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Will big physical therapy companies wipe out private practices?

I work at a physical therapy clinic that has multiple locations. I was talking about owning my own practice when I get out of school. The feedback I received from them is basically saying that there was no point because the big companies are going to back all the private practices go out of business. What are your thoughts? #privatepractice #physicaltherapy

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Katrina’s Answer

I contract for a private practice PT clinic that provides mobile and in office treatments. There is a need for independent clinics and the unique features and training they have to offer our communities. We’ve had a number of patients who have had previous experiences with large organization clinics who refuse to go back.
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Emma’s Answer

Big physical therapy companies may pose competitive challenges to private practices, but the complete wipeout of private practices is unlikely. Both types of facilities serve different needs within the healthcare landscape. Large physical therapy companies, often backed by substantial resources, can aggressively expand and compete with a broader range of services, potentially drawing in a significant portion of the market. They may have the advantage of scale, which allows for more extensive marketing campaigns and favorable contracts with insurance providers.

On the other hand, private practices often specialize in niche areas and provide a more personalized and patient-centered approach. They have the advantage of deep community ties and longstanding relationships with referring physicians. Many patients prefer the familiarity, trust, and individualized care provided by private practices. Additionally, private practices can be more agile and innovative in adapting to industry changes and patient preferences. Therefore, while large companies can impact private practices, the survival and success of private practices depend on their ability to leverage their unique strengths, maintain their community presence, and continue providing excellent patient care in their specialized areas of expertise.
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Christine’s Answer

I currently work as a physical therapist in a skilled nursing facility and have seen that larger companies are buying snfs and home health agencies. It seems as though they are more successful than private ownership.
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