FRANKLIN, TN – Sleep Nation Inc, a corporation that bills itself as a “a national provider of CPAP supplies,” announced last week that it has signed contracts with CMS to be reimbursed for all competitive bid markets in the United States.
According to a company press release, CPAP Care Club LLC, a wholly owned subsidiary of Sleep Nation, received bids in all 100 markets for CPAP equipment. The contracts affect nearly 50% of the approximately 49 million people enrolled in Medicare and will become effective on July 1, 2013.
“This is a significant milestone for our company,” said Richardson M. Roberts , CEO of Sleep Nation. “This not only allows us to continue to serve thousands of existing Medicare beneficiary patients who use our equipment but gives us access to an entire population of patients who will be searching for a new supplier. This establishes us as one of a small number of CPAP supply companies who can serve every Medicare patient nationwide.
“Industry experts predict that numerous CPAP supply companies will go out of business due to their inability to continue to receive reimbursement from Medicare so we have a unique opportunity to grow market share rapidly and to become one of the fastest growing providers in the CPAP industry,” continued Roberts. “We’ve assembled an impressive team of health care executives, we are well financed and our goal is to scale the company to meet increased demand while providing great patient care.”