Fathom

High-volume autonomous coding across specialties

Our take

Fathom sells autonomous medical coding: its deep learning and NLP engine reads clinical documentation and assigns CPT and ICD-10 codes without a human touching most charts. It targets health systems, hospitals, physician groups, and risk-bearing providers that want to cut coding cost, speed up billing, and tighten HCC capture, with low-confidence encounters falling back to human review.

Founded in 2016 in San Francisco, Fathom raised a $46M Series B in 2022 co-led by Alkeon and Lightspeed (total disclosed funding of $61M) and added a strategic investment from CVS Health Ventures in May 2026. It claims average automation rates above 90%, roughly double typical market performance, and publishes named results: ApolloMD runs it across a 1,500+ physician group, and senior-care group Your Health hit 95.5% automation at 98.3% accuracy across all service lines. An Epic Toolbox listing plus Cerner and athenahealth connectivity make it one of the more deployable options in the category.

What it does

Codes encounters autonomously with deep learning and NLP
Automates 90%+ of coding volume in many deployments
Covers ED, radiology, primary care, and other specialties
Routes low-confidence charts to human coders
Improves HCC/RAF capture for value-based contracts
Reduces coding cost, denials, and days to bill

Where it's strong

Highest published automation rates in the autonomous coding market, with customer-verified results like Your Health's 95.5% automation at 98.3% accuracy.
Epic Toolbox listing and multi-specialty deployment model shorten implementation for health systems.
Strategic backing from CVS Health Ventures and clinical investors like Cedars-Sinai signals enterprise credibility.

What buyers should weigh

Narrowly focused on coding, so you still need separate vendors for the rest of the revenue cycle.
Automation rates vary a lot by specialty and documentation quality; your mix may not hit headline numbers.
Total disclosed funding is modest relative to peers, worth probing on enterprise support depth.

Latest

In May 2026 Fathom took a strategic investment from CVS Health Ventures to scale enterprise-wide autonomous coding, following a March 2026 customer announcement with Your Health showing a 95.5% automation rate.