Mount Sinai Collaborates With Midstream Health to Use AI-Powered Financial Intelligence to Identify Cost-Saving Opportunities
First health system in New York City to use financial action platform that enables AI agents to proactively pinpoint opportunities for strengthening overall financial sustainability
The Mount Sinai Health System today announced a collaboration with Midstream Health, an artificial intelligence (AI)-powered proactive financial action platform, to implement real-time intelligence that enhances financial operations and improves workflow efficiency, ensuring better services and care for patients.
Mount Sinai will first deploy the AI-driven platform within its supply chain system to prioritize and manage existing opportunities for cost savings efforts across the Health System, such as identifying potentially underreported and missing payments that are expected to result in a fivefold return on investment, resulting in returned money to reinvest in the system’s services and infrastructure.
“Mount Sinai purchases and tracks supplies, equipment, and services well in excess of $1 billion a year to provide seamless patient care and advance medicine, research, and education,” said Vincent Tammaro, Executive Vice President and Chief Financial Officer of the Mount Sinai Health System. “We recognize the value AI can bring as a supplement to our supply chain team, to ensure the pricing accuracy, efficiency, and value received from our contracting and purchasing processes. Receiving the full contract value of our rebates is an important component of managing supply expenses and mitigating the impact of rising inflation that contributes to health care unaffordability for our patients and communities.”
Midstream is purpose-built to enhance financial operations within large multilayered health care organizations such as the Mount Sinai Health System, which encompasses seven hospitals and more than 400 outpatient practices. The AI-powered platform pulls together fragmented, complex financial and contract data into a single source to create custom-built datasets to fill critical information gaps. After a comprehensive data foundation is established, domain-trained AI agents scan, flag, and prioritize cost-saving and margin opportunities, such as rebate discrepancies, pricing errors, payer underpayments, delayed payments, and denials. Mount Sinai will use the platform to more efficiently and quickly model outcomes, source documents, and continuously monitor and analyze operations strategies.
“Mount Sinai continues to leverage data assets in a more meaningful way to help drive thoughtful insights and better understanding of how we perform operationally, clinically, financially, and in support of our mission to optimize patient care, services, and performance,” said Lisa S. Stump, MS, FASHP, Executive Vice President and Chief Digital Information Officer of the Mount Sinai Health System and Dean for Information Technology of the Icahn School of Medicine at Mount Sinai.
Venkat Mocherla, Co-founder and President of Midstream Health, said, “We are honored to collaborate with Mount Sinai, an early Midstream adopter and recognized leader in using technology and innovation to transform health care. Focused on rapid value generation, this collaboration is a great example of how agentic AI can go beyond providing insights—accelerating time to savings and advancing financial sustainability to help address the health care affordability crisis.”
About Midstream Health
Midstream is an AI-powered, proactive financial action platform purpose-built for healthcare. It transforms structured and unstructured data, siloed documents, and external datasets into contract-aware insights while building proprietary datasets to fill the gaps where information is missing or incomplete. Powered by domain-trained AI agents, Midstream continuously identifies margin opportunities across both spend and revenue operations, and prioritizes the actions that will drive the greatest return. From missed rebates and pricing compliance to payer underpayments and policy-driven denials, its AI learns and adapts with every interaction. Backed by a16z and CommonSpirit Ventures, Midstream delivers always-on intelligence, ensuring health systems capture every dollar they deserve.
Learn more at https://www.midstream.health/.
About the Mount Sinai Health System
Mount Sinai Health System is one of the nation’s leading integrated academic health systems and one of the largest in the New York metropolitan area. Its comprehensive system includes seven hospitals, more than 400 outpatient practices, over 600 research and clinical laboratories, the Icahn School of Medicine at Mount Sinai, the Graduate School of Biomedical Sciences, and the Mount Sinai Phillips School of Nursing. Together, the Health System comprises approximately 48,000 employees, more than 9,000 physicians, and 8,600 nurses.
As a leading learning health system, Mount Sinai combines clinical expertise with scientific discovery to improve patient care while training the next generation of health care and biomedical leaders. The Health System provides care across every stage of life, from prenatal care through geriatrics, while advancing personalized medicine through artificial intelligence, data science, and biomedical research.
Mount Sinai is consistently recognized among the nation’s leading academic health systems for patient care, research, and education. The Mount Sinai Hospital is ranked No. 1 in New York by Newsweek and No. 5 on the magazine’s World’s Best Hospitals list. The Icahn School of Medicine at Mount Sinai ranks No. 11 among U.S. medical schools and No. 1 among freestanding medical schools for National Institutes of Health funding, reflecting the strength of its scientific enterprise and leadership in biomedical research.