About ParaRev
ParaRev is a company based in Elgin (United States) founded in 1985 was acquired by CorroHealth in May 2022.. The company has 180 employees as of December 31, 2022. ParaRev offers products and services including PULSE Coding Automation Technology, VISION Clinical Validation Technology, REVIVE Specialized RCM Automation, and The T System. ParaRev operates in a competitive market with competitors including Access Healthcare, Performant Financial, Sagility, Alpha II and Xtend Healthcare, among others.
- Headquarter Elgin, United States
- Employees 180 as on 31 Dec, 2022
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Sectors
Healthcare
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Email
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Phone
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Website
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Social
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- Legal Name Hfri Llc
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
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Employee Count
180
as on Dec 31, 2022
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Acquired by
CorroHealth
(May 19, 2022)
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Products & Services of ParaRev
ParaRev offers a comprehensive portfolio of products and services, including PULSE Coding Automation Technology, VISION Clinical Validation Technology, REVIVE Specialized RCM Automation, and The T System. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates medical coding to boost hospital productivity and accuracy.
Supports accurate financial performance in clinical documentation.
Enhances revenue cycle processes for efficient claim management.
Provides tools for emergency department documentation and support.
Funding Insights of ParaRev
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ParaRev
ParaRev has secured backing from 1 investor. Prominent investors backing the company include CorroHealth. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Healthcare revenue cycle management services are delivered to providers.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by ParaRev
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - ParaRev
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Pararev Comparisons
Competitors of ParaRev
ParaRev operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Access Healthcare, Performant Financial, Sagility, Alpha II and Xtend Healthcare, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of revenue cycle management, BPO, IT, and finance and accounting services
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Recovery solutions for government obligations are provided by Performant Financial.
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| domain | founded_year | HQ Location |
Healthcare outsourcing, revenue management, and technology solutions are provided.
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| domain | founded_year | HQ Location |
Coding, compliance, and revenue analysis platforms are provided for healthcare.
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| domain | founded_year | HQ Location |
Revenue cycle management services are provided to healthcare organizations.
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| domain | founded_year | HQ Location |
Revenue cycle management software is provided to healthcare professionals.
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Pararev
Frequently Asked Questions about ParaRev
When was ParaRev founded?
ParaRev was founded in 1985.
Where is ParaRev located?
ParaRev is headquartered in Elgin, United States. It is registered at Elgin, Illinois, United States.
Who is the current CEO of ParaRev?
Jerry Connelly is the current CEO of ParaRev.
How many employees does ParaRev have?
As of Dec 31, 2022, the latest employee count at ParaRev is 180.
What does ParaRev do?
ParaRev was founded in 1985 and is headquartered in Elgin, United States. Operations focus on the healthcare sector, where revenue cycle management solutions are delivered to support billing, claims processing, and financial optimization for providers. Services encompass denial management, patient eligibility verification, and payment posting. The company serves clients across the U.S. healthcare landscape, with leadership provided by CEO Jerry Connelly.
Who are the top competitors of ParaRev?
ParaRev's top competitors include Access Healthcare, Sagility and Adonis.
What products or services does ParaRev offer?
ParaRev offers PULSE Coding Automation Technology, VISION Clinical Validation Technology, REVIVE Specialized RCM Automation, and The T System.
Who are ParaRev's investors?
ParaRev has 1 investor. Key investors include CorroHealth.
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