Parathon - Revenue Cycle Management Solutions/Service Company
healthcaretechoutlook

Parathon: Delivering Revenue Intelligence

Corby Bell, COO and Jim Dudley, ParathonCorby Bell, COO and Jim Dudley, Parathon
Hospitals are experiencing a substantial shortfall in revenue due to various societal, economic, and political factors directly affecting staff. On average, a typical hospital has experienced a 20% reduction in workforce in their revenue cycle department. This deficit appears to be due in large part to staff lost to competitors that offer a remote work environment compared to traditional on-site operations. Ultimately this contributes to their teams being much less productive. To counter the decrease in productivity, Parathon offers powerful solutions using its Revenue Intelligence Software and Services to ensure hospitals maximize efficiency and profit. Parathon’s solutions have proven to achieve remarkable results. For example, when collaborating with Parathon, Union General Hospital saw a 722% ROI and increased cash through Parathon’s Revenue Intelligence Software/Services. “We bring a unique combination of superior technology, extensive data, deep revenue cycle expertise and root cause analytics,” says Corby Bell, the COO of Parathon. Utilizing the embedded operational efficiencies and effectiveness of Parathon and its expert team, hospitals can reduce manual tasks and create automated business processes for their hospital clients.

Being 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 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.

  • 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.
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Top 10 Revenue Cycle Management Solution Companies - 2021

Company
Parathon

Headquarters
Naperville, IL

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