Physical Therapy Business is Booming

A recent story on (Lehigh Valley Business) focused on the burgeoning physical therapy field in Pennsylvania (and elsewhere). Between the needs of active baby boomers getting new joints, chemotherapy recipients needing to stay in good condition, and young athletes giving themselves concussions, the need for qualified, quality PT is outstripping availability in some areas.

This is one of the factors that spurred Select Medical Corp. to buy Physiotherapy Associates, both based in Pennsylvania. The resulting behemoth is now roughly double in size with 1,608 clinics in 37 states.

An additional industry game changer is, the change in Medicare regulations affecting outpatients. The article explains that “The competition to grab more of the outpatient physical therapy market is heating up…The hospitals see the value in owning [the physical therapy practices] and keeping it in-house and containing costs.”

Even with these challenges, there are still more patients than needed practitioners. “The patient demand is creating greater competition to fill physical therapist positions.”

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