// PRIVATE EQUITY

Find the money
before you sign
the LOI.

CAPE runs complete Phase 0–7 adjudication on 12 months of 837P claims before close. Surface payer underpayments, quantify EBITDA variance, and package receivables with mathematical precision.

Run a QoE Audit →
$ cape run --mode=acquisition-qoe
Practice: Southeast Gastro Group · 80 providers
Period: 2024-01-01 → 2024-12-31
Claims: 148,470 · Loading...
Running Phase 0–7... ✓ complete in 4,287ms
VARIANCE REPORT
billed_charges $42,918,400
payer_paid_eob $29,411,800
cape_true_allowed $31,140,370
variance_delta +$1.72M ↑ EBITDA +5.9%
ENTERPRISE VALUATION SHIFT
+$17.3M – $20.7M@ 10–12× EBITDA
TOP VARIANCE RULES
42 CFR §414.22(b)(5) +$894,410 RVU adj
42 CFR §414.26(c) +$512,030 GPCI
42 CFR §414.40(a)(2) +$322,130 Multiple proc

// VALUE

Why PE teams use CAPE.

01

Quality of Earnings

Mathematical QoE audits before LOI. CAPE adjudicates every claim in the acquisition target's history and identifies payment variances with exact CFR citations. Not an estimate — the same calculation CMS would perform.

02

Receivables Packaging

Package Part B AR for asset-backed finance. Each claim gets a mathematically derived expected value. Lenders underwrite against ground truth, not historical averages built on opaque EOB data.

03

Portfolio Monitoring

Ongoing payment accuracy tracking post-close. Know the moment a payer deviates from the CFR. Monthly variance reports against live CMS rules — for every practice in the portfolio.

// HOW IT WORKS

Three steps from 837P
to defensible QoE report.

1

Submit 12 months of 837P claims

Via our API or secure file transfer. We accept raw EDI 837P files or structured exports from any major RCM system.

2

CAPE runs full Phase 0–7 adjudication

50ms per claim. 247 CFR rules encoded as deterministic math. Every modifier, GPCI adjustment, and multiple-procedure reduction — calculated correctly.

3

Receive your variance report

EBITDA delta, claim-level breakdowns, and the exact CFR section behind every finding. Defensible in any M&A diligence or Medicare audit.

99.1%

ACCURACY WITHIN $0.10

Benchmarked against 500,000 historical Part B claims. Matched to actual 835 remittance within $0.10 — the same threshold CMS applies in PFS compliance reviews. Every finding is mathematically tied to a specific CFR section and rule ID.

Ready to run your acquisition audit?

We scope and deliver acquisition QoE reports within 72 hours of receiving your claims data.

Request a Demo →