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Corby Bell, COO and Jim Dudley, ParathonBeing the original full-scale healthcare Revenue Cycle Management (RCM) data integrator, Parathon brings the essential enterprise financial and operational model to healthcare that virtually every other major industry has relied upon for years to maximize profit. Parathon is one of the most powerful Revenue Intelligence software on the market that helps hospitals realize additional revenue, generating significant ROI. Bell states, “All hospitals, especially multi-facility health systems (HS), are challenged with administering individual hospitals/ markets under a siloed operating model.
A profound lack of enterprise software tools and interoperability makes it very challenging if not impossible for HS to administer their revenue cycle as a single entity.” Legacy Health Information Systems (HIS) like Cerner, Siemens, and Epic simply cannot provide the level of enterprise RCM functionality that is critical to HS, even with the aid of third party “bolt-ons.” HS would realize a significant boost in RCM efficiency and profitability if they could transform their de-centralized legacy RCM into a single “best-practice” Parathon Enterprise operating model.
Parathon provides the industry’s only recovery services supported by proven technology, enabling faster recovery and root cause analytics. Further, the company transforms the outdated revenue recovery methodology through superior technology and deep revenue cycle expertise. With many successful collaborations under their belt, the company will continue to shape services to fit the needs of the market and current trends in the healthcare revenue cycle in the near future.
Parathon introduced the technology breakthrough that unifies all mission-critical RCM data pathways from disparate EMRs, bolt-ons, etc., into an enterprise data unification model, widely known within the industry today as the Parallel Data Base (PDB). Because of their obvious benefits, HS are quick to embrace the PDB concept and choose Parathon over other options. This has compelled RCM competitors to claim they too have a PDB. However, it is important to note the stark difference between the Parathon PDB and the many “clones” that confuse the market. A typical clone PDB will boast that their DB is comprised of dozens or maybe as many as several hundred individual data fields contained in a small number of data tables. In contrast, the Parathon PDB comprises more than 20,000 fields spanning over 1,100 individual tables. That scope of data infrastructure is necessary to control an entire RCM desktop. “You don’t have to be a technologist to appreciate the complexity of combining that many individual data elements and tables into an efficient and comprehensive Enterprise RCM system,” says Bell.
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Parathon provides the industry’s only recovery services supported by proven technology, enabling faster recovery and root cause analytics.
Parathon provides the industry’s only recovery services supported by proven technology, enabling faster recovery and root cause analytics. Further, the company transforms the outdated revenue recovery methodology through superior technology and deep revenue cycle expertise. With many successful collaborations under their belt, the company will continue to shape services to fit the needs of the market and current trends in the healthcare revenue cycle in the near future.
Company
Parathon
Management
Corby Bell, COO and Jim Dudley, Parathon
Description
For more than 30 years Parathon has developed solutions that empower providers to improve financial performance, streamline operations, and increase patient engagement
Parathon News
Parathon Names Chandler Barron President to Lead Rapid Expansion
Parathon Names Steven Golub Chief Technology Officer
Industry veteran brings more than two decades of experience leading technology initiatives
NAPERVILLE - Parathon by JDA eHealth Systems, announced the promotion of Steven Golub, formerly director of information technology, to chief technology officer for the organization. With nearly 25 years of experience managing technical assets including hardware, software and networking infrastructure, Golub leads a team of technology experts and developers who are constantly improving Parathon's proprietary and patented revenue cycle management and payer contract management solution to help hospitals and health systems uncover and recover revenue owed to them per their contracts.
"Steven has an impressive background in data security and product development and his addition to our dedicated team of technology experts will further enhance our ability to help our customers navigate the complex world of revenue cycle," said James Dudley, Parathon's CEO and founding partner. "Transforming Parathon into a 100% virtual company is a top priority for Steven because of the recruitment advantages and we are already making great progress on attracting and hiring the best available technology talent no matter where they live."
Prior to joining Parathon, Golub served as director of information technology at Chicago law firm Funkhouser Vegosen Liebman Dunn and as an independent technology consultant. He specializes in data security and product development and has vast experience building cloud infrastructure for improved efficiency and cost savings while securing data against security vulnerabilities and ransomware attacks. An expert in document management, Golub will work with the Parathon team to accurately search large volumes of data accurately and cost-effectively.
"Parathon has a long successful history of holding health insurers accountable for proper reimbursement, which is critical to keeping hospitals and health systems financially viable," said Golub. "I am committed to helping Parathon's customers maximize collection of the revenue they are owed."
Parathon's revenue cycle management and payer contract management technologies go beyond artificial intelligence to address 100% of claims from all payers with 100% accuracy. Unlike most revenue cycle vendors, Parathon does not rely on EMRs or other legacy systems to perform revenue follow-up services. Instead, the company relies on its exclusive Parathon Parallel Database™ and its patented RCM technology to process claims receivables that would otherwise prove difficult, if not impossible, for hospitals or other vendors to collect.
Further, Parathon's Parallel Database™ empowers state-of-the-art modeling so hospitals can experiment with how potential pricing changes affect revenue in the future. The advanced proprietary database also powers price transparency initiatives allowing hospitals to provide patients digital estimating tools to accurately and comprehensively calculate out-of-pocket costs before patients receive treatment.
Contract management is a key piece of the company's efforts, supported by the Parallel Database technology. Parathon combines its IT platform, foundational databases, calculation engine, and core managed care applications to reproduce all financial data found in legacy EMR systems and consolidates all revenue cycle information into a single systemwide enterprise. Users level the playing field between providers and payers with Parathon's best-in-class financial modeling and proprietary technology to ensure appropriate and maximum earned reimbursement.
Parathon's Parallel Database™ also provides backup functionality in the event of a cyberattack, a digital security event leaving hospitals and health care providers unable to bill for services. While the Parallel Database™ does not protect against an attack, it does provide data redundancy to ensure continued collections capabilities if other revenue systems are impacted.
NAPERVILLE - Parathon by JDA eHealth Systems, announced the promotion of Steven Golub, formerly director of information technology, to chief technology officer for the organization. With nearly 25 years of experience managing technical assets including hardware, software and networking infrastructure, Golub leads a team of technology experts and developers who are constantly improving Parathon's proprietary and patented revenue cycle management and payer contract management solution to help hospitals and health systems uncover and recover revenue owed to them per their contracts.
"Steven has an impressive background in data security and product development and his addition to our dedicated team of technology experts will further enhance our ability to help our customers navigate the complex world of revenue cycle," said James Dudley, Parathon's CEO and founding partner. "Transforming Parathon into a 100% virtual company is a top priority for Steven because of the recruitment advantages and we are already making great progress on attracting and hiring the best available technology talent no matter where they live."
Prior to joining Parathon, Golub served as director of information technology at Chicago law firm Funkhouser Vegosen Liebman Dunn and as an independent technology consultant. He specializes in data security and product development and has vast experience building cloud infrastructure for improved efficiency and cost savings while securing data against security vulnerabilities and ransomware attacks. An expert in document management, Golub will work with the Parathon team to accurately search large volumes of data accurately and cost-effectively.
"Parathon has a long successful history of holding health insurers accountable for proper reimbursement, which is critical to keeping hospitals and health systems financially viable," said Golub. "I am committed to helping Parathon's customers maximize collection of the revenue they are owed."
Parathon's revenue cycle management and payer contract management technologies go beyond artificial intelligence to address 100% of claims from all payers with 100% accuracy. Unlike most revenue cycle vendors, Parathon does not rely on EMRs or other legacy systems to perform revenue follow-up services. Instead, the company relies on its exclusive Parathon Parallel Database™ and its patented RCM technology to process claims receivables that would otherwise prove difficult, if not impossible, for hospitals or other vendors to collect.
Further, Parathon's Parallel Database™ empowers state-of-the-art modeling so hospitals can experiment with how potential pricing changes affect revenue in the future. The advanced proprietary database also powers price transparency initiatives allowing hospitals to provide patients digital estimating tools to accurately and comprehensively calculate out-of-pocket costs before patients receive treatment.
Contract management is a key piece of the company's efforts, supported by the Parallel Database technology. Parathon combines its IT platform, foundational databases, calculation engine, and core managed care applications to reproduce all financial data found in legacy EMR systems and consolidates all revenue cycle information into a single systemwide enterprise. Users level the playing field between providers and payers with Parathon's best-in-class financial modeling and proprietary technology to ensure appropriate and maximum earned reimbursement.
Parathon's Parallel Database™ also provides backup functionality in the event of a cyberattack, a digital security event leaving hospitals and health care providers unable to bill for services. While the Parallel Database™ does not protect against an attack, it does provide data redundancy to ensure continued collections capabilities if other revenue systems are impacted.
NASHVILLE - Parathon by JDA eHealth Systems, a leading health care technology company focused on navigating the complex and constantly changing revenue cycle landscape, has named Chandler Barron president. With more than 30 years of industry experience, Barron will drive strategic growth by providing more hospitals and health systems across the country with Parathon's proprietary and patented revenue cycle management and payer contract management solution.
"Chandler brings a wealth of experience and talent that will add valuable leadership and propel growth at Parathon," said James Dudley, Parathon's CEO and founding partner.
Barron has spent his career successfully managing notable health care sales and software development teams, and previously served as Parathon's executive vice president of business development since 2022. In his new role, Barron will lead the company's efforts to help provider organizations increase revenue and streamline operations through contract management solutions built on its unique Parallel Database™.
"For the past two years, it has been a rewarding experience to work alongside Parathon's dedicated team of health care, finance and technology experts who foster innovation and help our provider partners improve their financial performance," said Barron. "My focus as president is to ensure Parathon continues to provide a safe, customized solution to revenue collection and our hospital partners receive unparalleled customer service. I look forward to the opportunity to lead and continue to expand this company that has improved hospital operations for more than 30 years."
Parathon's revenue cycle management and payer contract management technology go beyond artificial intelligence to address 100% of claims from all payers with 100% accuracy. Unlike most revenue cycle vendors, Parathon does not rely on EMRs or other legacy systems to perform revenue follow-up services. Instead, the company relies on its exclusive Parathon Parallel Database™ and its patented RCM technology to process claims receivables that would otherwise prove difficult, if not impossible, for hospitals or other vendors to collect.
Parathon's Parallel Database™ empowers state-of-the-art modeling so hospitals can experiment with how potential pricing changes will affect revenue in the future. The advanced proprietary database also powers price transparency initiatives allowing hospitals to provide patients digital estimating tools to accurately and comprehensively calculate out-of-pocket costs before receiving treatment.
"Our proprietary Parallel Database™ has proven success with our large hospital customers, providing peace of mind for revenue cycle directors and chief financial officers that their revenue streams are maximizing operational efficiency and expected reimbursement for the critical services they provide to patients," Barron said. "Now we are rolling out that functionality to all hospital customers, regardless of size. Parathon's contract management services hold payers 100% accountable for reimbursing hospitals according to their contract terms."
Contract management is a key piece of the company's efforts, also supported by the Parallel Database technology. Parathon combines its IT platform, foundational databases, calculation engine, and core managed care applications to reproduce all financial data found in legacy EMR systems and consolidates all revenue cycle information into a single systemwide enterprise. Users level the playing field between providers and payers using Parathon's best-in-class financial modeling and proprietary technology to ensure appropriate and maximum earned reimbursement.
Parathon's Parallel Database™ also provides backup functionality in the event of a cyberattack, a digital security event leaving hospitals and health care providers unable to bill for services. While the Parallel Database™ does not protect against an attack, it does provide data redundancy to ensure continued collections capabilities if other revenue systems are impacted.