Michele Cusack, the system’s executive vice president and CFO, said during an upcoming episode of the “Becker’s Healthcare Podcast,” that revenue cycle is “always a key focus area, especially as we continue to grow and expand operationally.”
“As we introduce new services, it’s critical to ensure we’re optimizing processes and capturing all the revenue we should,” she said. “There are a lot of moving parts, but our focus remains on improving efficiencies, particularly in our cost-to-collect, by leveraging technology to enhance staff productivity.”
She said that right now the health system is primarily using robotic process automation, but the system is also exploring how it can further augment its workforce — “whether in call centers, coding or other areas that drive efficiency and ensure we’re reimbursed accurately.”
Denials management is another major focus for Northwell.
“Some of our payers have initial denial rates as high as 30-35%, creating a significant administrative burden,” she said. “However, the cost of not responding to denials is even greater than the administrative burden itself, making it essential to have a strong back-end process in place.
“Ultimately, our goal is not just to maximize reimbursement but also to streamline administrative workflows, reducing inefficiencies and improving overall revenue cycle performance.”