MedBright AI Is Racing To Fix A $200 Billion Healthcare Problem

One of the most frustrating, time-consuming issues millions of patients have with their physicians is the waiting room. 

You may an appointment for a specific time, often told to show up about 15 minutes earlier than scheduled for paperwork. Then, you wait, watching the clock, questioning why you showed up early in the first place. 

Then, you hear your name called, thinking the waiting game is over, only to be escorted to another waiting room, where you get to stare at the walls hoping the doctor comes in quickly. And while some doctors are never on time, others aren’t often sure what services they’ll be needed for on a specific day. 

In fact, according to VeryWellHealth.com, “Understanding that it's the volume of patients and procedures, not the time spent per patient, that comprises a healthcare providers' income, it's easier to understand why they get so far behind, and why we are kept waiting.”

Fortunately, that issue is being addressed with artificial intelligence. 

In fact, backed-up waiting rooms – and long wait times – at healthcare clinics frustrate patients and cause physician burnout. By replacing the current ‘70s-era system of resource allocation with AI-driven technology, great efficiency can be realized. 

MedBright AI’s MBAI MBAIF flagship product, MedMatrix, for example, allows clinics to better predict patient needs and prioritize resources…leading to higher patient satisfaction and improved clinic revenue. 

Plus, by offering a solution requiring no training and no upfront costs to clinics, Medbright AI has the potential to quickly grow its base of clinic revenues. 

So far, in just six weeks’ time, already has 14 clinics under contract – totaling an estimated $100 million of clinic revenue – and climbing. And this is a business that comes with extremely attractive profit margin, as high as 80%. Even better, the company is targeting 1% penetration into the healthcare services outpatient market in the next 24 months.

Of course, the healthcare services market is truly massive, valued at $2.2 trillion. 

So MedBright AI’s stated target of creating a 10% improvement in that market represents a $220 billion opportunity for the company.

MedBright AI Already Achieved its Near-Term Goal of Outpatient Clinic Revenue

Most recently, the company announced that it has achieved its near term goal of outpatient clinic revenue under management with MedMatrix, the AI-powered data analytics platform. Fourteen clinics in total across the US and Canada, representing an estimated $100M in clinic revenue in total are now using Medmatrix. 

“The adoption of Medmatrix has been extraordinary, with multiple clinic groups signing on in just 2 short months,” said Michael Dalsin, Chairman of Medbright AI Investment Committee. “We look forward to continued expansion to many more clinic groups and continuing our rapid growth trajectory.”

Medbright AI is the primary shareholder in Medmatrix, an AI-powered data analytics platform. MedMatrix harnesses the power of artificial intelligence to evaluate and analyze key aspects of healthcare facilities, including patient needs and resource matching, revenue cycle management, patient demographics, facility geography, and competition. 

Through its advanced AI and data analytics capabilities, MedMatrix works alongside healthcare professionals to optimize each of these critical areas, resulting in more efficient clinic operations and improved patient outcomes.

For more information on MedBright AI, click here.

Image sourced from Shutterstock

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