CareCentrix Benefit Management Firm(Private Equity Partner of Water Street Healthcare) Buys Sleep Management Solutions To Enfor
Posted Jan 12 2011 1:25am
CareCentrix is partnered with Private Equity firm Water Street Healthcare Partners so we are for profit here. In December of 2010 they made this announcement with CareCentrix. Water Street states their investment capital comes from limited partners which include Goldman Sachs, New York Life for a couple examples, so here comes some big bank money along the line and their program to keep oncology costs down for one.
Sleep Management as they state on their website, they are there to “protect the payer” and you can read below.
From the website of Sleep Management:
“Sleep Management Solutions (SMS) offers an expertise in sleep diagnostics and therapeutics positioned to "protect" the payer. Our commitment is to work on behalf of the payer to establish the most cost-effective and clinically-effective delivery model for sleep medicine. Our model is a "low to no" risk venture for all payers and will work in helping your organization control the current trend in the field of Sleep Medicine”.
I wonder if companies realize that consumers read their material too? When I read this page boy it certainly sounds like the “patient” is the bad guy here with the wording used and if the patient does not use their device they are going to tell on them. Again, it’s just the wording here and after reading this who in the world wants to be diagnosed with sleep apnea! Here’s another paragraph and you can read for yourself. I though all of this stuff was supposed to be a partnership to motivate patients and providers.
“We also believe that in today’s model there is a lack of fiduciary responsibility on behalf of the provider community to "mandate" usage. There is an epidemic in today’s model of patient’s not using their PAP devices but yet the payer continues to or has completely paid for the device. With iComply, if a patient is not using their PAP device, the payer and/or employer will not pay for that device. “
CareCentrix, Hartford, Conn., a benefits management firm, has acquired Sleep Management Solutions, a provider of sleep-disorder testing technology for the home. Terms of the transaction were not disclosed.