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Parathon Contract Management

You are here: Home / Solutions / Revenue Intelligence Software / Parathon Contract Management

Parathon Contract Management levels the playing field between Providers and Third Party Payers (TPPs) by empowering Providers with the best-in-class financial modeling and proprietary technology. Having access to 100% of the data ensures the Provider receives the maximum and appropriate reimbursement on their hard-earned healthcare premium dollars.

5 Pillars of Parathon Contract Management:

Parallel Database, Contract Modeling, Daily Payment Compliance, Customer Reporting & Analytical Tool, and Business Intelligence Reporting

Parathon’s Contract Specialists load, test, and maintain all contracts on an ongoing basis as the contracts are modified or renegotiated after acceptance. All contracts currently in effect will be loaded and tested by Parathon Contract Specialists to ensure accuracy and work hand in hand with the Provider on all Claim & Remit activity.

Pillar 1:

Parallel Database® (PDB™)

Parathon Contract Management is the only contract solution supported by the proprietary Parallel Database (PDB). The PBD framework is specifically designed for the healthcare Revenue Cycle pathways and designed to provide access to a 100% of the contract data. This unique and foundational database reproduces the data elements found in the HIS. Parathon streamlines the data by consolidating the revenue cycle information into a single view.

Pillar 2:

Contract Modeling

TPPs have unlimited legal, actuarial and financial resources to craft and propose reimbursement contracts to Providers. It is difficult, if not impossible, for Providers to know with certainty the true financial impact of those contracts. An analysis without the PDB can result in millions of dollars in lost revenue – even with the best attempts at historical lookbacks, trending analysis and forecasting. Models not rooted in actual contracts can yield inaccurate and costly results. With Parathon the Providers know with certainty the liquidation value of those contracts and are able to negotiate favorable terms that ensure maximum reimbursement based on real data.

Pillar 3:

Daily Payment Compliance

Promptly identifying reimbursement shortfalls and pursuing TPPs for contractual amounts typically accounts for a significant portion of revenue that is lost to Providers. Parathon allows you to closely monitor reimbursement for contractual compliance and aggressively pursue underpayments and inappropriate denials on a daily basis. Like all of the Parathon Contract Management Pillars, Daily Payment Compliance monitoring is critical in sustaining each Provider’s financial viability.

Pillar 4:

Customer Reporting and Analytical Tool

The Under Paid Receivable Open Account Report (UPROAR) tool provides unmatched collection transparency. With Parathon’s UPROAR tool, Providers have the ability to access reports daily that identify the underpaid accounts, tracks the underpayments, and most importantly exactly how much additional revenue has been collected. An additional unique UPROAR benefit is the ability to view the data broken down by individual Payer.

Pillar 5:

Business Intelligence Reporting

The most comprehensive FLASH Dashboard and reporting tool designed specifically for maximizing revenue collections. Parathon provides access to the most accurate and complete data because of the proprietary PDB. With complete data provided by Parathon, the Provider can generate advanced reporting and business intelligence.

Add-ons for Parathon Contract Management:

CDM Price Sensitivity (Chargemaster services), Work Lists, ACO Reimbursement, A/R Vendor Management, Patient Facing Estimator, Patient Responsibility Estimator, Price Transparency, Zero Balance, Underpayments, Denial Management/Clinical & Technical, Zero Payment, A/R Rundown

  • Grady Health System

    Testimonials


    Grady Health System


    Sandra Johnson


    Former Vice President Revenue Cycle Management


    “We use the Emergency Department Triage services with Parathon. We have had a great experience working with them, they submit appeal letters and help us with our denials. In one year they have collected almost 1 million dollars for us. Their overturn rate has been 66 percent. Working with Parathon is definitely worth it. I have been very impressed by everything they have done for our organization.”


  • Honor Health

    Testimonials


    Honor Health


    Cameron Wilson


    Director Payor Contracts


    “Parathon has been great to work with. They are extremely flexible. We have many nuisance and challenging contracts and methodologies. We have been able to work quickly and efficiently to get our modeling set up accurately and to feel comfortable with the numbers we are producing. They are easy to get in touch with and always work with us to get the right answers. This is paramount to our relationship.”


  • NorthShore University HealthSystem

    Testimonials


    NorthShore University HealthSystem


    Kathleen Smith


    Director of Patient Financial Services



    “I really value the practices that Parathon has implemented. We use them for denials recovery and they had a lot of positive results on things that were well past timely filing. I continue to work with Parathon because I have found that they are a vendor I can trust, they give me optimal results and have effective communication.”


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