Rayn Sleep Enterprises helps HMEs land lab business
ROSLYN HEIGHTS, N.Y. - Rayn Sleep Enterprises has joined The VGM Group and other companies eager to help providers and doctors open up sleep labs as a way to make money and offset reimbursement cuts.
"When we sat down to develop this business plan, I wanted something that was in its infancy, and that is were sleep is," said President Zeb Pirzada, who's also president and CEO of MedStar Surgical, a large DME company in College Point, N.Y.
Rayn offers a turnkey program that provides "everything it takes to open a successful sleep lab," added Vice President Mitch Yoel, who is also MetStar's director of sales and marketing. Among other things, the company offers leasing programs, sales and marketing expertise, management help and insurance varification. The company also employs a board-certified sleep physician who can interpret sleep studies.
Providers and physicians are free to pick and choose the services they need.
With the sleep market growing at about 18% a year, and a shortage of existing labs, Rayn execs see great promise in their business plan, which will be officially unveiled at Medtrade.
Earlier this year, VGM started up a similar program for exactly the same reason: to help providers diversify their business mix. Like VGM, Rayn plans to be selective with who it does business with.
"We want to make sure there is going to be a viable patient load because at the end of the day our reputation is going to be on the line," Pirzada said. "We want to know how that DME will support the lab. Can they say, 'I have sales people who go to every pulmonary doctor there is. We have relationships, and yes, I can fill this lab."'
Pirzada declined to say how much Rayn charges to set up a lab, but called the company's pricing "competitive."