Preheat your oven to 350 degrees Fahrenheit.
Cook the bacon in a large skillet over medium heat until it is crispy, about 7-10 minutes. Remove the bacon and let it drain on a paper towel-lined plate.
Bring a pot of salted water to a boil and add the elbow pasta. Cook for 8 minutes or until the pasta is al dente. Drain and set aside.
In a large saucepan, melt the butter over medium heat. Add in the flour and whisk constantly for 3 minutes to create a roux. Stir in the milk, salt, and dry mustard and cook until thickened, about 5 minutes.
Remove the pan from the heat and add in the shredded cheese. Stir until all of the chees is melted and combined.
Add the cooked pasta to the cheese sauce and stir until everything is evenly combined.
Pour the macaroni and cheese into a greased 9x13-inch baking dish. Sprinkle on the bacon and Panko bread crumbs.
Bake for 25-30 minutes until the macaroni and cheese is bubbly and golden brown on top. Sprinkle with fresh parsley before serving.