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Companies in this industry provide physical therapy and other treatment and activities to help patients regain or improve mental or physical functionality following an injury or illness. Major companies include Physiotherapy Associates, RehabCare Group, Select Medical, CommCare Corporation, and US Physical Therapy (all based in the US), along with La Nostra Famiglia (Italy) and St Joseph's Care Group (Canada).
Globally, there are more than 350,000 physical therapists and about 420,000 occupational therapists, according to the World Confederation for Physical Therapy (WCPT) and the World Federation of Occupational Therapists (WFOT). North America and Europe are the primary markets for the industry, but demand is high in regions such as Africa where access to health care is limited.
The rehabilitation therapy industry in the US consists of about 35,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $26 billion.
Demand is driven by demographics 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 health care providers and delivering superior customer service. The US industry is highly fragmented: the top 50 companies account for about 25% of revenue.
Therapy practices compete with similar services provided by hospitals, physician offices, nursing homes, home health ...
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