The sleep lab chain cites tougher insurance environment that cut into revenue, reports the Orlando Sentinel.
Total Sleep Management once had 13 locations in Central and Southwest Florida. They’ve now retreated to six locations in the Orlando market.
“The sleep industry ran into trouble around 2013,” said Emery Arthur, a manager with the company. “Pre-authorizations became a requirement for most private insurers. We lost about 40 percent of our revenue.”