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The 16 Billion Dollar Market in Healthcare that is Often Overlooked, How AI is Fundamentally Changing the World of Medical Coding, with Andrew Lockhart, CEO & Co-Founder of Fathom Health
Manage episode 343924966 series 3242761
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Today, we spoke to Andrew Lockheart, CEO of Fathom Health, about the world of medical coding. Medical coding is the process of assigning standardized codes that tell health insurers what services they used and how that service should be reimbursed.
Fathom Health is focused on using AI to reduce the amount of time and errors made while assigning codes to medical procedures. Fathom currently powers coding operations at over 2,000 provider sites, spanning over 100 million medical encounters.
We talk about how medical coding has a huge financial cost on healthcare organizations and the valuable time of doctors. We discuss the importance of audits and how reducing these errors can protect patients.
A few topics you'll learn about today:
1) What exactly is medical coding?
2) How does it affect the health of a medical business? What is the size and impact of improper medical coding?
3) How did you go about acquiring your first customers? How do you acquire millions of data points to train your machine learning models?
4) When founders are first starting out, what’s the best way to develop a business model?
5)How do you start building a team?
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