Season both sides of each chicken breast with salt and pepper.
Heat olive oil in a large skillet over medium heat. Add the chicken breasts and cook for 5-7 minutes on each side, or until golden and cooked through. Remove the chicken from the skillet and set aside.
In the same skillet, add the sliced mushrooms. Sauté for about 3-4 minutes until they’re soft and browned. Remove from the skillet and set aside with the chicken.
Lower the heat to medium-low. In a small bowl, whisk together the heavy cream and chicken broth, then pour it into the skillet. Stir to combine, scraping up any brown bits from the bottom of the skillet.
Slowly add the shredded cheddar and parmesan to the sauce, stirring until it’s melted and smooth.
Return the chicken breasts and mushrooms to the skillet, and spoon the creamy sauce over the chicken. Sprinkle the cooked bacon on top and let everything simmer for about 3-4 minutes, allowing the flavors to meld.
Garnish with chopped green onions or parsley for a pop of color. Serve hot, paired with a side of roasted veggies or cauliflower rice.