Over the five years to 2016, physical therapy's role in promoting health and wellness has increased, benefiting the industry. As the number of individuals aged 50 and older grew. Additionally, the federal government has required hospitals to lower their readmission rates to receive Medicare reimbursements. Consequently, many hospitals have expanded the role of physical therapists to include providing disease management, prescribing home exercise programs and creating a safe discharge plan, supporting industry revenue growth. Over the five years to 2021, industry revenue is forecast to grow as healthcare reform keeps demand for physical therapy high, particularly for promoting patients' health and wellness. Additionally, the industry will play a vital role in home health, as more of the senior population requires physical rehabilitation services to stay mobile and self-sufficient. However, Medicare reimbursement caps for physical therapy may constrain industry revenue growth in the future.
Operators in this industry include independent health practitioners primarily engaged in outpatient services. These services include administering medically prescribed rehabilitation for patients suffering from injuries or muscle, nerve, joint and bone disease; planning and administering educational, recreational and social activities designed to help patients or individuals with disabilities; and diagnosing and treating speech, language or hearing problems.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.