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Rehabilitation Therapy Practices
First Research, Sep 2009, Pages: 10
First Research is the leading industry intelligence company that helps sales teams perform faster and smarter, open doors, and close more deals. First Research performs the 'heavy lifting' by synthesizing hundreds of sources into an easy to digest format that a sales person can consume very quickly to better understand a prospect's business issues.
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The rehabilitation therapy industry in the US consists of about 20,000 practices with combined annual revenue of about $11 billion. Major companies include Select Medical, HealthSouth, Physiotherapy Associates, RehabCare Group, and US Physical Therapy. The industry is highly fragmented: the top 50 companies account for less than 25 percent of revenue.
COMPETITIVE LANDSCAPE
Demand is driven by the aging US population and medical advances that increase patient survival rates and prolong life. The profitability of individual practices depends on efficient use of personnel. Large companies have some economies of scale in financial and administrative systems, but the typical practice has fewer than 10 employees. Small companies compete by developing positive relationships with local healthcare providers and delivering superior customer service. The industry is highly labor-intensive: average revenue per employee is about $70,000.
Therapy practices compete with similar services provided by hospitals, physician offices, nursing homes, home healthcare services, chiropractors, and educational institutions that employ their own therapists.
PRODUCTS, OPERATIONS & TECHNOLOGY
Rehabilitation therapy practices treat patients suffering from physical, mental, emotional, or communication disabilities. Services are primarily provided by physical therapists (60 percent of therapists); occupational therapists (20 percent); and speech therapists (15 percent). Other services are provided by audiologists, and art, dance, or music therapists. Fees for patient services make up over 90 percent of industry revenues; other revenues include lab test fees and sales of medical equipment and supplies, such as ...
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