Medefy

Medefy Health offers a healthcare benefits navigation platform designed to simplify the process of accessing health benefits for employees. At the core of its offerings is the provision of live Care Guides, available 24/7, to assist users with various healthcare-related queries and actions. These Care Guides are real people, ensuring that the guidance provided is empathetic and tailored to the individual's needs. The platform reports an average initial response time of 45 seconds, emphasizing its commitment to rapid assistance. Furthermore, Medefy consolidates all components of an employee's benefits plan into a single, easy-to-use app. This centralization simplifies access to benefits and decision-making, embodying the company's goal to make navigating healthcare as straightforward as possible​​.

Medefy Health’s platform also offers personalized, proactive guidance. This aspect of the service anticipates the needs of users, offering support before they may even realize it is required. Such forward-thinking assistance encompasses the entire care journey, from before a medical service is sought, during the process, and after the service has been provided, ensuring that members maximize the value of their benefits program.

Key customers and partnerships

Medefy's platform is designed to address the needs of small to medium-sized employers struggling to engage their members effectively in using their health plans. As of December 2023, the company served over 1,500 employers, including self-insured companies, insurance brokers, benefits advisors, TPAs, and enterprise groups. 

By focusing on personalized, proactive guidance, Medefy has demonstrated that plan members are more likely to choose high-quality, low-cost care, with the number increasing to 94% from the historical rate of less than 30%.

Funding and financials

In December 2023, Medefy Health raised USD 10 million in a Series A funding round. The round was led by Mercury Fund and also saw participation from Advantage Capital. The proceeds were expected to be used for advancing the firm's existing technology platform and AI capabilities to enable more efficient operation on a larger scale.