MedMatrix Product Moves From Beta To Full Commercialization, Announces AI Product Suite

VANCOUVER, British Columbia, Feb. 27, 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 completed its beta testing with its initial clients. As a result of the beta testing period, management has chosen a five-feature product suite to sell into the global outpatient facility 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.

Through its advanced AI and data analytics capabilities, MedMatrix supports healthcare professionals to optimize each of these critical areas to capture revenue and efficiency opportunities:

1. 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.
2. 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.
3. 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.
4. 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 RCM workflows.
5. 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.

These five features have been identified as high value tools for outpatient clinics. As a next step, MedMatrix plans to unveil its revenue generating go-to-market strategy as it transitions current beta customers to commercial agreements.

“It is gratifying to complete the beta phase as we move towards the revenue generation phase of the MedMatrix product,” said Trevor Vieweg, CEO of MedBright. “We have identified these five feature sets based on their ability to generate revenue for our outpatient clinic clients, and we look forward to highlighting the use cases for these tools with our initial customers in the coming months, as well as expanding our customer base as we transition to full commercialization.”

About MedBright AI Investments Inc.

MedBright AI is a capital allocator focused on investing in healthcare technology companies. The team at MedBright prides themselves on unparalleled access to opportunities, as well as structuring unique and advantageous investments. MedBright's mission is to construct a portfolio of synergistic investments to generate superior returns for shareholders. MedBright will focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance. Click here to view the MedBright AI corporate video.

MedBright AI Investments Inc.
Trevor Vieweg, Chief Executive Officer
604-602-0001
Email: investors@medbright.ai