Today, MedBright AI (MBAI.c MBAIF) announced that a Southern California clinic has adopted MedMatrix AI Market Expander to launch the opening of its new clinic location.
The AI Market Expander tool assesses the potential demand in any given geographic market with data such as patient demographics, competition, facility costs, payor mix and several other key factors to simulate facility moves or the expansion of additional clinics to predict an optimal location, size and scale of a new clinic.
Dermatology Institute & Skin Care Center (DISCC) is using MedMatrix AI Market Expander to evaluate the opening of additional clinic locations in the Southern California region which has been invaluable for the company, as stated by Paul Yamauchi, MD, PhD:
“By rapidly simulating multiple location options, we have honed in on the desirable locations for an additional clinic, saving us months of time and increasing our confidence in moving to a high revenue generating location that meets our patient needs.”
DISCC is expected to continue using the MedMatrix Reporter and Market Expander as they research facility options before finalizing the next clinic location.
MBAI CEO, Trevor Vieweg, commented:
“We are pleased that the MedMatrix Market Expander has proved to be valuable so early into our partnership with DISCC,”
“We look forward to continuing to support DISCC with this facility move, as well as leveraging the full MedMatrix product suite to improve DISCC’s operations in all of their clinic locations.”
Revolutionizing Outpatient Clinical Services - MedMatrix
Addressing a US$726 billion market, MedMatrix is a commercialized and early-stage broadly applicable AI technology & data analytics platform.
In analyzing crucial aspects of healthcare facilities and working alongside healthcare professionals, MedMatrix can drastically improve healthcare operations and enhance clinic revenue by 10% at no additional cost to the clinic.
Notably, the global market of outpatient clinical services is expected to achieve revenue of US$1.37 trillion in 2024, with anticipated growth of 4.76% per year. Specifically however, MedMatrix is targeting the US market which is expected to account for revenue of US$729.30 billion in 2024.
Marking a pivotal step in transforming outpatient clinic services, MedMatrix is currently offering services to clinics with over $100 million in clinical revenue, however, with the launch of the final commercial product suite and pricing schedule, MBAI's is on track for substantial growth in offering its services to additional clinics.
Following the completion of beta testing, which saw the platform's adoption into 14 clinics, including a Yale University-Affiliated Clinic, MedMatrix is moving to full commercialization with a five-feature product suite identified as high value tools based on their ability to generate revenue:
1. AI Reporter: Data reporting from AI analytics platform, a complete dashboard of a clinic's operations and the MedMatrix forecaster
2. AI Market Expander: Analyzes providers' current clinic locations and allows them to assess the potential demand in the market basted on patient demographics, competition, facility costs, and other key factors.
3. AI Resource Matcher: Virtual assistant to front office administration analyzing patient needs at the time of scheduling and matching them to the appropriate resources within the clinic
4. AI Claim Optimizer: Analyzes a clinic's claim data to look at key performance indicators for revenue cycle management
5. AI Revenue Enhancer: Finds opportunities for revenue growth based on a clinic's existing patient base and revenue models
Highlighting MedMatrix's operation in a huge and growing trillion-dollar market, MBAI CEO Trevor Vieweg commented:
“We have a stellar product offering which will be available to customers both in the US and globally. With 1-3% of clinical revenue as our pricing model without any upfront costs to the clinic, we have a fantastic value proposition for our customers. Importantly, our AI-driven low-cost business model has significant operating leverage designed to deliver superior return to shareholders.”
Having demonstrated the vast addressable market and ability to rapidly scale, MBAI is could quickly see multiples from successfully solving even a small percentage of the addressable market.
Posted on Behalf of MedBright AI Investments Inc.