Fathom Secures Strategic Investment From CVS Health Ventures to Accelerate Enterprise-Wide Autonomous Coding

SAN FRANCISCO--(BUSINESS WIRE)--Fathom, a leader in autonomous medical coding, has announced a strategic investment from CVS Health Ventures, the venture capital arm of CVS Health. The funding reflects growing demand from both payers and providers for enterprise AI that delivers measurable financial and operational impact across revenue cycle management.

The investment comes as AI adoption in revenue cycle management has reached an inflection point of demonstrable value, and is a natural extension of CVS Health’s enterprise commitment to being a partner of choice for providers. The Bain & Company 2025 Provider and Payer Healthcare IT Survey, written in partnership with KLAS Research, found that revenue cycle management had risen to the top priority for health IT investment. At a Health Management Academy briefing in December 2025, executives from leading health systems that have implemented autonomous coding discussed the tangible ROI they've captured. These leaders' outcomes added to a growing base of organizations across the healthcare ecosystem – both health systems and payers – that are adopting Fathom's platform.

“Fathom is already delivering real, measurable ROI at a time when the entire ecosystem is facing significant cost pressures,” said Carter Prince, Partner, CVS Health Ventures. “We believe Fathom’s accuracy has potential to become a trusted, consistent, and neutral representation of the care delivered, creating new opportunities to reimagine and strengthen payer-provider relationships.”

Central to Fathom's differentiation is its multi-specialty approach, which enables health systems to deploy autonomous coding with 90%+ successful automation rates across departments in one motion rather than navigating antiquated department-by-department AI rollouts that are sluggish and IT resource-intensive. This system-wide implementation model delivers fast, light-lift ROI with immediate operating margin impact.

"CFOs and revenue cycle leaders across the country are demanding real ROI stories from AI, and autonomous coding is delivering," said Andrew Lockhart, CEO of Fathom. "By increasing efficiency through higher coding accuracy and consistency, we are not only improving patient and provider experience of care, we're proving that AI can be a true catalyst for financial performance at enterprise scale. This investment from CVS Health Ventures supports the momentum we're seeing and accelerates our ability to serve the growing demand from providers and health plans nationwide."

Fathom was recently recognized as the #1 solution for Reducing the Cost of Care in the 2025 KLAS Emerging Solutions Top 20 Report, following a 95.5*/100 overall performance score in KLAS Research's first-ever autonomous coding report ("Autonomous Coding 2025: A Promising Start for an Early Market," August 2025; *limited data). In an earlier KLAS Emerging Company Spotlight report (September 2024), 100%* of customers interviewed expressed the highest level of satisfaction and unanimously validated Fathom's 90%+* automation rates at high accuracy.

Meet Fathom and hear firsthand from select clients at the HFMA Annual Conference (June 7-10, National Harbor, Md.), Becker's 11th Annual Health IT + Digital Health + RCM Conference (Sept. 14-17, Chicago), and Becker's 14th Annual CEO + CFO Roundtable (Nov. 2-5, Chicago), and more this year.

To learn more about Fathom's autonomous medical coding platform, visit fathomhealth.com.

About Fathom

Fathom is the nation's leading autonomous medical coding platform, an AI solution that fuses the best of deep learning and natural language processing to automate medical coding with unprecedented accuracy and efficiency. Fathom provides the highest automation rates and the broadest specialty coverage to help clients increase accuracy and speed while reducing costs.

Fathom is backed by world-class investors, including 8VC, Alkeon Capital, Cedars-Sinai, CVS Health Ventures, Founders Fund, GV, Lightspeed Venture Partners, and Tarsadia. For more information, visit fathomhealth.com and follow the company on LinkedIn.