What Can Physical Therapists Do about Declining Reimbursements?
This question came from a practice owner: What can PTs do about declining reimbursements?
Costs are going up for private practice owners. Meanwhile, reimbursement rates relative to inflation are going down. Compared to 20 years ago, we’re paying more for staff salaries, operating space, supplies, and all the other costs of doing business.
If you look at all 50 states, the average reimbursement has only gone up about 29% in the last two decades, yet operating costs have climbed much higher than this.
Combine that with the fact that there is an 8% cut for Medicare coming in 2021 and it’s clear that declining reimbursements are a big problem for PT.
A lot of private practice owners are facing this issue, but they’re reaching the wrong conclusion. Here’s what we should be doing instead.
No One Is Going to Save Us
Many PTs think that the government or healthcare associations are responsible for fixing this issue. They believe that the government will pass…
This is only a snippet of a Physical Therapy Fitness Article written by Chad
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