Cook penne pasta according to package instructions. Drain and set aside.
In a large skillet, combine shredded chicken, ranch seasoning, cheddar cheese, cream cheese, heavy cream, chicken broth, garlic powder, onion powder, and black pepper.
Stir and cook over medium heat until the cheese is melted and the sauce is creamy.
Add the cooked pasta and stir until well coated.
Mix in crumbled bacon and cook for another 2 minutes.
Serve warm, garnished with chopped parsley if desired.