HOW BUSINESSES CAN BUILD A COMPETITIVE ADVANTAGE WITH ITA.
The business of outpatient rehabilitation is estimated to be $34 billion industry with growth rates expected to continue in the coming years. According to MedPAC, Medicare spent $8 billion on outpatient therapy services in 2017 -- a 6 percent increase from 2016 spending. While many factors support continued growth in our industry including an aging population, earlier discharges from hospitals, use of telehealth/teletherapy and a broader focus on value versus volume-based services, the evolving impact of the COVID-19 pandemic combined with expected cuts to Medicare reimbursement make it difficult for therapy clinic owners to plan for their patient care needs and their business growth.
Migrate to an Independent Contract Workforce
Whatever the size of your therapy clinic or practice, there are distinct advantages to choosing Independent Contractors to meet your patient care needs.
When using independent contractors, a business can balance the ebb and flow of patient referrals without the risk of losing or laying off an employee.
Access to Specialized Skill >
When you work with independent contractors that have specialized training or certification, you can meet referral and patient needs on demand which is valuable in the short term to the patient and referral source and, long term, to determine if this is an area that your business can expand and/or specialize in.
Cost Savings >
While Independent Contractors typically receive a higher per-hour rate than an employee, Independent Contractors actually cost a business less. Why? Because you do not have to pay benefits such as vacation, holidays or taxes for your therapist.
Reduced Burn-Out >
Independent Contractors often work in multiple practice settings and for multiple companies which adds variety and flexibility to the therapist’s work. This reduces risk for burn-out and keeps your team at their best for patient care.
Scaled Growth >
Working with independent contractors lets your business grow and contract without the legal risk and expense of interviewing, hiring, training and maintaining new employees.