For PE & Investors

Before you close, know if the revenue is real.

EHR-level due diligence analytics for private equity firms acquiring medical practices — built from actual encounter data, not management summaries, delivered in 5 to 10 business days.

Healthcare Due Diligence Analytics from Harine Management is a pre-close data analysis service for private equity firms and healthcare investors that extracts and analyzes EHR encounter and billing data from target medical practices — validating revenue integrity, quantifying provider concentration risk, assessing payer mix quality, and delivering a structured analytical report in 5 to 10 business days that is ready for data rooms and investment committee review.

5–10 days
From data access grant to final deliverable
EHR-level
Data sourcing — encounter records, not management financials
IC-ready
Report format built for investment committee presentations

The problem

Management-provided financials in a healthcare M&A process show you what leadership wants you to see. They don't show you the physician whose retirement timeline isn't in the data room, the payer mix shift that will compress margins in year one of ownership, or the AR aging that management has been managing with aggressive collection tactics that won't survive new ownership. The gap between what a practice reports and what its EHR encounter data actually shows is where deal risk lives — and standard financial due diligence doesn't reach it.

What we build

Harine Management extracts and analyzes EHR-level data from the target practice — not management summaries, not adjusted financials — and produces a structured due diligence report covering revenue integrity, provider concentration risk, payer mix trajectory, and operational benchmarking against specialty peers. The output is formatted for data rooms and investment committee presentations and delivered in 5 to 10 business days from the date data access is granted.

What you get

Common questions

How long does healthcare due diligence analytics take?
A standard Harine Management healthcare due diligence analytics engagement is delivered within 5 to 10 business days from the date data access is granted to the target practice's EHR and billing systems; for time-sensitive situations — LOI expirations, accelerated closing timelines, or competitive bid processes — expedited engagements with 48 to 72-hour turnarounds are available, with availability confirmed at engagement kickoff.
What EHR systems do you work with?
Harine Management's due diligence analytics engagements are EHR-agnostic — analysis has been conducted on practices running Athenahealth, eClinicalWorks, Epic, Kareo, Greenway Health, and other platforms; the primary requirement is that the EHR support structured data export, which all major ambulatory platforms do, and the specific extraction approach is confirmed during engagement scoping based on the target practice's system.
What data does the client need to provide?
The acquiring firm provides Harine Management with authorization to access the target practice's EHR through the seller's cooperation under NDA; the data required includes 36 months of encounter-level CPT data with provider identifiers, 24 months of billing system claim data with adjudication status, an AR aging export, and a provider roster with employment agreement summaries — all of which are extractable from standard EHR and billing system exports with seller authorization.
How is this different from a standard financial audit?
A standard financial audit or quality of earnings report analyzes management-provided financial statements — P&Ls, tax returns, and billing summaries — to verify earnings accuracy; Harine Management's EHR-level due diligence analyzes the raw encounter and billing data that produced those financials, surfacing provider revenue concentration, payer mix trajectory, denial rate patterns, and operational risks that do not appear in financial statements and are structurally invisible to a standard financial audit.

Ready to see what your EHR data can do?

Every engagement starts with a 30-minute discovery call. No commitments — just a clear look at what's possible with your data.

Schedule a Discovery Call