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Rehabilitation Therapy Services
First Research, April 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The rehabilitation therapy industry in the US consists of about 30,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $20 billion. Major companies include Select Medical, 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. Small companies compete by developing positive relationships with local healthcare providers and delivering superior customer service. The industry is labor-intensive: average annual revenue per employee is about $75,000.
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 (45 percent of therapists); occupational therapists (25 percent); and speech therapists (20 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 orthopedic appliances.
Physical therapists provide services that restore function, alleviate pain,...
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