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Fathom is the first medical coding automation company to receive investment from a national physician group
SAN FRANCISCO–(BUSINESS WIRE)– Fathom, the leader in AI medical coding automation, announced it received a strategic investment from Inflect Health, the innovation hub of Vituity, one of the largest physician-led provider groups in the United States. Fathom will use the investment to drive innovation and the performance of its industry-leading platform to improve the speed and accuracy of medical coding.
“The Inflect Health team is on the forefront of healthcare innovation and transformation and their approach to the revenue cycle is no different,” said Andrew Lockhart, Fathom CEO. “Their investment is strong validation of Fathom’s technology and demonstrates confidence in our ability to deliver reliable and accurate coding at unparalleled automation rates as we positively impact health organizations’ operations and revenues.”
In addition to capital from the innovation hub, Fathom will leverage Vituity’s expertise in the revenue cycle as it refines the Fathom platform to alleviate staffing challenges, reduce denials and mitigate audit risk. Fathom is the only medical coding platform that can fully and accurately automate over 90% of emergency department encounters.
“We seek investment partners who bring revolutionary technology that critically impacts healthcare,” said Inflect Health’s President Andrew Smith. “Fathom, with its ground-breaking automation and commitment to continuous innovation, is a company we believe has the power to revolutionize RCM for health systems and practices.”
About Vituity
For nearly 50 years, Vituity has been raising the standard of care and transforming how, when and where care is delivered. As a physician owned and led multispecialty partnership, our 5,000 doctors and clinicians care for nearly 8 million patients annually across 450 practice locations and nine acute care specialties. Our innovation hub, Inflect Health identifies early-stage health-tech companies and facilitates a connection to physicians for testing. This access allows Inflect Health to be a catalyst for consistent care improvement and innovative health technologies, by connecting innovators to capital, physicians, and patients in real-time.
Learn more at vituity.com and inflecthealth.com
About Fathom
Fathom, headquartered in San Francisco, CA is the nation’s leading medical coding automation platform, an AI solution that fuses the best of deep learning and Natural Language Processing (NLP) to automate medical coding with unprecedented accuracy and efficiency. Fathom supports some of the largest healthcare revenue cycle operations in the United States that account for nearly 60M patient encounters annually. Fathom provides the highest automation rates and the broadest specialty coverage to help clients increase speed and accuracy while reducing costs.
Fathom is backed by world-class investors, including Tarsadia, 8VC, Founders Fund, and Stanford. For more information visit fathomhealth.com, or follow the company on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005693/en/
Phyllis Grabot
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805.341.7269
Bonnie Quintanilla
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818.681.5777
Source: Fathom