Prove the Revenue, Not the Story.

Aegis gives investors a defensible view of revenue quality, contract strength, and regulatory risk—before capital moves. We validate what’s in the deck, quantify what isn’t, and map the truth behind the revenue so you buy with confidence (or walk away fast).

This is a ground-up validation of the target’s contracts-to-cash engine—from intake to cash and every edit, denial, and underpayment in between. We normalize data, benchmark contracts and pressure test the actual mechanics of how dollars move (or don’t). The result is a defensible view of revenue quality, compliance exposure, and near-term levers you can execute. Move fast with facts—or walk away before optimism becomes overpayment.

What We Cover (or Uncover):

Intake → Coding → Submission → Cash: charge capture, code selection, modifiers, clearinghouse errors, timeliness.
Payer & Contract Setup: fee schedules, carve-outs, escalators, prior auth/UM terms, timely filing, appeal windows, audit provisions.
Denials & Underpayments: rate realization vs. contracted, root-cause mapping, overturn rates, silent write-offs.
EMR/Billing Configuration: edits, work queues, automation, reconciliation, data integrity, staffing model.
KPI Normalization: first-pass yield, denial rate, DSO, net collection rate, charge lag; cohorting by service line and payer mix.
Compliance & Documentation: medical necessity signals, supervision/scope checks, record sufficiency, retention practices.
Cash Reality Checks: billed → allowed → paid waterfall, credits/refunds, A/R aging integrity, seasonality effects.
Value Creation Levers: rate uplift potential, contract renegotiation targets, edit tuning, prepay control upgrades.

Process & Timelines. Scale depends on entity complexity, data readiness, payer/contract mix, and service lines. Fixed-fee phases or sprint pilots available;

Week 0–1: Access & Align — data handshake, scope, materiality thresholds, target cohorts.

Week 1–3: Analyze & Validate — normalization, benchmarking, clinical/policy review to reduce noise.

Week 3–4+: Report & Decide — investor memo, cash bridge, upside/exposure; SPA levers (price, R&Ws, holdbacks).

Why It Matters.

Valuation grounded in cash, not accrual optimism.
SPA leverage: price adjustments, representations, escrows, indemnities.
Faster conviction to proceed or pivot—with a plan that actually creates value.
Reduced post-close surprises: compliance exposure, denial drag, and underpayment leakage addressed early.

Red Flags We Catch:

Accrual-cash gaps masked by aging or charge lag
Rate realization below benchmark despite “strong contracts”
High first-pass failures or appeal losses concentrated in a few payers/services
Edits off or work queues overwhelmed, creating silent write-offs
Supervision/scope or documentation deficiencies that won’t survive audit

Data We Request

837/835 extracts or equivalent, fee schedules, payer roster, denials/appeals logs, A/R aging, top codes by service line, and sample documentation. We’ll adapt to the target’s systems and pull only what’s material to the thesis.

Get a personal consultation.

Let’s chat about how we can work together.