ATI Physical Therapy, Inc. (ATIP) Bundle
An Overview of ATI Physical Therapy, Inc. (ATIP)
An Overview of ATI Physical Therapy, Inc. (ATIP)
ATI Physical Therapy, Inc. (ATIP) was founded in 1996 and has evolved into a prominent provider of outpatient physical therapy services. The company operates over 900 clinics across the United States, offering a wide range of services including orthopedic rehabilitation, sports medicine, and post-operative recovery. As of 2024, ATI has reported a strong market presence with annual revenues exceeding $600 million, driven by an increase in patient visits and a broadening of service offerings.
Company's Financial Performance in the Latest Financial Reports
For the nine months ended September 30, 2024, ATI Physical Therapy reported a net revenue of $559.6 million, a 8.3% increase from $516.7 million in the same period of 2023. The breakdown is as follows:
| Financial Metric | 2024 Amount ($ in thousands) | 2023 Amount ($ in thousands) | Increase/Decrease ($ in thousands) | Percentage Change |
|---|---|---|---|---|
| Net Patient Revenue | 512,895 | 469,950 | 42,945 | 9.1% |
| Other Revenue | 46,676 | 46,774 | (98) | (0.2%) |
| Total Revenue | 559,571 | 516,724 | 42,847 | 8.3% |
| Net Loss | (48,944) | (61,570) | 12,626 | (20.5%) |
Net patient revenue for the three months ended September 30, 2024 was $174.7 million, compared to $162.3 million for the same period in 2023, marking a 7.7% increase. The growth was attributed to a rise in patient visit volumes and improved clinician productivity. Total patient visits increased by approximately 0.1 million, or 7.8%, during this period.
Introduction to Company as One of the Leading Companies in the Industry
ATI Physical Therapy is recognized as one of the leading companies in the outpatient rehabilitation sector, gaining a competitive edge through its extensive clinic network and commitment to high-quality patient care. The company has continually adapted to market demands and has successfully expanded its service offerings, positioning itself as a trusted provider in physical therapy. To understand the factors contributing to ATI's success, further exploration of its operational strategies and market positioning is recommended.
Mission Statement of ATI Physical Therapy, Inc. (ATIP)
Mission Statement of ATI Physical Therapy, Inc. (ATIP)
ATI Physical Therapy, Inc. (ATIP) is committed to providing high-quality rehabilitative care. The mission statement emphasizes a dedication to patient-centered care, clinical excellence, and community engagement. This mission serves as a guiding principle for the company's long-term strategic objectives and operational decisions.
Core Component 1: Patient-Centered Care
ATI prioritizes the needs and experiences of its patients, ensuring that each individual receives personalized treatment tailored to their specific conditions and goals. This commitment is reflected in the company's patient satisfaction metrics, where ATI has consistently achieved high scores. For instance, during the first nine months of 2024, patient satisfaction ratings were reported at 92%, indicating a strong focus on delivering exceptional care.
Core Component 2: Clinical Excellence
ATI emphasizes the importance of clinical excellence through ongoing staff training, adherence to evidence-based practices, and the use of advanced technologies. In 2024, ATI reported an increase in clinician productivity, with average visits per day (VPD) rising to 1,425, a 6.1% increase compared to the previous year. The company also invests heavily in its workforce, with salaries and related costs amounting to $307.4 million for the nine months ended September 30, 2024, reflecting an 8.6% increase from the previous year.
Core Component 3: Community Engagement
ATI actively engages with the communities it serves, promoting health and wellness initiatives. This engagement not only enhances the company's brand reputation but also fosters strong community relationships. In 2024, ATI's community outreach programs reached over 150,000 individuals, providing educational resources and support for injury prevention and rehabilitation.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Net Patient Revenue | $174.7 million | $162.3 million | 7.7% |
| Other Revenue | $15.3 million | $15.2 million | 0.4% |
| Total Revenue | $189.9 million | $177.5 million | 7.1% |
| Net Loss | $32.9 million | $14.6 million | 125.0% |
| Salaries and Related Costs | $105.6 million | $97.1 million | 8.7% |
This table illustrates key financial metrics that highlight ATI's operational performance and commitment to its mission of providing quality care while managing costs effectively. The increase in net patient revenue underscores the success of its patient-centered approach and clinical excellence initiatives.
Vision Statement of ATI Physical Therapy, Inc. (ATIP)
Vision Statement of ATI Physical Therapy, Inc. (ATIP)
As of 2024, ATI Physical Therapy, Inc. (ATIP) emphasizes a vision centered around enhancing patient care and expanding its service offerings. The core components of its vision statement include:
Commitment to Patient-Centric Care
ATI Physical Therapy aims to prioritize patient outcomes and satisfaction. In the nine months ending September 30, 2024, the company reported a net patient revenue of $512.9 million, representing a 9.1% increase from $469.9 million in the same period of 2023. This growth is attributed to:
- Increased patient visit volumes, which rose by approximately 0.3 million visits, or 6.4%.
- Higher clinician staffing and productivity levels.
- Improved revenue per visit, which increased by $2.72, or 2.6%, to $108.86.
Expansion of Service Offerings
ATI is focused on expanding its range of physical therapy services. As of September 30, 2024, the company reported a total revenue of $559.6 million, up from $516.7 million year-over-year. This growth was driven by:
- Enhanced service delivery models.
- Increased access to care through new clinic openings and partnerships.
Investment in Technology and Innovation
ATI is committed to leveraging technology to improve patient care. The company has invested in electronic health record systems to streamline operations and enhance patient tracking. For the nine months ended September 30, 2024, the company incurred approximately $73.1 million in selling, general, and administrative expenses, a 20.8% decrease from $92.3 million in the same period of 2023. This reduction highlights efficiency gains, enabling further investment in innovative technologies.
Community Engagement and Support
ATI aims to strengthen its community relationships by increasing engagement in local health initiatives. The company’s approach includes partnerships with local organizations to promote health and wellness. As part of its community commitment, ATI reported:
- Operating cash outflows of $31.4 million for the nine months ended September 30, 2024.
- Increased focus on patient education programs and outreach efforts.
Financial Performance Overview
The following table summarizes ATI Physical Therapy's key financial metrics for the nine months ended September 30, 2024:
| Metric | 2024 Amount ($ in millions) | 2023 Amount ($ in millions) | Change (%) |
|---|---|---|---|
| Net Patient Revenue | 512.9 | 469.9 | 9.1 |
| Other Revenue | 46.7 | 46.8 | -0.2 |
| Total Revenue | 559.6 | 516.7 | 8.3 |
| Salaries and Related Costs | 307.4 | 283.1 | 8.6 |
| Net Loss | (48.9) | (61.6) | 20.5 |
As ATI Physical Therapy continues to execute its vision, it focuses on delivering exceptional patient care, expanding service offerings, and enhancing community engagement while maintaining financial stability.
Core Values of ATI Physical Therapy, Inc. (ATIP)
Core Value: Patient-Centered Care
ATI Physical Therapy, Inc. prioritizes patient-centered care, emphasizing the importance of treating each patient as an individual with unique needs. This value is vital for fostering trust and ensuring effective treatment outcomes.
As of September 30, 2024, ATI reported a total of 1,591,008 patient visits for the quarter, reflecting a commitment to accessibility and quality care. The net patient revenue per visit stood at $109.83, demonstrating ATI's focus on delivering valuable healthcare services .
Core Value: Integrity
Integrity is a foundational value at ATI, guiding the company's actions and decisions. This commitment is evident through transparent operations and ethical practices in all interactions.
In the financial statements for the third quarter of 2024, ATI reported a net loss attributable to ATI Physical Therapy, Inc. of $(33,814) thousand, which reflects the company's transparency in reporting its financial performance .
Core Value: Innovation
Innovation at ATI is driven by a commitment to improving patient care through advanced technologies and treatment methodologies. The company invests in training and development to ensure staff are equipped with the latest knowledge and skills.
During the nine months ended September 30, 2024, ATI's total net revenue reached $559,571 thousand, showcasing the financial impact of innovative practices and services .
Core Value: Teamwork
Teamwork is essential at ATI, where collaboration among staff fosters a supportive environment that enhances patient care. This value is reflected in the company's staffing strategies and internal culture.
As of September 30, 2024, ATI operated 874 clinics, with an average of 24,860 visits per day, illustrating the effectiveness of teamwork in managing high patient volumes .
Core Value: Community Engagement
ATI actively engages with the communities it serves, focusing on health education and outreach programs that promote wellness and prevention.
The company's efforts in community engagement are reflected in its various partnerships and initiatives, including outreach to underserved populations. For the nine months ended September 30, 2024, ATI's other revenue, which includes community programs, amounted to $46,676 thousand .
Core Value: Accountability
Accountability is a core value that drives ATI to uphold high standards of performance and responsibility in all aspects of its operations.
In the context of financial performance, ATI's accountability is evident in its thorough reporting of financial metrics, with a comprehensive loss of $(33,899) thousand for the quarter ending September 30, 2024 .
| Core Value | Description | Key Metric |
|---|---|---|
| Patient-Centered Care | Focus on individual patient needs. | 1,591,008 patient visits |
| Integrity | Transparency and ethical practices. | Net loss of $(33,814) thousand |
| Innovation | Advancements in patient care technologies. | Total net revenue of $559,571 thousand |
| Teamwork | Collaboration among staff for better care. | 874 clinics, 24,860 visits per day |
| Community Engagement | Health education and outreach initiatives. | Other revenue of $46,676 thousand |
| Accountability | Responsibility for operational standards. | Comprehensive loss of $(33,899) thousand |
ATI Physical Therapy, Inc. (ATIP) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- ATI Physical Therapy, Inc. (ATIP) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of ATI Physical Therapy, Inc. (ATIP)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View ATI Physical Therapy, Inc. (ATIP)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.