Competing in Outpatient Therapy
According to some estimates, the outpatient rehabilitation market totals around $19 billion, nearly 92% of which is earned by independent providers caring for patients in their local communities or regions. These small to medium practices account for nearly 87% of the approximately 16,000 outpatient rehab clinics in the U.S. The remaining 13% are operated by the three “market leaders” who, together, claim approximately 2,100 locations.
Therefore, in most regions, there are at least a few other practices with which you must compete. With so many options for outpatient physical therapy, occupational therapy, and/or speech-language pathology, providers need an edge, which they can gain by maintaining:
- Full schedules
- Smart referral and authorization tracking
- Efficient documentation processes
- Complete plan-of-care management
- Thorough and accurate charge capture and billing
- Prioritized task management
- Detailed data management