It is a fact the US economy in 2012 is not doing well as our politicians would like us to believe. Unemployment rate is on the rise, overdue mortgages are increasing, nearly half of American families spend more than what they earn. The list is long and the facts are frightening. What are the prospects of the physical therapy business then in this new economy?
Physical therapy business will continue to thrive even with the economic slowdown. One of the major factors is emphasis placed on community healthcare. As the population ages and becomes less healthy, the demand for health care professionals including physical therapists will increase. It is fact that the expertise of physical therapists can help the elderly maintain their bodily function to stay healthy.
The Disabilities Education Act of 2004 also helps the physical therapy business stay afloat. Because of this act, children with disabilities have free access to various kinds of rehabilitation services such as physical and occupational therapy.
Direct access in most states also gave the physical therapy business a boost. Physical therapy patients can directly visit a physical therapist without needing to get a referral from a medical doctor.
Accidents cannot be avoided and physical therapy is a key element in rehabilitation. Unfortunate as it may seem, accidents makes the physical therapy business thrive.
Physical therapy business owners also face challenges and threats to their survival. One of these challenges is the mergers of hospitals with other physical therapy private practices to contain costs and for expansion of services being offered.
Even so, the law of supply and demand in the physical therapy business will ensure a positive outlook for private practitioners. There are more adults staying active in their senior years who require physical therapy services to maintain their quality of life.
Bleak as it may seem, the impact of the new economy to the physical therapy business is minimal and does not pose a threat to its survival. The demand for more physical therapy services will outweigh the adverse economic situation. Physical therapy services will always be needed during rehabilitation. Medical and technological advances made it possible for trauma victims to survive which results to more rehab care. Chronic diseases have also increased and sufferers like diabetics will need physical therapy to manage the ill effects of these diseases.
Some might say that the physical therapy business prospers in the misfortune for others. On the contrary, physical therapy helps victims and patients recover and restore them to health and wellness.