MedXoom

About MedXoom

MedXoom, a healthcare technology company, was acquired by Allied Benefit Systems. The company was founded in 2015 by Jeffrey Toewe and Bradford Ress, both of whom are tech startup veterans with a background in FinTech and mobile industries.

Prior to MedXoom, the founders had achieved recognition as the #1 AWS Amazon Startup of the Year for a retail venture. Their experience in financial technology and mobile platforms was then applied to the healthcare sector, leading to the creation of MedXoom.

The company developed a cloud-based platform designed to manage health benefits. This platform serves employers, brokers, and third-party administrators (TPAs) by providing solutions for healthcare cost management. It functions as a digital integration and payments platform, enabling users to optimize and manage their healthcare benefits.

The platform's features are geared towards cost containment and simplifying the healthcare payment process. For employers and TPAs, it offers a centralized system to manage health benefit plans, while for employees, it provides a more transparent and user-friendly way to handle their healthcare expenses. The business model is based on a SaaS (Software as a Service) subscription, where clients pay a fee to use the platform.