First of all, the copilot is a copilot, its not a pilot, it won’t be flying the plane, but it will be assisting. So our product is also going to assist and suggest the doctor, leaving the responsibility with the doctor. The decision maker would still be with the doctor and making sure HIPAA compliant and the regulatory requirements and patients’ safety in mind. So that assistant will be able to – because we have that specific patients and the industries from the geographic same-specialty, gender insurance mix. So we will be able to suggest a treatment plan, a full comprehensive care plan with the help of the generative AI to the doctor, which can help in the rare disease cases, which can help in preventive medicine, there could be certain tests that should be conducted at that point, which otherwise a doctor may have skipped or may not have thought about at that time.
So on one side, from the revenue generation perspective, that one license or one user will be charging from the license fee perspective. And then in the bigger picture, there will be an improvement of the overall profitability and the patient outcomes for that practice. So this is going to be the one, the revenue generation line for us or this is how the revenue will be generated. In addition to that, the bigger picture is, once this proof of concept gets done, our model gets trained for the small to medium-sized practices data, with the help of the Google, we plan to though, and we will communicate if anything gets finalized with Google, we plan to go make and how we can provide this with the help of working with Google access to this trained AI model to other vendors in this space.
So there will be another in the future that at least our goal is what we are opportunistic about. That’s what we think is a path to go. But anyway, I hope I answered the question in terms of the revenue for us. This year, we are going through and making sure just because of dealing with the patient health information that it should provide a reasonable accurate projections, so we are in the process of refining the results. And by the end of the third quarter, early fourth quarter, we plan to launch this product. Let’s see how what is the attention and attraction we get from our existing client base for us as everyone is going through their adaptability and understanding the generative AI and then we believe this is going to help us in the bigger picture into the 2024.
Jeffery Cohen: Okay. Perfect. Thanks for taking our questions.
Hadi Chaudhry: Thank you. Thanks, Jeff.
Operator: Thank you. The next question comes from Neil Chatterji of B. Riley. Please go ahead.
Unidentified Analyst: Hi. Thank you. This is Anderson on for Neil. You called out the weaknesses in Wellness and Professional Services in Q2. How do you see those recovering going forward in the second half and in 2024?
Hadi Chaudhry: I can talk about from the business perspective. And Larry, if you want to add any other color to it. Just let’s talk with the Professional Services first. So for Professional Services, if you think about it and just to – the largest vendor that I’ve been talking about and just to put the things in perspective, if you talk about activation services, one activation project for that largest health system could potentially have, let’s say, $1 million at an average project in revenue. The other alternative that we are working on, which is Meditech as an example, their average activation could only be, let’s say, a $200,000 a project. So for us to bridge that gap, it’s taking this time to get there. The other – the second major line of business, probably where we anticipate we should be able to recover or should be able to do a good job with this Professional Services is leveraging those relationships in the health system space to sell our RCM services.
As you may recall, last year, when we presented the numbers for Professional Services division, we were able to increase the revenue of RCM by roughly 300% compared to prior to acquisition. So both of these two – and we see a – may not be the similar 300%, but there is a decent increase on the RCM revenue compared to the last year as well. So our RCM business line under MedSR is growing. Our Meditech business line is also growing, and that’s opening even further door for us into a more partnered possible relationship on the RCM with Meditech and also our Middle East opportunity. So we believe between the two, we will keep on growing. Our goal would be. And again, we will share the numbers at the end of this year when we close the year. Our goal would be that at least with these two possible lines and the opportunities that exist for us in Middle East, we should be able to get back to where we should be by the end of next year.
Again, that’s one goal. We yet to see how the things plays out until the end of this year. But we do see a lot of these opportunities and the path for us to get back to where we should be.
Unidentified Analyst: Great. Thank you. And then on your Middle East expansion, congrats on the UAE trade license. When do you anticipate recognizing revenues there?
Hadi Chaudhry: Great. And I’ll answer it. And just to mention that Dwight who is heading over MedSR as well as the Middle East division, he also joined us for the Q&A session. And Karl from the Force division, the head of the Force, he also had joined us during the Q&A session. So let me answer that, and then I’ll hand it over to Dwight to give you a little more color. We – in the current phase, we are going through the process of finding the right boots on the ground resources we have the knowledge you can go and help us sell into that space and there are a number of other activities that we are projecting. Our internal goal is to at least have been able to sign R&D a few deals before the end of this year, which should have a revenue recognition for us into the next year.
Because there’s no matter what you do by the time we signed the deal, get the resources aligned, get the projects initiated, the revenue recognition will take at least six months from the point of signing the deal. So this is a bigger picture. But Dwight would you like to give just a little more color like how you’re doing on the Middle East side for Neil and the other people listening.
