A Brief History of U.S. Physical Therapy, Inc. (USPH)

Foundation and Early Years

U.S. Physical Therapy, Inc. (USPH) was founded in 1990 by Richard B. Lieberman and a group of investors in Houston, Texas. The company started its journey as a provider of physical therapy and rehabilitation services, focusing on outpatient clinics across the United States.

Growth and Expansion

In its early years, USPH grew steadily. By the mid-1990s, the company had expanded its operations significantly. As of 1995, USPH had reached a total of 25 clinics, showcasing its growth potential in the fragmented healthcare market.

Public Offering and Financial Milestones

U.S. Physical Therapy went public in 1997, trading on the NASDAQ under the ticker symbol USPH. The initial public offering raised approximately $8 million. The company used these funds to further expand its clinic network.

Acquisitions

In the 2000s, USPH began to acquire independent physical therapy practices. Notable acquisitions include:

• In 2006, USPH acquired 55 clinics, solidifying its position in the regional market.
• In 2014, it expanded further by acquiring 31 clinics from a competitor, boosting its footprint in critical states.

Financial Performance

As of 2022, USPH reported total revenues of $264 million. The net income for the same period was approximately $20 million, reflecting a growth of 4.5% in revenues compared to 2021.

Market Position

USPH operates more than 600 clinics across 40 states. It ranks among the leading providers of outpatient physical therapy services in the United States.

Recent Developments

In 2023, USPH continued to focus on growth through strategic acquisitions and partnerships, reporting an acquisition of 15 clinics in key markets within the first half of the year.

Future Outlook

The company aims to expand its services to include telehealth options and rehabilitation technologies, anticipating market growth in the healthcare sector driven by an aging population and increased emphasis on outpatient care.

A Who Owns U.S. Physical Therapy, Inc. (USPH)

Ownership Structure

As of the latest data, U.S. Physical Therapy, Inc. (USPH) is publicly traded on the New York Stock Exchange under the ticker symbol "USPH." The ownership of USPH is divided among institutional investors, retail investors, and company insiders.

Institutional Ownership

Institutional ownership accounts for a significant portion of USPH’s shares. As of the most recent filings, the top institutional shareholders are:

Insider Ownership

Insider ownership represents a smaller segment of the overall shares. The following notable insiders hold shares in USPH:

Retail Ownership

Retail investors constitute the remaining shares held in USPH. The exact percentage of retail ownership fluctuates with market conditions but is typically around 25% to 30%.

Recent Market Performance

As of the latest stock market closing, USPH's share price was approximately $38.50. The company’s market capitalization is reported at around $611 million, reflecting its standing as a mid-cap company.

Financial Performance Overview

For the fiscal year ending 2022, U.S. Physical Therapy reported:

Recent Acquisitions

U.S. Physical Therapy has engaged in strategic acquisitions to expand its footprint. In recent years, the company has acquired:

• About 20 outpatient physical therapy clinics in 2022
• Five physical therapy practices in California in 2023
• Several clinics in Texas through partnerships and acquisitions

Market Trends

U.S. Physical Therapy operates in a growing market, with the outpatient physical therapy industry projected to have a CAGR of approximately 6.2% from 2023 to 2030.

U.S. Physical Therapy, Inc. (USPH) Mission Statement

Overview

The mission statement of U.S. Physical Therapy, Inc. (USPH) is to provide the highest quality of physical therapy and rehabilitation services to the patients, helping them regain mobility and improve their overall quality of life. This commitment is demonstrated through the company's dedication to exceptional patient care and innovative therapeutic practices.

Core Values

• Patient-Centric Care: Prioritizing the needs of patients and providing individualized treatment.
• Integrity: Upholding ethical standards in all interactions.
• Excellence: Striving for the highest quality in therapy services.
• Collaboration: Working as a cohesive team to ensure optimal patient outcomes.
• Continuous Improvement: Emphasizing ongoing education and development for staff and services.

Financial Performance

In the year 2022, U.S. Physical Therapy, Inc. reported total revenue of approximately $198.23 million. The net income for the same period was about $16.75 million, translating to a net margin of 8.45%.

Market Presence

As of 2023, USPH operates over 600 outpatient physical therapy clinics across the United States. The company services approximately 2.5 million patient visits annually, solidifying its role as a key player in the rehabilitation market.

Patient Satisfaction Metrics

A recent patient satisfaction survey revealed that 95% of patients reported being satisfied with the care received, and 90% stated they would recommend USPH to friends and family.

Growth Strategy

U.S. Physical Therapy is focused on expanding its market presence and enhancing service offerings through acquisitions and partnerships. The company has successfully completed 10 acquisitions in the past two years, aiming to increase its footprint in new and existing markets.

Staffing and Development

USPH employs over 2,700 therapists and clinical staff with a significant investment in continuing education—budgeting approximately $1.5 million annually for training programs to ensure the staff remains at the forefront of physical therapy advancements.

Table of Financial Highlights (Fiscal Year 2022)

How U.S. Physical Therapy, Inc. (USPH) Works

Business Model

U.S. Physical Therapy, Inc. operates as a provider of outpatient physical therapy services and industrial injury prevention services. The company’s model primarily focuses on establishing and managing outpatient physical therapy clinics and offering rehabilitation services. They do not employ physicians but work with various healthcare providers.

Financial Overview

As of the third quarter of 2023, U.S. Physical Therapy reported total revenue of approximately $168.7 million. The revenue for the year 2022 stood at $602.5 million. The company's net income for the same period was around $17.4 million.

Growth Strategy

U.S. Physical Therapy focuses on strategic acquisitions to expand its presence. In 2023, they acquired 21 clinics through various transactions, aiming to enhance market share and improve service offerings. The company also emphasizes organic growth through an increase in patient visits.

Patient Demographics

The patient demographic primarily includes those recovering from musculoskeletal disorders, sports injuries, and post-operative rehabilitation. The average patient age is between 25 to 65 years, indicating a wide range of conditions treated.

Market Presence

U.S. Physical Therapy operates over 600 clinics across the United States, with a significant presence in states like Texas, Florida, and California. The company has partnerships with several healthcare providers, facilitating patient referrals.

Service Offerings

• Outpatient Physical Therapy
• Industrial Rehabilitation
• Sports Rehabilitation
• Pain Management Services

Competitive Landscape

USPH competes with other physical therapy companies, such as:

• PT Solutions Physical Therapy
• ATI Physical Therapy
• Concentra

Key Performance Indicators (KPIs)

Regulatory Compliance

U.S. Physical Therapy is subject to regulations from bodies such as the Centers for Medicare & Medicaid Services (CMS). Compliance with the Health Insurance Portability and Accountability Act (HIPAA) is crucial for protecting patient information.

Technological Integration

The company utilizes an Electronic Medical Records (EMR) system for efficient patient management, which enhances operational efficiency and data tracking. They also employ telehealth services, expanding access to care.

How U.S. Physical Therapy, Inc. (USPH) Makes Money

Revenue Sources

The primary revenue for U.S. Physical Therapy, Inc. derives from its outpatient physical therapy clinics. As of 2022, the company operated approximately 600 outpatient physical therapy clinics.

• Revenue from clinic operations: $383 million (2022)
• Revenue from management services: $15 million (2022)
• Other revenue sources: $5 million (2022)

Patient Volume

Patient volume significantly influences the company’s revenue. As of the last reported fiscal year, U.S. Physical Therapy served around 1.4 million patient visits.

• Average revenue per patient visit: $273
• Growth rate of patient visits: 8% year-over-year

Service Types

The services offered at U.S. Physical Therapy clinics include:

• Orthopedic rehabilitation
• Sports injury rehabilitation
• Post-operative rehabilitation
• Pediatric therapy
• Neurological rehabilitation

The breakdown of service types shows that orthopedic services account for approximately 65% of total revenue.

Geographical Distribution

U.S. Physical Therapy has a presence in 39 states, with concentrations in:

Insurance Reimbursement

Insurance reimbursement is a significant factor in revenue generation. As of recent data, approximately 75% of U.S. Physical Therapy’s revenue comes from third-party payers.

• Medicare: 40% of total revenue
• Private insurers: 35% of total revenue
• Out-of-pocket payments: 25% of total revenue

Cost Structure

The cost structure of U.S. Physical Therapy includes:

• Staff salaries and benefits: $150 million (2022)
• Rent and utilities: $25 million (2022)
• Marketing and administrative expenses: $10 million (2022)
• Medical supplies and equipment: $20 million (2022)

Overall operating expenses totaled approximately $205 million in 2022.

Financial Performance

The financial metrics for U.S. Physical Therapy as of the end of 2022 are as follows:

Future Growth Strategies

U.S. Physical Therapy focuses on several growth strategies to enhance revenue:

• Expansion of clinic network
• Enhancing digital health technologies
• Strategic partnerships with healthcare providers
• Investment in training and development of staff