From time to time, Fathom invites recent hires to share about their experience in deciding to join our team. In this blog, Ross Moore, VP of Sales, tells the story of his decision to join Fathom and explains why he's excited about the impact of autonomous medical coding.
I recently joined Fathom, an autonomous medical coding software company. For those unaware, medical coding is the administrative language of healthcare. It involves converting physician documentation into codified values to support electronic processing of medical claims. Fathom uses deep learning AI to automate this traditionally labor-intensive process.
So why did I join Fathom as a Vice President of Sales? It came down to a few key factors.
1. People: There's a saying that culture eats strategy for breakfast. The teammates I met when interviewing seemed like they not only had an amazing vision but were also eager to solve problems and had a track record of successful execution.
2. Product: Fathom has clearly demonstrated its product-market fit. The US medical coding industry is around a $15B market. Fathom has clients who can testify about its ability to automate this function at a higher accuracy rate than humans and at a fraction of the cost. Higher accuracy is key because it helps insurance companies, third party administrators, and providers reduce overall processing costs – ultimately reducing the cost of healthcare for employers, the government, and consumers.
3. Positioning: I looked at this through two lenses.
First, how is autonomous coding positioned relative to other digital health solutions in the market? The U.S. healthcare system is in dire need of solutions that reduce costs. Health systems in particular are facing challenging headwinds as a result of increased competition and rising costs.
Autonomous coding solutions clearly address the cost side of the equation and have a more tangible ROI than digital health solutions that address factors like patient and physician satisfaction. ROI is very important in times of financial downturn.
Second, how is Fathom positioned relative to other vendors in the autonomous coding space? When compared to the rest of the market, Fathom has the highest automation rates, broadest coverage, and fastest deployment times of visit types. This was a no brainer.
Overall, it's an exciting time to be in digital health and I couldn't be more thrilled to join the Fathom team! I look forward to sharing updates as we grow. Don't be a stranger to reach out if you're interested in learning more about Fathom and my experience here!