Aiming to revolutionize outpatient clinical services, a US$729.30 billion market, MedBright AI's (MBAI.c MBAIF) industry-leading and AI-powered data analytics platform MedMatrix recently unveiled significant developments in its growth path.
Advanced Analytics & Personalized Care
The MedMatrix Artificial Intelligence platform analyzes crucial aspects of healthcare facilities and works alongside healthcare professionals to drastically improve healthcare operations with the potential to enhance clinic revenue by 10% at no additional cost to the clinic.
Demonstrating its substantial scalability and vast addressable market, 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.
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.
Five-Feature Product Suite
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:
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AI Reporter: Data reporting from AI analytics platform, a complete dashboard of a clinic's operations and the MedMatrix forecaster
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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.
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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
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AI Claim Optimizer: Analyzes a clinic's claim data to look at key performance indicators for revenue cycle management
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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.”
Powering Clinic Expansion in California
Marking a pivotal step in transforming outpatient clinic services, the MedMatrix AI Market Expander was recently adopted by a Southern California Clinic to launch the opening of its new clinic location.
Plus, the Clinic is expected to continue using the MedMatrix Reporter and Market Expander as they research facility options before finalizing the next clinic location.
Having demonstrated the vast addressable market and ability to rapidly scale, MBAI could quickly see multiples from successfully solving even a small percentage of the addressable market.
Posted on Behalf of MedBright AI Investments Inc.