Bend and break: Volatile revenue from private insurance has hurt industry growth

The Physical Therapists industry includes physicians that offer rehabilitation services to patients with injuries, musculoskeletal diseases or any other conditions that result in physical pain. Industry operators also offer services for individuals with disabilities including speech, language or hearing problems. In Florida, this industry has performed well over the past five years. Much of this growth has been supported by the state's aging population and increased funding for Medicare and Medicaid. Despite growth from these markets, the industry has contended with volatility over the past five years from patients paying with private health insurance. Moving forward, falling private health insurance enrollment is anticipated to hurt industry revenue growth...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Rising premiums and falling private insurance enrollment are expected to limit industry revenue growth
  • Florida’s large elderly population has supported demand for physical therapy
  • Private health insurance enrollment is projected to decline, hurting revenue growth
  • Industry Report - Starting a New Business Chapter

    In Florida, the Physical Therapists industry has moderate barriers to entry, which is illustrated by the state's large number of small operators. The capital costs of starting a physical therapy clinic are moderate, given the amount of necessary equipment, but not as high as the initial costs of most other outpatient care facilities. The largest barrier for the Florida industry is the high level of regulation. To operate in Florida, all physical therapists must pass the Florida Laws and Rules exam, administered by the Federation of State Boards of Physical Therapy. This exam grants physical therapists their physical therapy license from the Florida Board of Physical Therapy. Physical therapy also carries extensive education requirements before it can be practiced. The...purchase to read more.

    Additional Insights for the Physical Therapists in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Physical Therapists in Florida Industry are

  • Development of a symbiotic relationship with another industry
  • Having a good reputation
  • Ability to quickly adopt new technology
  • IBISWorld analysts also discuss how external factors such as Number of adults aged 65 and older and Number of employees in the Physical Therapists in Florida industry impact industry performance..

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    What's in this report

    What is the Physical Therapists in Florida Industry?

    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.

    Industry Products
  • Mental disorders
  • Diseases of the nervous system and sense organs
  • Diseases of the musculoskeletal system and connective tissues
  • Symptoms, signs and ill-defined conditions
  • Injury and poisoning
  • Industry Activities
  • Examining history and physical well-being of patients
  • Establishing a management plan
  • Incorporating the results of laboratory and imaging studies
  • Providing manual therapy, education and techniques
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of adults aged 65 and older
  • Number of employees
  • Federal funding for Medicare and Medicaid
  • Number of people with private health insurance in Florida
  • Per capita disposable income in Florida
  • Unemployment rate in Florida

  • Current Performance
  • Growing demand
  • Private insurance
  • Chart: Revenue Growth

  • Industry Outlook
  • A declining market
  • Profit
  • Table: Physical Therapists in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Physical Therapists in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Property, Casualty and Direct Insurance
  • Workers' Compensation & Other Insurance Funds
  • Primary Care Doctors
  • Specialist Doctors
  • Home Care Providers
  • Hospitals
  • Nursing Care Facilities
  • Consumers

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Diagnostic & Medical Laboratories
  • Generic Pharmaceutical Manufacturing
  • Glasses & Contact Lens Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Primary Care Doctors
  • Specialist Doctors

  • Products & Services
  • Diseases of the musculoskeletal system and connective tissues
  • Other
  • Symptoms, signs and ill-defined conditions
  • Injury and poisoning
  • Diseases of the nervous system and sense organs
  • Mental disorders
  • Chart: Physical Therapists in Florida Industry Products and Services Segmentation

  • Major Markets
  • Government payers
  • Other
  • Private insurance
  • Out-of-pocket payments
  • Chart: Major Market Segmentation for the Physical Therapists in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Physical Therapists in Florida

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Physical Therapists in Florida Industry

  • Kindred Healthcare LLC, Cleveland Clinic, Select Medical Holdings Corporation, Sunshine Physical Therapy, US Physical Therapy Inc.,
  • Table: Kindred Healthcare LLC - financial performance
  • Table: Cleveland Clinic - financial performance
  • Table: Select Medical Holdings Corporation - financial performance
  • Table: Sunshine Physical Therapy - financial performance
  • Table: US Physical Therapy Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Physical Therapists in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Physical Therapists in Florida Industry
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of people with private insurance in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Autonomous Practice
  • A physical therapy practice that is characterized by independent, self-determined professional judgment and action.
  • Incontinence
  • Involuntary urination or defecation.
  • Musculoskeletal
  • A term that refers to issues related to muscles and the skeleton.
  • Occupational Therapy
  • Therapy to help people participate in the things they want and need to do through the therapeutic use of everyday activities.
  • Orthopedic Therapy
  • Therapy to manage and treat disorders and injuries of the musculoskeletal system.
  • Stroke
  • A condition that occurs when the supply of blood to your brain is suddenly disrupted.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Physical Therapists in Florida can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
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    This report on Physical Therapists in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Physical Therapists in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Physical Therapists in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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