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TMCNet:  KLAS Research Report Recognizes Parallon with Highest Performance Scores in Revenue Cycle Outsourcing

[December 19, 2013]

KLAS Research Report Recognizes Parallon with Highest Performance Scores in Revenue Cycle Outsourcing

FRANKLIN, Tenn. --(Business Wire)--

Parallon announced today that it has earned the highest overall performance ratings of fully rated revenue cycle outsourcing companies in a KLAS Research Report, "Revenue Cycle Outsourcing 2013: Tools, Expertise and Resources Key to Improved Collections." The report, released December, 2013, noted Parallon scored the highest in reducing A/R days and the cost to collect and in increasing the net collection ratio due to strong tools, technologies and processes. The report is based on in-depth interviews of healthcare providers who currently outsource their revenue cycle management services.

The report distinguished that "Parallon stands out as having the highest impact overall in almost every key metric due to proven workflow and technology." Key performance metrics evaluated in the report include: cost to collect, increase of collections as a percentage of collectable accounts (net collection ratio), denials management, reduction in A/R days and discharge not final billed (DNFB).

"We understand the pressures providers are under to curb costs and to find greater process efficiencies while delivering exceptional patient care. Working alongside our clients, we leverage our operational expertise, best practices and commitment to enabling technologies to improve outcomes," said Eric Ward, president and chief executive officer of Parallon's revenue cycle services business unit. "It is an honor to receive validation from clients that our integrated approach and customizable revenue cycle solutions bring immediate and meaningful impact."

One client specifically highlighted "Parallon's strong relationship-building ability with payers" as a key reason for its high performance with DNFB. Another healthcare provider added further commentary, noting, "There are pressures because of reimbursement cuts and regulations that we will be focused on, so we want to leave our revenue cycle up to the experts at Parallon …"

Parallon also earned the highest ratings in all three technology impact areas evaluated, with providers noting the company's easy-to-use technology, quick improvements in processes and efficiencies and actionable dashboards.

Parallon has built a reputation for end-to-end, scalable revenue cycle management services, and the latest report highlights Parallon's leadership in this area. Launched as a subsidiary of HCA - Hospital Corporation of America in 2011, Parallon is credited for bringing today's modern revenue cycle shared services model to the healthcare industry. Today, Parallon is responsible for collecting $35 billion in cash annually and recovering $750 million in underpayments and overturned denials annually. In the past year, Parallon's revenue cycle business unit has seen steady growth through client engagements with market-leading healthcare organizations and pioneering business intelligence and analytics tools that have garnered national mainstream accolades.

About KLAS

KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and counted. Working with thousands of healthcare professionals and clinicians, KLAS gathers data on software, services, medical equipment, and infrastructure systems to deliver timely reports, trends, and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. Follow KLAS on Twitter (News - Alert) at www.twitter.com/KLASresearch.

About Parallon

Headquartered in Franklin, Tenn., Parallon Business Solutions, LLC is a leading provider of healthcare business and operational services. Parallon partners with hospitals and healthcare systems to improve their business performance through proven practices in revenue cycle; technology; workforce management and consulting, in addition to group purchasing and supply chain management through Healthtrust Purchasing Group, L.P. Parallon is dedicated to bringing deep and evolving industry knowledge, a long track record of operational excellence and a broad portfolio of services to all partnerships in order to help clients thrive in the communities they serve. Together with its affiliates, Parallon employs more than 24,000 professionals and serves more than 1,400 hospitals and 11,000 non-acute care providers, including ambulatory surgery centers, physician practices and alternate care sites. Visit www.parallon.com or follow @ParallonConnect.


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