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TMCNet:  Parallon Named Category Leader in 2013 Best in KLAS Report for Revenue Cycle Outsourcing

[January 30, 2014]

Parallon Named Category Leader in 2013 Best in KLAS Report for Revenue Cycle Outsourcing

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

Parallon announced today that it has earned the distinction of Category Leader in Revenue Cycle Outsourcing in the annual "2013 Best in KLAS Awards for Software and Professional Services" report. This is the first time revenue cycle outsourcing has appeared in the report, and Parallon attributes this consideration to the growing demand for this service by healthcare providers. Parallon expects this interest to continue as providers look for greater efficiencies and cost savings to help address mounting reimbursement and cost pressures and complexities.

"We are honored our clients recognize that our integrated approach is helping to improve operational outcomes," said Eric Ward, president and chief executive officer of Parallon's revenue cycle services business unit. "It's critical for providers to be able to maximize revenue recovery and payment compliance while driving operational efficiencies and cost savings. Our deep expertise, demonstrated best practices and commitment to enabling technologies play a critical role in delivering these positive outcomes to healthcare organizations."

The Category Leader honor comes on the heels of Parallon's recent distinction as the highest overall performer of fully rated revenue cycle outsourcing companies in the KLAS Research Report, "Revenue Cycle Outsourcing: Tools, Expertise and Resources Key to Improved Collections." The report, released January, 2014, 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. It also ited 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 included: cost to collect, increase of collections as a percentage of collectable accounts (net collection ratio), denials management, reduction in A/R days and discharged not final billed (DNFB).


Parallon has built a reputation for end-to-end, scalable revenue cycle management services, and the latest KLAS recognition highlights Parallon's leadership in this area. 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, including "Best of BI" by ComputerWorld and "Best Practices in Business Intelligence" by MicroStrategy (News - Alert), Inc.

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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