Yardstick Research tear-sheet / healthcare RCM cohort
Fathom-Health
Identity
- Name: Fathom (legal entity Fathom, Inc.; formerly Tiny RX, Inc.)
- Founded: 2017 (operating-as-Fathom; legal-entity trace back to 2015 as Tiny RX)
- HQ: San Francisco, CA (sources disagree on suite; CB Insights: 51 Federal Street Suite 204; HighPerformr: 2150 Post Street). Additional New York office.
- Funding: $60.1M to $60.9M total disclosed (pre-CVS Health Ventures May 2026 round, amount undisclosed). Series B $46M closed November 2022, co-led by Alkeon Capital + Lightspeed; existing investors Cedars-Sinai, Vituity Inflect Health, ApolloMD, Founders Fund, Tarsadia, GV, 8VC.
- Employees: ~80-150 triangulated across LinkedIn 51-200, HighPerformr 94, Getlatka 79 (Dec 2023), team page 48 named.
- Archetype: Vertical autonomous-coding platform for outpatient + risk-adjustment medical coding workflows.
Total score: 71.6 / 100
- Stage fit:
- Foundation (<40 readiness): no - Fathom is a coding-operations displacement product. A buyer scoring below 40 on the healthcare-rcm readiness audit does not have the EHR-integration maturity or volume to justify it; would underutilize.
- Pilot (40-59): conditional - yes if Epic or athenahealth EHR with consolidated single-specialty volume to pilot on (ED or radiology); no otherwise.
- Scale (60-79): yes - primary buyer profile. Multi-service-line health systems / physician groups with established coding operations.
- Optimization (80+): yes - KLAS-validated 90%+ automation across customers; quantified Your Health outcome ($35M revenue impact, 95.5% automation, 98.3% accuracy).
- One-line verdict: Operating standard for outpatient autonomous medical coding; quantified customer outcomes and dual EHR-marketplace presence (Epic Toolbox + athenahealth Data View) are unmatched in the cohort, with the bounded weak spots being inpatient DRG (in development), pricing opacity, and undisclosed model architecture.
Headline numbers
| Metric | Value | Evidence URL |
|---|---|---|
| Automation rate (KLAS-validated, multi-customer) | 90%+ across specialties | https://www.businesswire.com/news/home/20251002716056/en/Fathom-Achieves-95.5-Overall-Performance-Score-in-KLAS-Research-Autonomous-Coding-Report-With-Customers-Validating-90-Automation-Rates |
| KLAS Autonomous Coding 2025 overall performance score | 95.5/100 | https://www.businesswire.com/news/home/20251002716056/en/Fathom-Achieves-95.5-Overall-Performance-Score-in-KLAS-Research-Autonomous-Coding-Report-With-Customers-Validating-90-Automation-Rates |
| Your Health single-customer outcome | 95.5% automation, 98.3% accuracy, $35M benchmarking revenue impact | https://hitconsultant.net/2026/03/19/fathom-autonomous-medical-coding-your-health-35m-revenue-ai/ |
| Lifetime encounter volume (vendor claim) | 63M+ | https://fathomhealth.com/ |
| Provider sites (vendor claim) | 3K+ | https://fathomhealth.com/ |
| HITRUST certification tier | i1 (moderate-assurance) | https://fathomhealth.com/insights/fathom-advances-data-protection-and-privacy-in-autonomous-medical-coding-with-hitrust-i1-certification |
| Total funding (pre-CVS 2026) | ~$60.1M | https://www.crunchbase.com/organization/fathom-4 |
| Latest strategic investor | CVS Health Ventures (May 2026) | https://hitconsultant.net/2026/05/06/fathom-cvs-health-ventures-autonomous-coding-investment/ |
Dimension scores
| Dimension | Score (raw/max) | Weight | Weighted | Evidence URL |
|---|---|---|---|---|
| AI capability depth | 3/4 | 15 | 11.25 | [VENDOR-CLAIMED + THIRD-PARTY] KLAS-validated 90%+ automation across customers and 95.5/100 overall KLAS Autonomous Coding 2025 score; outpatient breadth (ED, radiology, primary care, anesthesia) plus E/M + HCC capture; capped at 3 (not 4) because the foundation-model / LLM provider is undisclosed and no published arXiv paper or model card exists, which is a meaningful disclosure gap vs Hippocratic Polaris / Tennr RaeLM. Inpatient DRG still in development. - https://fathomhealth.com/insights/fathom-achieves-95-5-overall-performance-score-in-klas-research-autonomous-coding-report-with-customers-validating-90-automation-rates |
| Workflow integration depth | 3/4 | 25 | 18.75 | [VENDOR-CLAIMED + THIRD-PARTY] Native Epic Toolbox listing (Fully Autonomous Coding category, August 2024) + athenahealth Data View Marketplace presence - the strongest dual-EHR-marketplace posture in the cohort. Customer-validated end-to-end at Your Health on athenahealth. Capped at 3 (not 4) because Cerner / Meditech / Allscripts / NextGen / eClinicalWorks are cited only by third-party teardowns, not by native marketplace cards; FHIR R4 / SMART on FHIR conformance not stated. - https://www.fathomhealth.com/insights/fathom-autonomous-medical-coding-available-in-epic-toolbox, https://athenaconnect.athenahealth.com/marketplace/product/fathom-inc, https://hitconsultant.net/2026/03/19/fathom-autonomous-medical-coding-your-health-35m-revenue-ai/ |
| Vertical specialization | 4/4 | 15 | 15.0 | [VENDOR-CLAIMED + THIRD-PARTY] 100% healthcare-only product company. Distinct product pages by buyer segment (health system, physician group, health plan, RCM vendor) and by specialty (primary care, emergency medicine, radiology, anesthesia, E/M). Strategic healthcare investor base (Cedars-Sinai, Vituity Inflect Health, ApolloMD, CVS Health Ventures). No horizontal NLP or adjacent revenue. - https://fathomhealth.com/, https://hitconsultant.net/2026/05/06/fathom-cvs-health-ventures-autonomous-coding-investment/ |
| Implementation + time-to-value | 3/4 | 10 | 7.5 | [VENDOR-CLAIMED contradicted by THIRD-PARTY] Vendor says "4-6 weeks" full deployment (2022 Series B). RevCycleAI / PPLE Labs say "4-6 months" implementation, 12-18 months to average ROI. Your Health trajectory (October 2025 go-live → March 2026 all-service-lines disclosure) consistent with 4-6 months full enterprise rollout. Score 3 (not 4) because the contradiction is real and the published 4-6 weeks is misleading for multi-service-line buyers, but 5-month all-lines rollout with $35M revenue impact is still excellent for the cohort. - https://www.fathomhealth.com/insights/fathom-secures-46m-series-b-financing, https://revcycleai.com/blog/fathom-vendor-deep-dive/, https://hitconsultant.net/2026/03/19/fathom-autonomous-medical-coding-your-health-35m-revenue-ai/ |
| Data + compliance posture (HIPAA/HITRUST) | 2/4 | 20 | 10.0 | [VENDOR-CLAIMED + THIRD-PARTY] HITRUST i1 (December 2024 - moderate-assurance tier, below Cohere Health's r2 in the same cohort) + SOC 2 Type 2 (audit firm + date not published) + HIPAA. ISO 27001 / 27701 / 42001 not claimed. Penetration test reports not published. AI safety / training-data posture not addressed on trust page. PHI-training opt-out default in standard BAA undocumented - a meaningful gap given the autonomous-coding category. Score 2 (not 3) because the lack of model-governance + PHI-training-default disclosure compounds the i1-vs-r2 tier gap; the buyer-side procurement story is materially weaker than Cohere Health's. - https://fathomhealth.com/security, https://fathomhealth.com/insights/fathom-advances-data-protection-and-privacy-in-autonomous-medical-coding-with-hitrust-i1-certification |
| Pricing + scalability | 1/4 | 5 | 1.25 | [VENDOR-CLAIMED] Fully quote-only; /pricing returns HTTP 404; never indexed by Wayback. Homepage CTAs are "GET STARTED" / "REQUEST A CALL" / "SCHEDULE A CALL". The "up to 50%" / "up to 70%" cost-reduction framing is an outcome claim, not a price. ROI calculator gates results behind a contact form. No per-encounter or per-chart anchor. Scalability itself is strong (90%+ automation at health-system volume; "code millions of charts per day" demonstrated), but the rubric reads pricing transparency as the gating signal here. - https://www.fathomhealth.com/, https://www.fathomhealth.com/services, https://www.fathomhealth.com/roi-calculator |
| Vendor strength + named-customer evidence | 4/4 | 10 | 10.0 | [VENDOR-CLAIMED + THIRD-PARTY] CVS Health Ventures (May 2026) + Cedars-Sinai + Vituity Inflect Health + ApolloMD + GV + 8VC + Lightspeed + Alkeon strategic-investor stack. Named-customer roster includes One Medical, Assembly Health, Community Health Network, ApolloMD (1,500+ physicians, 2.5M+ patients, 88 hospitals), Hoag, UCI Health, Your Health, Cedars-Sinai. KLAS 100% satisfaction in 6-customer Spotlight (2024); KLAS 95.5/100 overall in Autonomous Coding 2025 with 100% recommend rate; KLAS #1 for Reducing Cost of Care in 2025 Emerging Solutions Top 20; 2025 NY Digital Health 100. Strongest single-customer quantified outcome in the cohort (Your Health). - https://fathomhealth.com/, https://www.fathomhealth.com/insights/apollomd-leverages-fathom-autonomous-medical-coding-to-save-costs-and-accelerate-revenue-cycle-for-1-500-physician-group, https://www.businesswire.com/news/home/20251022748915/en/Fathom-Named-1-Solution-for-Reducing-Cost-of-Care-in-KLAS-2025-Emerging-Solutions-Top-20-Report |
Total weighted: 11.25 + 18.75 + 15.0 + 7.5 + 10.0 + 1.25 + 10.0 = 73.75 → minus 2.0 soft integration penalty + 0 scale penalty + soft pricing-transparency penalty applied per the cohort scoring code = headline_score ~71.6.
Pricing detail
- No public tier table. /pricing returns HTTP 404 on https://fathomhealth.com; Wayback Machine has no indexed /pricing snapshot.
- Outcome framing only: "Up to 50% cost reduction" (services page); "up to 70% cost reduction" (variant page).
- Reported model (third-party only, unverified): per-claim or per-encounter pricing with volume discounts; 4-6 months implementation; 12-18 months to average ROI (PPLE Labs / RevCycleAI).
- CTAs: "GET STARTED", "REQUEST A CALL", "SCHEDULE A CALL", "Calculate My ROI" (gated to contact form).
- Pricing-transparency penalty: soft (mid-band straddle; enterprise-dominant customer mix per rubric).
Integrations
- Epic - native: [VENDOR-CLAIMED + THIRD-PARTY] Listed in Epic's Toolbox program (Fully Autonomous Coding category) since August 16, 2024; uses Epic's "Blueprint" connection practices. https://www.businesswire.com/news/home/20240912928979/en/Fathom-Autonomous-Medical-Coding-Available-in-Epic-Toolbox
- athenahealth - native: [VENDOR-CLAIMED + THIRD-PARTY] Native integration via athenahealth Data View; listed on athenaConnect Marketplace as "Fathom Inc."; customer-validated end-to-end at Your Health (October 2025 go-live, all service lines). https://athenaconnect.athenahealth.com/marketplace/product/fathom-inc, https://hitconsultant.net/2026/03/19/fathom-autonomous-medical-coding-your-health-35m-revenue-ai/
- Cerner, Meditech, Allscripts, NextGen, eClinicalWorks, MEDHOST - claimed but unverified: [THIRD-PARTY] Cited by RevCycleAI / Elion Health teardowns; no native marketplace card or formal partner-program listing surfaced in May 2026 searches. Treat as supported via HL7 v2 / integration layer until right-of-reply confirms.
- FHIR R4 / SMART on FHIR: [UNKNOWN] Not publicly stated.
- No cohort-peer (D1 vendor) native integrations identified. Epic / athenahealth / Cerner are EHR platforms, not in the Yardstick D1 vendor catalog as of May 2026.
Editorial assessment
Fathom is the operating standard for outpatient autonomous medical coding. Where most healthcare-rcm vendors paste marketing language about automation, Fathom has KLAS-validated 90%+ automation across customers, a 95.5/100 overall performance score in the KLAS Autonomous Coding 2025 report, and a falsifiable single-customer outcome at Your Health (95.5% automation across all service lines, 98.3% accuracy, $35M benchmarking revenue impact, October 2025 go-live to March 2026 disclosure). That outcome is rare in the cohort - most peers publish range claims or single-line testimonials, not multi-metric multi-service-line numbers tied to a named customer with a verifiable EHR.
Best fit is the mid-sized to enterprise outpatient health system or physician group with consolidated emergency-department / radiology / primary-care / E/M-heavy volume, Epic or athenahealth as the EHR of record, and an existing coding operation that can absorb partial-to-full displacement. The CVS Health Ventures investment in May 2026 signals payor-side risk-adjustment coding (HCC capture for Medicare Advantage and ACA marketplace populations) as the second wedge.
Where Fathom is bounded: inpatient DRG is in development, not in production - for academic medical centers with DRG-heavy volume, CodaMetrix's inpatient-first positioning is the differentiated alternative. HITRUST tier is i1 (moderate-assurance), not r2 (the highest tier Cohere Health holds) - for payor-side buyers comparing Fathom vs Cohere on risk-adjustment, this gap surfaces in procurement. The model architecture is undisclosed (no foundation-model attribution, no arXiv paper). The PHI-training opt-out default is not in any published DPA-level statement. Pricing is fully quote-only.
Compared to CodaMetrix, Fathom wins on outpatient breadth, KLAS-validated automation rate, EHR-marketplace presence, and quantified customer outcomes; CodaMetrix wins on inpatient DRG. Both are similarly opaque on pricing. Buyers should make the call on inpatient-vs-outpatient mix.
Revisit when: inpatient DRG goes GA with a named customer outcome; Fathom publishes a model card or names a foundation-model provider; Fathom publishes a per-encounter / per-chart price anchor; HITRUST tier upgrades from i1 to r2; CVS-Ventures-strategic deployment lands with a named payor-side customer outcome.
Right-of-reply gaps
The following items are tagged [UNKNOWN] or are vendor / third-party contradictions in the dossier and should be sent to Fathom in the right-of-reply email:
- Model architecture / foundation-model attribution. Does Fathom use a third-party foundation model (OpenAI, Anthropic, open-source LLM) anywhere in the coding engine, or is the full deep-learning stack proprietary? Is there a published model card or arXiv paper?
- PHI-training opt-out default. Does the standard Fathom BAA exclude customer PHI from model training by default, or is it opt-in / opt-out at contract negotiation?
- HITRUST roadmap. Is there a published target date to move from HITRUST i1 to r2?
- SOC 2 Type 2 audit firm + audit period. Which firm audited, and what is the most recent audit period?
- Implementation timeline contradiction. What is the typical timeline for (a) a single-specialty pilot vs (b) a full multi-service-line enterprise rollout? Vendor 2022 Series B page says 4-6 weeks; third-party teardowns + Your Health trajectory say 4-6 months for full rollout. Which is current and what defines "deployment"?
- EHR coverage outside Epic + athenahealth. Native marketplace presence for Cerner, Meditech, Allscripts, NextGen, eClinicalWorks, MEDHOST - is there a partner-program listing, or are these via HL7 v2 only?
- FHIR R4 / SMART on FHIR. Is Fathom FHIR-R4 conformant? Does the platform expose SMART on FHIR app-launch?
- Inpatient DRG GA date. When does inpatient DRG move from in-development with academic-medical-center partners to generally available?
- Per-encounter or per-chart pricing anchor. Yardstick's brand premise is comparability. Will Fathom publish a per-encounter / per-chart / per-coder anchor or accept the soft pricing-transparency penalty?
- Penetration test posture. Are third-party pen tests conducted? Cadence? Most recent date?
- ARR / customer count update. December 2023 Getlatka snapshot ($12.2M ARR, 79 employees) is likely 18 months stale. What is current ARR + customer count + headcount?