RCM Diligence — Risk Workbench
Tier 1-3 + Counterfactual Advisor
🛡️ Public data only — no PHI permitted on this instance.
Regulatory Risk Workbench
Steward Health Care (2016 replay)
Live panels for the 9 Tier-1/2/3 diligence subpackages (Prompts G-O). Each panel runs its engine against the supplied inputs; panels without inputs render not supplied rather than fabricating numbers.
How to read these panels: Each panel shows the target's standing in one of the nine diligence subpackages plus a what this shows explanation of what the band means in partner-speak. GREEN = in-line with peer norms; YELLOW = manageable but watch; RED / CRITICAL = thesis-breaking without offer-shape modification. Counterfactual Advisor at the bottom quantifies every RED/CRITICAL lever.
Bankruptcy-Survivor Scan
SCAN · CRITICALVerdictCRITICAL
Patterns hit6 / 12 (2 critical)
What this shows:≥3 of the 12 named bankruptcy patterns matched. This is the same signature that preceded Steward, Envision, and Hahnemann. Typically a walkaway unless the critical patterns are mitigable.
Regulatory Exposure (G)
REG · YELLOWCPOM (2 states)YELLOW
TEAM (14460)YELLOW
Site-neutralYELLOW · 8.5% erosion
Total $ at risk$2,725,000peer norm ≤ $15M
What this shows:Regulatory composite is YELLOW — manageable but needs to show up in the 100-day plan. Not a walkaway; is a diligence question for the seller.
Real Estate (H)
RE · CRITICALSteward tierCRITICAL
Factors hit5 / 5
Case matchSteward Health Care (2016 MPT sale-leaseback → 2024 bankruptcy)
Rent PV (10y)$252,468,837
Rent % revenue13.9%peer median ~3% (MPT tenants 8-12%)
EBITDAR coverage1.20xpeer median ≥1.5x
What this shows:Cyber posture is CRITICAL — a Change-Healthcare-class incident would exceed typical bridge reserves. Add a cyber BI loss line to the bridge at the modeled dollar exposure.
Physician Comp + Attrition (J)
COMP · UNKNOWNNot supplied — no provider roster
Cyber Posture (K)
CYBER · REDCyberScore25 / 100healthy ≥75 · at-risk ≤50
Bridge reserve5.0% of revenuepeer norm 0.5% · stressed 3-5%
BI expected loss$7,997,527
BA cascade findings2 (1 critical)
What this shows:Cyber posture is RED. Change-Healthcare-class exposure — model the BI loss as a bridge reserve line, not a background risk. A single 30-day incident can exceed the entire year's EBITDA.
MA Dynamics (L)
MA · UNKNOWNNot supplied — no MA inputs
Quality / WC / Synergy (N)
VBP/HRRP (2★)HIGH · $-3,420,000/yr
NWC peg$14,750,000
DNFBMEDIUM · 5.5d
Pre-close pull-forwardLOW · 1.11x
Labor / Referral (M)
Wage inflation (RN, California (CA))5.8%/yr → $112,680,111 Y5
Synthetic FTELOW · 7% gap
Top-5 share12.5%
Departure stressLOW · 2.5%
Patient-pay / Reputational (O)
HDHP exposureMEDIUM · $968,000
State AG tierHIGH · MA
Bankruptcy clusterCRITICAL