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Home > Healthcare > Medical > Facilities
Rehabilitation Therapy Practices
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| Published Date:
August 2008
Published By:
First Research, Inc.
Page Count:
10
Order Code:
R3470-1715
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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, Benchmark Medical, and US Physical Therapy. The industry is highly fragmented: no company has more than 5 percent market share and the top 50 companies have less than 25 percent.
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 less than ten 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 only 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 ...
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