Parathon: A History of RCM “Firsts”
Parathon’s innovation and continually evolving RCM solutions have been at the forefront of RCM technology for the past thirty years.
1992Claims Clearing, On-line Eligibility and Claim Status Inquiries
Our founders executed the first successful real-time electronic Eligibility and Claim Status inquiries while also becoming one of the first electronic Claims Clearing Houses principally serving the physician market.
1995Capitation Administration Software
We introduced CommuniCap as the premier capitation administration software system. CommuniCap allowed provider groups, such as IPAs and MSOs, to administer their own private networks of capitated patient populations under the HMO delivery model that was predominant until about 2000.
2000 Robust Calculation Engine
By adapting comprehensive claims adjudication functionality from CommuniCap, Parathon introduced powerful daily payment compliance software allowing hospitals to verify that Third Party Payer (TPP) claim reimbursement was compliant with hospitals’ TPP contracts. We refer to this as the First Pillar of Parathon Contract Management.
2001Parallel Database (PDB®)
Parathon’s Parallel Database integrates all financial and patient accounting data from legacy EMRs into our proprietary PDB®. We created the first and only system that consolidates all revenue cycle EMRs and bolt-on silos into a true single-enterprise solution.
2002TPP Contract Modeling
Parathon introduced contract modeling allowing hospitals to accurately determine if new and updated TPP contract proposals will reimburse what the TPP represents. We refer to this as the Second Pillar of Parathon Contract Management.
2008Charge Data Master Price Sensitivity Analysis
The first and most complex tool for micro-analyzing a CDM to maximize TPP reimbursement using billions of price combinations and permutations. We refer to this as the Third Pillar of Parathon Contract Management.
2012Core RCM Enterprise Platform
We developed a comprehensive workflow manager into Parathon’s Three Pillars of Contract Management; we added a robust reporting tool and integrated it all into Parathon’s PDB® to create a simple but powerful RCM platform.
As the internet transformed data processing technology, we made significant data and interface enhancements to Parathon that allowed providers optimized SaaS access and the ability to take advantage of the model’s advanced features, particularly related to security and disaster recovery.
2018Revenue Recovery Services
In response to client requests for outsource assistance collecting balances related to complex claims, denials, and underpays, we added an expert staff of collectors to provide follow-up services.
2020Transforming RRS to Parathon Recovery Services
Revenue Recovery Services were dramatically enhanced and internally integrated into Core Parathon to allow our staff to administer the total outsource of Providers’ Patient Financial Services (PFS) and Central Billing Offices (CBO) functions.