Limitless Potential with Less Risk
The growth of the aging Baby Boomer population has led to an increasing need for physical therapy. In fact, the demand is so great that the Bureau of Labor Statistics predicts that the employment of physical therapists in outpatient PT settings will experience 54% growth in the next year.
Outpatient rehab facilities represent a large majority of the market, generating annual revenues of $19 billion in the $29 billion industry. Currently, no single practice represents more than 5% of the market share. Smaller, independently owned clinics account for nearly 45% of all physical therapy practices.
However, the volatility of the health insurance landscape continues to make it difficult for practitioners to thrive. Declining reimbursement reduces practitioners’ ability to gain access to capital for expansion and staff development.
The stakes are high for private practices, going it alone. Competition is growing to include hospital groups expanding their services into imaging, diagnostics and physical therapy. Offering more comprehensive services to their patients leads to diminishing referrals to outside private PT practices.
Independent practitioners are facing a turning point. Struggle to expand their business with limited capital and resources – or join a larger, capitalized group of practices that can combine resources and benefit from the power of a stronger, diversified network.
By joining an alliance of successful practices, you can reap the rewards of economies of scale, support for regional expansion and the knowledge sharing of successful best practices across the network.
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