Sleep HealthCenters was a for-profit chain of sleep clinics, based in Boston, MA. They provided sleep disorder and treatment centers at their 19 locations throughout New England and Arizona. Sleep HealthCenters addressed medical illnesses such as obstructive sleep apnea, chronic insomnia, restless legs syndrome and narcolepsy. During full operation, Sleep HealthCenters saw $200 million in annual revenue.
Winter Harbor was engaged by Sleep HealthCenters to act as Financial Advisor and oversee their wind down process. In addition, our professionals:
Monitored patient care and ensured the HIPAA privacy rules were upheld for over 33,000 patients.
Answered patient inquiries and assisted with patient request.
Conducted quality assurance tests to ensure quality of patient care.
Due to several factors, Sleep HealthCenters was forced to terminate operations and close all sleepcare facilities. Over the past years, healthcare systems and insurance policies did not recognize CPT codes for outpatient consultations, and would decline reimbursements for polymnographies by patients, restricting patients from getting the medical attention they required. Additionally, associated costs with center sleep testing increased, again limited the number of patients that could afford proper care. Winter Harbor professionals recognized these factors, and assisted Sleep HealthCenter with their wind down process. Assets of the Company were sold and operations were resumed by a new healthcare entity.