After an initial announcement in February, HCA Holdings officially launched a new subsidiary that will offer healthcare providers a range of businesses services including revenue cycle, staffing management, and supply chain solutions.
As part of its second company reorganization, HCA intends Parallon Business Solutions to work "in parallel" with other healthcare providers to improve their performance and delivery of care.
"HCA has developed a number of best demonstrated business practices that leverage our collective experience, scale and expertise in a way that is unprecedented in the healthcare industry," Richard M. Bracken, Chairman and CEO of HCA, said in a statement. "Now, the customers of Parallon Business Solutions will be able to benefit from this knowledge."
Even though HCA already provides hospital management processes to its own hospitals, this new subsidiary could create competition for other companies that offer similar business services to healthcare providers in the Tennessee and nationwide, notes the Nashville Business Journal.
One unit of Parallon will provide revenue cycle management, payroll, health information management and physician credentialing. A second unit will focus on strategic healthcare staffing and recruiting solutions to help hospitals increase operational efficiencies and improve employee satisfaction. A third unit will optimize facility inventory to make sure hospitals have the right products at the right time.
For more:
- here's the HCA announcement
- read the Nashville Business Journal article