Understanding the Average Growth Percent of a Small Physical Therapy Industry

The physical therapy industry continues to flourish, driven by both rising demand and advancements in technology and healthcare. With a projected 17% growth in employment for physical therapists from 2021 to 2031, small physical therapy clinics are presented with significant expansion opportunities​​. Understanding the average growth percent of a small physical therapy business is critical to capitalize on these opportunities effectively. 

In this blog, we’ll explore the key factors influencing this growth and show how SPRYPT can help clinics navigate and thrive in this evolving landscape. But before we get to learn about the key factors, let’s try to understand the current employment trends. 

Current Employment Trends in Physical Therapy

The demand for physical therapists (PTs) has surged in recent years, and this trend is expected to continue. According to the U.S. Bureau of Labor Statistics (BLS), employment for PTs is projected to grow by 5.3%, which is a rate far higher than the average for all occupations​. This anticipated growth is largely driven by demographic changes, advances in treatment methods, and increased awareness of the benefits of physical therapy.

Key Employment Statistics:

• Over 15,400 new job openings for physical therapists each year​.
• Increasing demand for physical therapy assistants (PTAs), whose presence grew from 29.93 PTAs per 100,000 people in 2017 to 33.53 in 2021.

As more healthcare providers prioritize non-invasive treatments and rehabilitation over surgery, small clinics stand to benefit from this expansion by hiring skilled professionals to meet patient needs. To manage this growing demand effectively, clinics need comprehensive solutions to streamline their processes.

SPRYPT offers innovative solutions like real-time insurance verification, which helps clinics process patient information faster and more efficiently. This allows for smoother operations as your clinic grows. Click here to learn more about SPRYPT’s features.

Now, let’s understand the key factors that contribute to current employment trends. 

Key Factors Influencing the Growth Rate

Several external factors are driving the demand for physical therapy services, contributing to the industry's overall growth:

1. Aging Population

By 2034, older adults (65 years and older) will outnumber children in the U.S. for the first time. As older individuals often require treatment for age-related conditions, physical therapy becomes a vital service for helping them maintain mobility and manage chronic pain​.

• Statistics: The U.S. Census Bureau estimates that there will be 77 million older adults by 2034, a significant portion of whom will require physical therapy​.

2. Increase in Chronic Conditions

The rise of chronic conditions, such as arthritis, diabetes, and cardiovascular disease, has heightened the need for physical therapy services. According to the CDC, 41.9% of U.S. adults were classified as obese during 2017-2020. As a result, the demand for long-term physical therapy care has skyrocketed, and small clinics are well-positioned to address this growing need​.

3. Technological Advancements in Treatment

Advances in technology have revolutionized the delivery of physical therapy services. From AI-driven diagnostics to telehealth solutions, clinics that embrace these innovations can provide more effective and personalized care. SPRYPT offers state-of-the-art Home Exercise Programs (HEP), helping your clinic stand out and offering patients a superior level of care. 

4. Focus on Preventative Care

There’s an increasing focus on preventative healthcare, with both public and private insurers covering physical therapy as a preventive service. This trend supports long-term wellness and prevents injuries from worsening, providing small clinics with a steady stream of patients. By leveraging preventative care services, clinics can build relationships with patients over extended periods, increasing loyalty and satisfaction​.

For clinics looking to capitalize on these trends, SPRYPT offers a full suite of tools, including automated billing and denial management workflows, to ensure your clinic runs smoothly while reducing errors and improving claim approval rates. 

Now that we are aware of the key factors let us focus on the workforce growth insights!

Workforce Growth Insights

The number of physical therapists per 100,000 people in the United States has continued to increase, reaching approximately 72 per 100,000 in 2024. This marks a steady rise from 71.76 per 100,000 in 2021 and 64.52 in 2017. This growth demonstrates that more professionals are entering the field, ready to meet the growing demand for physical therapy services. With an expanded workforce, small clinics can offer more specialized treatments and serve a more extensive patient base.

Workforce Expansion:

• Educational Growth: The number of physical therapy programs has increased, providing more trained professionals to fill the rising demand for services.
• Specialization: Many therapists are pursuing additional certifications, increasing their earning potential and providing clinics with opportunities to diversify their services.

SPRYPT helps clinics manage to expand teams with tools like digital intake systems and smart charting, which significantly reduce administrative tasks and free up time for patient care. Learn more about streamlining your clinic’s management with SPRYPT!

Now that we have learned about workforce growth, it is important to understand the economic factors and wage analysis that are adding to the average growth percent of a small physical therapy business. 

Economic Factors and Wage Analysis

The financial outlook for physical therapists is bright, with steady wage growth across the country. In 2019, the median salary for physical therapists was $89,440, while PTAs earned around $58,790​.

Factors Influencing Wages:

• Regional Differences: Wages can vary significantly based on location, with urban areas generally offering higher salaries than rural regions. However, small clinics in less competitive regions can attract skilled professionals by offering attractive compensation packages and other benefits.
• Inflation and Cost of Living: Although inflation can impact salaries, physical therapy remains one of the more financially stable professions in healthcare, and wages have been steadily increasing​.

For small clinics, managing financial performance is essential. SPRYPT provides comprehensive billing analytics and financial reporting tools to help you optimize costs and increase profitability. See how SPRYPT can improve your clinic’s financial performance.

The impact of specialization and training has a huge role to play in the increased average growth percentage of a small physical therapy business. Let’s take a closer look at it. 

Impact of Specialization and Training

Specialization is becoming increasingly important in the physical therapy field. Clinics that invest in staff with specialized training in areas such as orthopedics, neurology, and sports medicine can offer higher-quality services that attract a broader patient base. Board-certified physical therapists can often earn 10-15% more than their non-certified peers.

Here are some points to make you understand why this specialization matters:

• Increased Earnings: Specialization allows physical therapists to command higher fees and brings in patients seeking advanced treatment options.
• Patient Satisfaction: Specialized services often result in better patient outcomes, which in turn boosts the reputation of the clinic.

SPRYPT helps clinics offer specialized services by providing tailored features, such as AI-based rehab treatment plans and configuring custom workflow, ensuring that your clinic remains at the cutting edge of patient care. Explore how SPRYPT supports specialized clinics.

Demographic and Cultural Influences

The physical therapy workforce is becoming more diverse, with 65% of PTs being women. Additionally, there is an increasing representation of racial and ethnic minorities within the profession, which enables clinics to cater to a broader and more diverse patient population.

Diversity and Inclusion in the Workforce:

• Gender Diversity: The growing presence of women in leadership positions within physical therapy reflects a positive shift in the industry. Women now represent a significant portion of physical therapists and practice owners.
• Ethnic and Racial Representation: As more minority professionals enter the field, clinics can offer services that are more culturally competent and better suited to diverse communities.

The physical therapy industry is experiencing robust growth, with a projected 17% increase in employment and rising demand for rehabilitation services. Small clinics are uniquely positioned to thrive in this environment, provided they adopt the right strategies for growth, including specialization, workforce expansion, and technological innovation.

Now that we've discussed the cultural shift allowing small clinics to serve a more diverse patient base, it's essential to recognize how SPRYPT has become a key support system for these clinics, empowering them to thrive in this evolving landscape. 

SPRYPT: The Essential Tool for Clinic Growth

With the physical therapy industry growing rapidly, it’s essential to have the right tools to manage the increasing demand and operational complexities. SPRYPT is designed to help small clinics streamline their operations, reduce errors, and enhance patient care.

Key Features of SPRYPT:

Here are some key features of SPRYPT to help you with your small clinic management:

• Real-time insurance verification to minimize delays and ensure smooth patient processing.
• Smart charting and digital intake to reduce documentation time by 30%, allowing more focus on patient care.
• AI-powered Home Exercise Programs (HEP) to offer advanced treatment plans and improve patient outcomes.
• Billing analytics and denial management workflows to increase claim approval rates to over 98%​.

Is your clinic equipped to handle the growing demand for physical therapy services? Contact SPRYPT today to explore how our integrated platform can transform your clinic.