RCM Diligence — Checklist — SeekingChartis Corpus

🛡️ Public data only — no PHI permitted on this instance.

Diligence Checklist

Coverage + Open Questions

Auto-tracked from live analytics · partner overrides via URL

7 P0 items still open + 9 P1 — P0 coverage 73%. Do not schedule IC until P0 = 100%.

How to read: P0 coverage is the single go/no-go gauge for IC. Items tied to analytics auto-mark DONE when the analytic is run. Manual items (management references, legal review) need an explicit override — "Mark done" link on each row. All overrides are URL-encoded so you can share a state snapshot by copying the URL.

P0 coverage

73%

Blocking IC

Total done

22/40

55% of all items

Open P0

must close before IC

Open P1

assign owners

Open questions for IC (16)

Every P0/P1 item that remains OPEN or BLOCKED. This list is what the IC Packet "Open Questions" section prints — close the loop on each before the memo ships.

P0Has the HCRIS-Native Peer X-Ray benchmarked the target against 25-50 filed Medicare cost reports?ANALYST

P0Seller legal review — corporate structure, equity rollover, reps + warranties — signed off?LEGAL

P0Commercial payer contract review — top-5 payer contracts' carveouts, escalators, termination clauses, auto-renewal?LEGAL

P0Has the Regulatory Calendar × Thesis Kill-Switch been run to map upcoming CMS / OIG / FTC / DOJ / NSA-IDR events to the target's thesis drivers?ANALYST

P0Has the Covenant & Capital Stack Stress Lab been run to quantify per-quarter covenant-breach probability and equity-cure sizing?ANALYST

P0Quality-of-Earnings memo drafted and reviewed?PARTNER

P0IC Packet assembled (12 sections with partner synthesis + walkaway + open questions)?PARTNER

P1Cost to collect benchmarked against HFMA peer median?ANALYST

P1Corporate Practice of Medicine (CPOM) state exposure assessed?LEGAL

P1TEAM (CMS Transforming Episode Accountability) exposure reviewed?ANALYST

P1Labor + referral leakage reviewed (synthetic FTE, wage inflation, referral concentration)?ANALYST

P1Management team reference calls (CEO / CFO / RCM-ops director) completed?PARTNER

P1Real estate title + environmental + survey report for every owned facility?EXTERNAL

P1Seller disclosure schedule review — pending litigation, regulatory audits, DOJ/OIG matters?LEGAL

P1Has the Payer Mix Stress Lab stress-tested the target's commercial + government payer portfolio?ANALYST

P1Normalised working-capital target estimated + reconciled to seller's proposed peg?ANALYST

Items by phase · click an evidence link to drill in

Phase 1 · Pre-NDA screening

3/4 done · 75%

DONEP0

Has the Bankruptcy-Survivor Scan been run against the 12 named failure patterns?

SCREENING

ANALYST

Item	Phase	Category	Priority	Status	Owner	Question
scan_bankruptcy_survivor	1	SCREENING	P0	DONE	ANALYST	Has the Bankruptcy-Survivor Scan been run against the 12 named failure patterns?
scan_deal_autopsy	1	SCREENING	P0	DONE	ANALYST	Has a historical-analog signature match been run (Deal Autopsy)?
scan_sector_sentiment	1	SCREENING	P1	DONE	ANALYST	Is the sector sentiment from the market-intel feed consistent with the deal thesis?
ingest_ccd	2	INGEST	P0	DONE	ANALYST	Has the Canonical Claims Dataset been ingested from the seller's 837/835 files?
benchmark_days_in_ar	2	BENCHMARKS	P0	DONE	ANALYST	Days in A/R benchmarked against HFMA peer median?
benchmark_denial_rate	2	BENCHMARKS	P0	DONE	ANALYST	First-pass denial rate benchmarked against HFMA peer median?
benchmark_ar_aging	2	BENCHMARKS	P0	DONE	ANALYST	A/R aging > 90 days benchmarked?
benchmark_cost_to_collect	2	BENCHMARKS	P1	OPEN	ANALYST	Cost to collect benchmarked against HFMA peer median?
benchmark_net_revenue_realization	2	BENCHMARKS	P0	DONE	ANALYST	Net revenue realization benchmarked?
benchmark_cohort_liquidation	2	BENCHMARKS	P1	IN PROGRESS	ANALYST	Cohort liquidation curve computed (shows cohort censoring + liquidation tail)?
benchmark_denial_pareto	2	BENCHMARKS	P1	DONE	ANALYST	Denial Pareto root-cause table produced?
benchmark_qor_waterfall	2	BENCHMARKS	P0	DONE	ANALYST	Quality-of-Revenue waterfall reconciliation run against management revenue?
predictive_denial_model	2	PREDICTIVE	P0	DONE	ANALYST	Claim-level denial prediction model trained and calibrated?
predictive_physician_attrition	2	PREDICTIVE	P0	DONE	ANALYST	Physician flight-risk (P-PAM) scored across the roster?
risk_cpom	3	RISK	P1	OPEN	LEGAL	Corporate Practice of Medicine (CPOM) state exposure assessed?
risk_nsa	3	RISK	P0	DONE	ANALYST	No Surprises Act exposure assessed (OON share + IDR arbitration exposure)?
risk_steward	3	RISK	P0	DONE	ANALYST	Real-estate Steward Score computed (sale-leaseback risk + EBITDAR coverage)?
risk_team	3	RISK	P1	OPEN	ANALYST	TEAM (CMS Transforming Episode Accountability) exposure reviewed?
risk_antitrust	3	RISK	P0	DONE	LEGAL	Antitrust / HHI concentration check for the target's footprint?
risk_cyber	3	RISK	P0	DONE	ANALYST	Cyber posture composite + BI-loss estimate produced?
risk_ma_v28	3	RISK	P0	DONE	ANALYST	Medicare Advantage V28 recalibration impact computed?
risk_physician_comp_fmv	3	RISK	P0	DONE	LEGAL	Physician comp benchmarked against FMV p25/p50/p75 + Stark red-lines checked?
risk_labor_referral	3	RISK	P1	OPEN	ANALYST	Labor + referral leakage reviewed (synthetic FTE, wage inflation, referral concentration)?
risk_patient_pay	3	RISK	P2	IN PROGRESS	ANALYST	Patient-pay + reputational overlays reviewed?
fin_ebitda_bridge	4	FINANCIAL	P0	DONE	ANALYST	EBITDA bridge with 7 levers built (denial reduction, coding uplift, contract yield, WC optimization, labor inflation, reg-headwind, cyber reserve)?
fin_deal_mc	4	FINANCIAL	P0	DONE	ANALYST	Deal Monte Carlo run (3000 trials, 5-year forward MOIC/IRR distribution, variance attribution, sensitivity tornado)?
fin_counterfactual	4	FINANCIAL	P0	DONE	PARTNER	Counterfactual Advisor — offer-shape modifications to flip every RED/CRITICAL finding?
fin_market_intel	4	MARKET	P1	DONE	ANALYST	Public-operator comps + transaction multiples pulled for the target's category?
fin_working_capital_peg	4	FINANCIAL	P1	OPEN	ANALYST	Normalised working-capital target estimated + reconciled to seller's proposed peg?
deliver_qoe	5	DELIVERABLE	P0	OPEN	PARTNER	Quality-of-Earnings memo drafted and reviewed?
deliver_ic_packet	5	DELIVERABLE	P0	OPEN	PARTNER	IC Packet assembled (12 sections with partner synthesis + walkaway + open questions)?
manual_mgmt_references	3	MANUAL	P1	OPEN	PARTNER	Management team reference calls (CEO / CFO / RCM-ops director) completed?
manual_legal_review	3	MANUAL	P0	OPEN	LEGAL	Seller legal review — corporate structure, equity rollover, reps + warranties — signed off?
manual_commercial_contract_review	3	MANUAL	P0	OPEN	LEGAL	Commercial payer contract review — top-5 payer contracts' carveouts, escalators, termination clauses, auto-renewal?
manual_real_estate_title	3	MANUAL	P1	OPEN	EXTERNAL	Real estate title + environmental + survey report for every owned facility?
manual_seller_disclosure	3	MANUAL	P1	OPEN	LEGAL	Seller disclosure schedule review — pending litigation, regulatory audits, DOJ/OIG matters?
regulatory_calendar_scan	3	RISK	P0	OPEN	ANALYST	Has the Regulatory Calendar × Thesis Kill-Switch been run to map upcoming CMS / OIG / FTC / DOJ / NSA-IDR events to the target's thesis drivers?
covenant_stress_simulation	4	FINANCIAL	P0	OPEN	ANALYST	Has the Covenant & Capital Stack Stress Lab been run to quantify per-quarter covenant-breach probability and equity-cure sizing?
hcris_peer_xray	1	SCREENING	P0	OPEN	ANALYST	Has the HCRIS-Native Peer X-Ray benchmarked the target against 25-50 filed Medicare cost reports?
payer_mix_stress	3	RISK	P1	OPEN	ANALYST	Has the Payer Mix Stress Lab stress-tested the target's commercial + government payer portfolio?