Parallon was named Category Leader in Revenue Cycle Outsourcing in KLAS’ annual report, “The Best in KLAS Awards for Software and Professional Services,” released January, 2015. Based on interviews with thousands of providers over the course of 2014, the report recognizes high-performing vendors, with the goal of enabling providers to make more informed decisions.
“We continue to deliver an integrated approach to help improve operational outcomes for healthcare providers through our revenue cycle solutions. This is especially important as revenue cycle management becomes increasingly more complex,” said Eric Ward, president and chief executive officer, Parallon Revenue Cycle Services. “Earning this designation again is a great honor.”
In the KLAS research report, “Revenue Cycle Outsourcing: Tools, Expertise and Resources Key to Improved Collections,” released January, 2014, Parallon was named the highest overall performing revenue cycle outsourcing company, scoring the highest in reducing accounts receivable days and the cost to collect, and in increasing the net collection ratio due to strong tools, technologies and processes. It noted that due to its proven workflow and technology, Parallon had the highest impact in nearly every key metric.
Parallon Revenue Cycle Services offers solutions from patient registration through full account resolution, serving approximately 700 client hospitals and more than 2,500 physician practices. With more than 15,000 revenue cycle professionals, Parallon drives real solutions for healthcare providers, including collecting approximately $35 billion in annual cash, recovering $650 million in underpayments and denials annually and reducing cost to collect by 10 to 20 percent.