MedMatrix Go-to-Market Pricing Announced for AI Product Suite Addressing US$726 Billion Market

VANCOUVER, British Columbia, March 05, 2024 (GLOBE NEWSWIRE) -- MedBright AI Investments Inc. (the “Company” or “MedBright”) (CSE:MBAI, OTCQB:MBAIF, FSE:1V7) today announced that MedMatrix, a product in which it has a significant investment, has announced the go-to-market pricing for both existing beta customers and new customers for its AI product suite. Last week, the MedMatrix AI five-feature product suite was announced to sell into the global outpatient clinic market.

MedMatrix harnesses the power of artificial intelligence to evaluate and analyze key aspects of healthcare facilities, including patient needs, provider & resource matching and optimization, revenue cycle management, market competition and expansion, and patient revenue enhancement opportunities.

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.¹ The US market, which is the primary focus of the MedMatrix product, is expected to account for revenue of US$729.30 billion in 2024.¹

Through its advanced AI and data analytics capabilities, MedMatrix would have historically captured revenue and efficiency opportunities for clinics it has evaluated with a value proposition that amounts to approximately 1-3% of total annual revenues for these clinics.

MedMatrix currently offers services to clinics with over $100 million in clinical revenue. With the launch of the final commercial product suite and pricing schedule, MedBright’s management is turning its attention to offering MedMatrix’s services to additional clinics.

The MedMatrix Pricing Schedule
The MedMatrix pricing schedule is designed to allow providers to use the service without any upfront cost to prove out the benefit from both the MedMatrix Reporter and the revenue capture modules. MedMatrix also includes a free trial without any commitment so providers can see the results of the five feature product suite before committing to using the tool.

• $199 per month per provider for the AI Reporter with a minimum of $550 per month per clinic starting 90 days after execution of the contract. The AI Reporter provides data reporting from the MedMatrix AI analytics platform, a complete dashboard of a clinic’s operations, and the MedMatrix forecaster, which allows customers to see how changes to the clinic’s resource matching, revenue models, and market locations and competition could improve business operations.
• An additional $49 per month per provider for the AI Resource Matcher with a minimum of $125 per month per clinic starting 90 days after the execution of the contract. The AI Resource Matcher acts as a virtual assistant to front office administration, analyzing patient needs at the time of scheduling and matching them to the appropriate resource within the clinic. The Resource Matcher can dynamically assign appointment durations and times based on need, while helping predict late or no-show patients to improve clinic on-time performance and overall efficiency.
• 10% of all additional revenue generated by the revenue generating tools starting 6 months after the contract is executed. These tools are:
  • AI Market Expander – analyzes providers’ current clinic locations and allows them to assess the potential demand in the market based on patient demographics, competition, facility costs, and other key factors. Providers can simulate facility moves or expansion of additional clinics to predict the impact on their top and bottom line. The Market Expander also includes the ability to identify top candidates for conversion into the clinic based on their demographics and preferences.
  • AI Claim Optimizer – analyzes a clinic’s claim data to look at key performance indicators for revenue cycle management and analyzes top reasons for claim denials and areas for improvement in coding, charge capture, claim processing, and revenue cycle management workflows.
  • AI Revenue Enhancer – finds opportunities for revenue growth based on a clinic’s existing patient base and revenue models. These can include identification of patient upsell opportunities for non-medical procedures, patient clinical trial recruitment, concierge medicine upsell opportunities, and other revenue generating products and services.

“MedMatrix operates in a huge and growing trillion-dollar market,” said Trevor Vieweg, CEO of MedBright. “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.”