Is the physical therapy industry growing?
The U.S. physical therapy services market size was estimated at USD 44.8 billion in 2022 and is expected to reach USD 45.9 billion in 2023.
The U.S. occupational & physical therapy services market size was valued at USD 47.50 billion in 2021 and is projected to grow from USD 50.26 billion in 2022 to USD 72.70 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period.
According to the US Bureau of Labor Statistics, PT employment is expected to grow by 17% through 2031. The industry is slated to add more than 40,000 new professionals in the coming years to join the current 238,800 US physical therapists.
With the growing demand for qualified professionals, enhanced ability to provide care faster, and an ever-growing list of patients that need therapy — the physical Therapy industry and its employers are seeing nationwide expansion. Results Physiotherapy is growing rapidly with new clinics opening nearly every week.
"Based on current graduation, licensing, and attrition trends, the model predicts an estimated surplus of 25,235 physical therapists by 2030.
"Physical therapy is a real safe, happy approach," he says. "It offers a meaningful and positive alternative to pharmaceuticals or surgery." The Bureau of Labor Statistics projects 16.9% employment growth for physical therapists between 2021 and 2031. In that period, an estimated 40,400 jobs should open up.
|Rank||State||Employment per thousand jobs|
You feel it is inevitable-but there may be another way to get relief from your painful injury without going under the knife. Physical Therapy. In fact, one study suggests physical therapy is a better option than surgery with less risk and more significant lasting results.
They teach patients how to prevent and/or manage a physical condition to achieve long-term health benefits. They examine each patient and then develop a treatment plan. They use scientifically proven techniques to promote mobility and restore function while reducing pain and preventing long-term disability.
Physical therapy is typically regarded as the more challenging option for the education level required to begin a career in these two fields.
Why is there a shortage of physical therapists?
Reasons for the Physical Therapist Shortage
One of the main reasons is the COVID-19 Pandemic, which has caused large amounts of stress and fear for healthcare professionals industry-wide.
Based on their distinctive knowledge and training, physical therapists provide a unique perspective on purposeful, precise, and efficient movement across the lifespan and use movement-related interventions to optimize functional capacity and performance.
But as Heidi Jannenga, PT, DPT, ATC/L, the president and co-founder of WebPT, explains here, “approximately 20% of PT patients drop out of treatment within the first three visits, and 70% fail to complete their full course of care.” If that number frustrates you—and it should—know that you're not alone.
Physical and occupational therapists
Most healthcare-related jobs are recession-proof because the economy doesn't have a strong impact on people's need for medical care.
Employment of physical therapists is projected to grow 17 percent from 2021 to 2031, much faster than the average for all occupations. About 15,400 openings for physical therapists are projected each year, on average, over the decade.
- Pediatric Physical Therapist. Salary range: $77,000-$128,500 per year. ...
- Rehabilitation Therapy Aide. ...
- Per Diem Physical Therapist. ...
- Travel Physical Therapist. ...
- Correctional Facility Physical Therapist. ...
- PRN Physical Therapist. ...
- Registered Physical Therapist. ...
- Acute Care Physical Therapist.
The most challenging part of being a therapist is treating the whole individual and each individual is different. Many people have other health conditions, physical limitations or cognitive challenges that can affect the way their case is managed. In other words, you don't just treat a specific body part or diagnosis.
Overall employment of psychologists is projected to grow 6 percent from 2021 to 2031, about as fast as the average for all occupations. About 14,100 openings for psychologists are projected each year, on average, over the decade.
Moving states and finding a new physical therapist job in that state can help you make more money. The states with the highest average salaries for physical therapists are: Nevada. California.
Physical therapists earn an average yearly salary of $101,180. Wages typically start from $50,230 and go up to $135,570.
Is becoming a PT difficult?
It is fairly hard to become a physical therapist.
It requires getting accepted to a highly competitive physical therapy program and years of advanced schooling. To work as a physical therapist, for instance, means completing a Doctor of Physical Therapy (DPT) program.
The bottom line is that it is never too late to treat your injuries with physical therapy.
When performed by a licensed physical therapist, physical therapy should not hurt. But it can be challenging. You will have to work, and you will feel discomfort and soreness during and after each session. Don't let this discourage you.
The main difference between a physical therapist and a doctor of physical therapy is that the latter has a doctorate. However, both have extensive knowledge of the human body and its movement. They train and use what they have learned to help people improve their movement and function.
On average, physical therapists rate the meaningfulness of their work a 3.5/5. Unlike many careers, physical therapists have little difficulty finding meaning in their work, and it likely constitutes one of the main reasons people become physical therapists.
Physical therapy is a field that involves a lot of math. For example, physical therapists use math to calculate the range of motion in a patient's joints and determine the optimal angle for movement. This helps them create treatment plans that are tailored to the specific needs of each patient.
A physical therapist conducts her evaluations, treats her patients, documents all treatments (often written documentation can take 20-30% of the work day) attends inservices, which are educational training sessions for physical therapists by in-house and outside experts, and participates in interdisciplinary meetings.
A typical day for a therapist involves working on paperwork, answering emails and phone calls, and seeing patients. Depending on the type of therapist, their days begin very similarily, but can greatly differ when it comes to patient care. Seeing patients can differ greatly depending on your specialty.
When it comes to delivering direct patient care, physical therapists play a major role in the hospice care team, providing such key services as: Pain management and relief. Positioning to prevent pressure sores, lessen pain, prevent contractures, and help with breathing and digestion.
- Pathophysiology. In this course, students learn how different anatomical systems work and how diseases or injuries affect these systems. ...
- Pharmacology. ...
- Medical Surgical 1 (also known as Adult Health 1) ...
- Evidence-Based Practice.
What is the hardest type of nurse to be?
- Intensive Care Unit (ICU) nurses. ICU is an extremely high-pressure environment and these nurses work with patients who have significant injuries and disease with added morbidity risks. ...
- Emergency Department nurses. ...
- Neonatal ICU. ...
- OR nursing. ...
- Oncology Nursing. ...
- Psychiatric Nursing.
- Oncology. There's no surprise that this specialty is near the top of the list. ...
- Hospice. ...
- Medical-Surgical. ...
- Geriatric Care. ...
- Emergency Room. ...
- Psychiatry. ...
- Correctional Nursing.
Significant Physical Demands
As a PT, you can be required to lift patients out of their beds and help support them as they walk or perform floor exercises during their treatment. Therapists are on their feet throughout the treatment phase, guiding the patient to achieve their physical health objectives.
Already, more than 150 million people live in federally designated mental health professional shortage areas. Within a few years, the country will be short between 14,280 and 31,109 psychiatrists , and psychologists, social workers, and others will be overextended as well, experts say.
Questions Clients Ask About This Industry
There are 575,909 people employed in the Physical Therapists industry in the US as of 2023.
Physical therapists work with people who have experienced an injury or disease that has affected their movement and range of motion. A physical therapist will examine a patient then create a recovery plan. They often focus on treatments that reduce the need for surgery and prescriptive drugs.
Physical therapist practice is guided by a set of seven core values: accountability, altruism, compassion/caring, excellence, integrity, profes- sional duty, and social responsibility. Throughout the document the primary core values that support specific principles are indicated in parentheses.
Advantages of Physical Therapy
Physical therapy aims to find the root of your pain problems and fix them. Unlike pain medications that simply mask the pain temporarily, physical therapists are trained to provide guided exercise regimens that can help reduce and eliminate many different pain problems.
What Is The Average Age Of A Physical Therapist? The average age of physical therapists is 40 years old. In some estimates, the age is slightly older, between 41 and 45.
Data published by the American Physical Therapy Association revealed that most physical therapy patients are aged over 65. Below is a breakdown by age group: 36.1% over 65 years old. 25% between 20 and 64 years old.
Do physical therapists get burnout?
So far, we've given you the bad news: physical therapist burnout is a real problem that negatively impacts your clinic, your staff, and, most importantly, your patients.
- Tourism jobs. Tourism and hospitality roles are vulnerable during a recession because consumers change spending habits as the economy shrinks. ...
- 2. Entertainment. ...
- Human resources. ...
- Real estate. ...
- Real estate.
- Leisure and hospitality.
Depressive symptoms have been identified as an influential risk factor for problematic response to physical therapy.
Starting Physical Therapy School In Your 30's And 40's
While the average age of physical therapy student is about 25, there are plenty who are in their mid-thirties and on up into their forties. It isn't too late to start school past your twenties. The time frame for becoming a physical therapist is only seven years.
With an average 10,000 new Physical Therapists graduating from PT programs across the country each year, the PT job market becomes a little more competitive each year.
|Growth rate||CAGR of 3.56% from 2023 to 2030|
|The base year for estimation||2022|
|Historical data||2018 - 2021|
|Forecast period||2023 - 2030|
As a result, the potential for discontinuous change in healthcare has increased. Our analysis finds that national health expenditure could grow at a rate of 7.1 percent over the next five years from 2022 to 2027, compared with an expected economic growth rate of 4.7 percent.
To answer the question of how much can a physical therapist in the private practice make? Here are the possible figures: A successful private practice can generate between $250,000 and $2,500,000 annually in gross revenue. The take-home profit can be anywhere between 20% to 30% of the total amount of gross revenue.
The career outlook for physical therapists and occupational therapists is bright. According to the U.S. Bureau of Labor Statistics, the need for physical therapists is projected to grow by 21% before 2030, which is much faster than the 8% average growth rate across all U.S. occupations.
Who makes the most money in physical therapy?
- Outpatient care centers.
- Home health care services.
- Child day care services.
- Local government.
- Nursing care facilities.
|Industry||Annual Mean Salary|
|Home Health Care Services||$105,510|
|Child Day Care Services||$102,050|
|Local Government, excluding schools and hospitals||$101,290|
|Nursing Care Facilities (Skilled Nursing Facilities)||$100,760|
|Hourly Wage||$ 32.65||$ 38.80|
|Annual Wage (2)||$ 67,910||$ 80,700|
- Nurse Practitioners (NP) Job outlook: 52% increase from 2020-2030 (BLS) ...
- Physical Therapist Assistant (PTA) Job outlook: 35% increase from 2020-2030 (BLS) ...
- Medical and Health Service Managers. Job outlook: 32% increase from 2020-2030 (BLS) ...
- Medical Assistants.
The High Cost of Health Care
The problem: Perhaps the most pressing issue in health care currently is the high cost of care. More than 45% of American adults say it's difficult to afford health care, according to a survey by the Kaiser Family Foundation, and more than 40% have medical debt.
A commanding 91% of respondents expect to maintain or increase their revenue and sales this year, and 87% expect to maintain or increase profits—even as 58% expect a recession in 2023. The survey also reflects the consumer-driven transformation happening in healthcare.
As a physical therapy practice owner, you take home a yearly base salary plus a percentage of revenue, or “profit.” Successfully run private practices can generate between $250,000 and $2,500,000 per year in gross revenue.
Every time you work with a patient, you will be responsible for completing a ton of documentation. This added workload can be very stressful, time-consuming and is one of the cons of being a physical therapist.
Estimates of the size of the United States physical therapy market range up to $34 billion, with growth rates in the coming years projected to be in the mid-single digits.  According to MedPAC, Medicare spent $8 billion on outpatient therapy services in 2017, which represents a 6 percent increase from 2016 spending.
- Physical Therapy Can Help You Recover From a Traumatic Event. ...
- Physical Therapy Can Lower Your Risk of Aggravating Your Injury. ...
- Physical Therapy Can Improve Mobility and Balance. ...
- Physical Therapy Can Reduce Chronic Pain. ...
- Physical Therapy Can Help Improve Athletic Performance.