The startup helping SMEs reduce employee medical costs
by Author at Tech Collective – December 28, 2020
Anyone who runs a business knows the hefty costs of insuring your staff. SMEs and startups have little or no leverage in getting good deals and no one has any interest in reducing costs for small companies.
Well, except for Mednefits. This startup is helping to tackle these issues by using technology to replace the middlemen like third-party administrators (TPAs), and connect healthcare providers directly with companies seeking to provide employee benefits.
This platform-based solution pools all the companies together — big and small — to negotiate lower rates from healthcare providers. Thus providing leverage for smaller businesses to negotiate at the same level as MNCs.
Recently Mednefits raised a Series A round of USD 6 million led by BLoyalty Sdn Bhd. Fresh off this raise, we had a chance to speak to Chris Teo, CEO of Mednefits about their plans for the region and what they hope to achieve in the coming year (...)