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.
The 4 Pillars of Parathon Contract Management
Parallel Database (PDB), Daily Payment Compliance, Contract Modeling, Reporting & Analytics
On an ongoing basis Parathon staff load, test, and maintain all Provider contracts as they are modified or renegotiated after acceptance. All contracts currently in effect are ensured for full accuracy in the Parathon software suite. The Parathon staff works closely with the Provider staff on all Claim & Remit activity.
Pillar 1:
Parallel Database® (PDB™)
- Proprietary foundational database that reproduces the exact data elements found in the Provider HIS
- Consolidates revenue cycle information from all disparate EMR sources into a single view
- Specifically designed for the healthcare Revenue Cycle pathways
Pillar 2:
Daily Payment Compliance
- Variance reporting
- Denial reporting
- 100% account visibility for repricing and expected rates
- Payment Integrity (expected reimbursements, contractual adjustments)
- The Under Paid Receivable Open Account Report (UPROAR) tool for unmatched collection transparency
- Access reports daily that identify the underpaid accounts, tracks the underpayments, and exactly how much additional revenue has been collected
- View the data broken down by the individual Payer
Pillar 3:
Contract Modeling
- Predictive Modeling for ‘What-ifs’ regarding any contract changes
- Payer negotiation data analysis
- Upgrade Option Available: Parathon staff performs the Predictive Modeling
Pillar 4:
Reporting & Analytics
- Customer Reporting & Analytical Tool
- Comprehensive and custom Report Writer
- Search by using the Advanced Filters tool to pull detailed reports from a broad range of data points
- Business Intelligence Reporting
- Comprehensive Dashboard and advanced reporting tool to maximize revenue collections
- For complete accuracy with month-end-close
- Individual contract performance insight to maximize contract negotiations
- Access to the most accurate and complete data because of the proprietary PDB framework
