Parathon’s Contract Management Software helps level the playing field between Providers and Third-Party Payers (TPPs) by equipping healthcare organizations with industry-leading financial modeling tools and proprietary technology. You, through Parathon, have total control of your data, 100% of it. You gain the insight needed to secure the maximum, contractually appropriate reimbursement for the care you’ve delivered.
Key Benefits for Healthcare Organizations
Parathon’s Healthcare Contract Management Software is designed to give hospitals and healthcare providers complete control over their contracting processes. By integrating seamlessly with our Revenue Intelligence Software and Denial Management Software, organizations gain a comprehensive view of financial performance, contract compliance, and revenue cycle optimization. Providers can also leverage our Price Transparency Solutions to ensure CMS compliance and improve patient cost visibility. Together, these solutions create a fully connected platform that supports smarter decision-making, maximizes revenue, and enhances operational efficiency across the healthcare system.
Improve Revenue Accuracy
Automatically identify underpayments, variances, and denials daily to capture every healthcare premium dollar owed.
Enhance Contract Visibility
Consolidate all revenue cycle data from your EMRs into one comprehensive view for improved decision-making.
Optimize Contract Negotiations
Use powerful predictive modeling to analyze the financial impact of proposed contract changes before negotiations.
Streamline Compliance and Reporting
Generate customized, detailed reports and analytics effortlessly to ensure full compliance and facilitate proactive revenue management.
Key Features of Parathon Contract Management
Parallel Database®
(PDBTM)
Our proprietary foundational database replicates the exact financial and some of clinical data elements from your Hospital Information System (HIS), while consolidating disparate data from various EMRs into a unified, enterprise-wide view. Purpose-built for revenue cycle workflows, the PDB is the backbone of contract management accuracy and efficiency.
Daily Payment Compliance
Stay fully informed on payment performance, denial trends, and underpaid accounts through automated daily monitoring. Key capabilities include:
- Variance and denial reporting
- Full visibility into every account for repricing and expected reimbursement
- UPROAR Tool: Our Under Paid Receivable Open Account Report offers unmatched transparency in collections
- Daily insights into underpayments, revenue recovery, and payer-specific performance
Contract
Modeling
Prepare for negotiations and scenario planning with the industry’s most powerfull and robust intelligent, predictive tools. Capabilities include:
- "What-if" modeling for any proposed contract changes
- Data-backed support for payer negotiations
- Optional Upgrade: Let Parathon’s team handle predictive modeling for even deeper insights
Reporting and Analytics
Gain unmatched visibility into financial performance through robust, customizable reporting tools:
- User-friendly report builder with advanced filtering capabilities
- Comprehensive dashboards for at-a-glance intelligence
- In-depth Business Intelligence (BI) reporting for data-driven decisions
- Month-end close accuracy and individual contract performance insight
- Enhanced transparency through the proprietary PDB framework, ensuring the most complete and accurate data available
- Enhanced transparency through the proprietary PDB framework, ensuring the most complete and accurate data available
With Parathon Contract Management, you’re not just monitoring contracts
— you’re managing them with precision, clarity, and confidence.
“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.”
“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.”
“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.”
Unlock Your Organization's Full Revenue Potential
Request a Free Demo Today to discover how Parathon can transform your revenue cycle management and drive financial success for your organization.
