SOURCE: Healthcare Financial Management Association

Healthcare Financial Management Association

November 13, 2014 14:33 ET

Parallon Earns HFMA's MAP Keys Compliant Designation

CHICAGO, IL--(Marketwired - November 13, 2014) - The Healthcare Financial Management Association (HFMA) announced that Parallon, the leading provider of healthcare business and operational services, is now recognized as part of HFMA's MAP Keys Compliant Program. Launched in 2012, the program evaluates and designates products with data-capture and data-reporting capabilities that support the use of MAP Keys (KPIs) to track, compare, and improve revenue cycle performance.

Parallon received the designation for its full-service revenue cycle outsourcing service, which provides end-to-end services and technologies to drive maximum revenue recovery and process efficiency. Parallon's revenue cycle shared services model provides solutions from patient registration through full account resolution in 250 client hospitals and more than 600 physician offices, serving 2,500+ physicians. With more than 14,000 revenue cycle professionals, Parallon drives real solutions for healthcare providers, including collecting approximately $35 billion in annual cash, recovering $650 million in underpayments/denials annually and reducing cost to collect by 10 to 20 percent.

"As the world of healthcare quickly evolves, it's vital that providers have access to advanced business intelligence and analytics to, not only make informed decisions, but create efficiencies and process improvement," said Eric Ward, president and chief executive officer for Parallon's Revenue Cycle Services. "Parallon's MAP Keys Compliant data elements provide the basis for benchmarking performance across the industry. We are proud to be a part of this program; helping to drive the analytics behind industry-standard key performance indicators."

Once Parallon submitted its full-service revenue cycle outsourcing for MAP Keys Compliant consideration, HFMA rigorously scrutinized the source data-capture, extraction, and reporting capabilities of the technology. HFMA then identified which specific data elements -- and related MAP Keys -- Parallon's revenue cycle outsourcing provides.

"Parallon's platform went through the same intense scrutiny we place on every information solution submitted for MAP Keys Compliant consideration," says Paul Bielat, vice president, product development, HFMA. "Clearly, Parallon's solution is a reliable source of data in relation to HFMA's MAP Keys industry-standard benchmarking metrics and we're honored to recognize Parallon's efforts."

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. parallon.com

About HFMA

With more than 40,000 members, the Healthcare Financial Management Association (HFMA) is the nation's premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care.

Contact Information

  • Karen Thomas
    Healthcare Financial Management Association
    (708) 492-3377
    kthomas@hfma.org