Physical Therapy

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 from injuries in the workplace, speech therapy, and audiology services. Estimates put 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 the 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.

What Clients Say About Karma Health

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Jeffrey Steinberg, MD
Headache and Pain Center

Karma Health has steadily grown my neurology practice since we began our partnership. They are responsive to my vision. I am extremely fortunate to have found this team, as they are far superior to others I’ve used in the past.

drjeffsteinberg.com

5/5
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Susan B. Fox, DO, RPVI, FSVM
Fox Vein & Laser Experts

My vein treatment specialty practice expanded 300% since my affiliation with Karma Health. We’re entirely focused on patient engagement so growth continues successfully. I appreciate the team’s solutions that align with my business goals.

foxveinexperts.com

5/5
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Cesar E. Ceballos, MD, FAAOS OrthoMiami

Since we began our relationship, Karma Health has been tuned into the business and growth goals of our orthopedic practice. We’re excited about what’s happening and what’s to come with more solutions to invite more patients into our practice.

orthomiami.com

5/5
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James Marinucci, CEO
Alleanza Group

Working with Karma Health is a breath of fresh air. They are exactly what my company needed to create a professional and sophisticated corporate brand while improving how we present services on a global scale.

alleanza.us

 

5/5

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