In a large mixing bowl, combine the ground beef, breadcrumbs, grated Parmesan cheese, egg, dried thyme, garlic powder, salt, and black pepper. Mix thoroughly until all ingredients are fully incorporated.
Scoop out portions of the mixture and roll them into 1.5-inch meatballs. You should yield about 12-15 meatballs. Place them on a plate or tray and set aside.
In a large skillet, heat the butter and olive oil over medium heat. Add the thinly sliced onions and cook slowly, stirring every few minutes, for approximately 15-20 minutes until they are soft and golden brown.
Add the formed meatballs to the skillet with the caramelized onions. Cook for about 5-7 minutes, gently turning the meatballs to ensure they brown evenly on all sides.
Pour the beef broth into the skillet, covering the meatballs and onions. Reduce the heat to low and cover the skillet. Let it simmer for 15-20 minutes, or until the meatballs are fully cooked through.
In the final few minutes of cooking, sprinkle the shredded Swiss cheese over the meatballs. Cover the skillet again and allow the cheese to melt entirely.
Remove the skillet from heat. Garnish with finely chopped fresh parsley and serve warm.
Notes
Serve with crusty bread or over noodles for a complete meal.