Parathon: Healthcare Revenue Cycle Management Made Simple

The second pillar of Parathon is contract management and the company is able to adjudicate 100 percent of the claims from third-party intermediaries—which are the brokers between real payers (employers) and healthcare providers. This is important because a significant portion of hospital income is dependent on the ubiquitous intermediaries such as insurance companies—whose incentive is to boost their bottom line by minimizing payments remitted to healthcare providers. In addition to its unparalleled function-rich software system for contract management, Parathon highly experienced specialists ensure that RCM contracts are processed with 100 percent accuracy.

Our objective is to empower providers to improve financial performance, streamline operations, and increase patient engagement

The final pillar of Parathon addresses the challenges—that every healthcare provider struggles with— associated with utilizing several bolt-on functionalities from multiple solutions to patch deficiencies in RCM, EMR, and other systems. Parathon has integrated these functionalities so that all the disparate systems can reside in one location and be managed through a single interface. Illustrating the true value of Parathon’s solutions, Dudley mentions the case of a large hospital network with 2 billion dollar net revenue. The entity comprised 20 hospitals and struggled to manage several disparate systems, which had a negative impact on their revenue. Parathon’s solutions enabled the client to have a unified view of their revenue cycle operations and, at the same time, manage claims and payments. Also, Parathon helped the client improve efficiencies in their revenue cycle and, as a result, improved profits by 200 million over five years.

Parathon possesses the experience and expertise required to handle the inner technical workings of leading EMR and health information systems in the U.S. And due to the several years of experience with RCM, Parathon is able to seamlessly integrate its RCM solutions to a client’s existing systems. Moreover, Dudley adds, “We don’t just offload our solutions, we bear the majority of the effort required to deploy them.” Moving forward, Parathon remains committed to keeping up with the latest technologies and incorporating them into its solutions. The company is also developing new functionality around that will bring about price transparency regarding the healthcare revenue cycle. And with its robust set of software solutions centered on RCM, Parathon has carved a niche in the market as a valuable asset to healthcare providers.