /PRNewswire/– Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a platform-based internet technology company offering services to patients with oncology and other major diseases, today announced the survey results of bone marrow patient services provided by Zhongxin Health, a platform of Shanghai Zhongxin Medical Technology Co., Ltd., one of the companies that Zhongchao consolidates the financial and operations results with through a certain contractual arrangements. The survey revealed that approximately 80.6% of patients gave full marks to the patient services provided by Zhongxin Health platform.

Zhongxin Health provides rehabilitation knowledge, medication management, medication assistance, out-of-hospital rehabilitation support, and other services to patients with cancer and rare disease patients majorly through WeChat Mini Program and WeChat Public Account channels, helping patients improve treatment effects and quality of life.

Bone marrow cancer is one of the top three blood system malignancies in China. With more treatment options available in recent years, patients’ survival rates have improved, and their demands for disease management have increased. The survey was conducted in December 2022, with more than 400 bone marrow cancer patients from 139 cities in China using Zhongxin Health platform participating. Among them, approximately 24.5% of patients were diagnosed within the past one year, while approximately 45.8% of patients had been diagnosed for one to three years.

The survey results indicate that majority of the patients found it useful and were satisfied with the services provided via Zhongxin Health platform. Approximately 75.5% of bone marrow cancer patients improved their understanding of the disease through the services provided by the Zhongxin Health platform, while approximately 59.1% of patients increased their confidence in treatment. The average score for patient service evaluations on a scale of 1 to 5 was 4.69, with approximately 80.6% of patients giving the highest rating, and approximately79.0% of patients willing to recommend the platform to more patients.

Additionally, the survey results reflected that there is still a huge market demand for bone marrow cancer patient services. Approximately 67.8% of patients like to obtain knowledge about drug treatment, transplantation, adverse reaction management and others through the platform, approximately 65.2% of patients hope to learn about medical insurance and policy related information, approximately 51.6% of patients are interested in diet and nutrition guidance, approximately 43.2% of patients like to obtain home care knowledge, approximately 35.5% of patients are interested in exercise guidance, and approximately 22.7% of patients hope to hear about other patients’ stories.

Most of the content that patients are interested in can be found on the WeChat Mini-Program of Zhongxin Health. Zhongchao looks forward that Zhongxin Health will further improve patient services based on patient recognition and feedbacks to meet patients’ needs. Weiguang Yang, Chairman and Chief Executive Officer of Zhongchao, commented, "we are pleased to see that the services provided by Zhongxin Health have been recognized by the majority of bone marrow cancer patients on the platform. We will continue to improve our services to provide patients with comprehensive and high-quality services and supports."

About Zhongchao Inc.

Zhongchao Inc. is an offshore holding company incorporated in the Cayman Islands. It conducts operations in China through the contractual arrangements between its wholly owned subsidiary and PRC operating entities. Zhongchao Inc. is a platform-based internet technology company offering services to patients with oncology and other major diseases. The PRC operating entities provide online healthcare information, professional training and educational services to healthcare professionals under their "MDMOOC" platform (www.mdmooc.org), offer patient management services in the professional field of tumor and rare diseases through Zhongxin, offer internet healthcare services through Zhixun Internet Hospital, and pharmaceutical services through Xinjiang Medical and operate an online information platform, Sunshine Health Forums, to general public. More information about the Company can be found at its investor relations website at http://izcmd.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the professional training and educational services market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC, the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

At the Company: Pei Xu, CFO
Email: xupei@mdmooc.org
Phone: +86 13901629242

Investor Relations: Sherry Zheng 
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386

Source: Zhongchao Inc. Releases Survey Results for Bone Marrow Cancer Patient Services with More than 80% Patients Indicating Full Satisfaction