Physical Therapy Marketing

Physical Therapy Marketing

Physical Therapy Marketing

Growing the Physical Therapy Practice

With higher incidences of obesity, an aging population in the U.S., and the need to address pain management, more Americans turn to physical therapists to ease their recovery.

Outpatient rehabilitation clinics effectively meet consumers’ demand for more skilled physical therapists and thus growth in physical therapy rehabilitation centers is happening across the country.

During the COVID-19 pandemic, physical therapists and demand for physical therapy services took a nosedive, hurting both patients requiring physical rehabilitation services and the many smaller physical therapy clinics nationwide.

Telehealth was an option; however, many patients stayed away from this type of therapy, opting to attempt personal rehabilitation at home. Today, more than ½ of the U.S. physical therapy centers provide some form of telehealth and virtual care. This provides the center an opportunity to serve homebound individuals, particularly the elderly or those with disability.

Physical Therapy Market Landscape

In this fragmented market that includes both physical and occupational therapy, analysts estimate the U.S. industry forecast as $43 billion by 2025, a 6.2% compound annual growth rate. Pandemic totals saw industry revenues dipping to $30.4 billion in 2020 followed by growth to $34.2 billion in 2021.

Throughout the U.S. an estimated 42,300 clinics deliver physical therapy services, with about 417,000 people who serve the industry. Services include occupational therapy for injuries in the workplace, speech therapy, and audiology services. Estimates put the average annual receipts per clinic at $855,000. Net profit margins for these clinics reach around 14 percent.

Competition in Physical Therapy

The market landscape continues to unfold with the largest four physical therapy chains capturing $3 billion in combined revenue in 2021. These players include Select Medical, ATI Physical Therapy, U.S. Physical Therapy, and Athletico Physical Therapy.

While larger practices may control the industry, consolidation always occurs with private practice physical therapists joining with larger organizations. Among the top 50 companies, the private-equity groups or public operators own a 29 percent market share in the industry.

Growing the Physical Therapy Practice One Patient At A Time

As an exclusive physician network, Karma Health provides business solutions to physical therapy practices throughout the U.S. With a skilled cadre of experts in its network, Karma Health tackles business challenges with solutions. It brings technology experts, digital marketers, health finance, insurance, health bankers, lenders, and commercial real estate professionals to help define growth strategies. As your growth partner, Karma Health defines and delivers the plan to help you attract and engage more patients in your practice. Let Karma Health share more with you; we’re more than just medical marketing. Contact us today at 954-710-9100 and witness the power of effective healthcare marketing.

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