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Last Updated on: June 5, 2022 by Joseph Muriithi

Executive Summary

The purpose of this Therapy and Medicine Business Plan is to raise $3,000,000 for the development of a remote physical therapy practice while showcasing the expected financials and operations over the next three years. Physical Therapy Medicine LLC is a United States based corporation that will provide general physical therapy to customers in its targeted market from a remote access. This will comprise of “proprietary software name”, being the main development, as a state of the art technology, 3D motion sensing device and software suite which allows Physical Therapy, prescribed and monitored by a qualified clinician, to be performed remotely, in the privacy of the Patient’s home, or office.

Opportunity

Currently, the healthcare delivery system is trending toward prevention and wellness which we have the opportunity to provide. Along with changes in healthcare delivery, there is also a movement toward decreasing industry costs. With our contracts with large companies and patient groups we will be able to provide care to large number of patients at a reduced cost. We feel that our clinicians can provide physical therapy services to the ever-changing demographic within the Greater global community.

MISSION STATEMENT

Physical Therapy Medicine LLC is a customer focused physical therapy medicine program, that uses a state of the art technological approach to provide quality occupational health, safety and rehabilitation services that addresses a person’s total health (body, mind and spirit) while developing and nurturing efficiency.

Product & Service Summary

The company is establishing “proprietary software name” software and hardware suite to propel administration of physical therapy remotely. The development will be comprised of 3D motion sensing devices that will track and monitor remote physical therapy administration. The therapy will be fully guided by the system, and results will be immediately available to the clinician and/ the patient.  Patients are given encouragement and guidance through the entire process.  The program will have options to be changed by the clinician to spur progress, or to adjust responses a feature that is lacking in the current remote therapy administration programs.  The software bundled with the hardware collects data on patient compliance, program efficiency, and effectiveness, and also on clinician actions, to ensure that best case actions are promoted in order for patients to get better, faster.

Technology

  • Every physical movement and activity is precisely captured and measured by “proprietary software name”.  Motions are measured and compared to programs as prescribed by the Clinician.
  • Guidance is given in real time if any motion or exercise is not performed properly, cannot be completed, or if there is difficulty, or pain.
  • “proprietary software name”’s server in the Cloud has been designed for secure, rapid interaction, and allows the clinic to monitor and update routines quickly.

Market Summary

Market analysis

The role of physical therapy in the health care community is expanding at a rapid rate. Consequently, the market for physical therapists is also expanding. This exciting season of growth is due to the profession’s drive toward autonomy in the health care community, as physical therapists are taking on a more proactive role in the health care market offering not only the diagnosis & treatment of diseases, disabilities and injuries but also the prevention of these health care issues that keep them from living at their greatest potential. Because of this, the demand for physical therapists as a primary health care provider is on the rise

Industry analysis

Physical therapy practices generate more than $8 billion dollars a year of revenue in the United States each year. Nationwide there are more than 12,000 businesses devoted solely to the practice of physical therapy. Additionally, the industry provides over 141,000 jobs, and provides gross average annual payrolls in excess of $4 billion dollars. The five-year growth rate for the industry has exceeded 25% as more patients are looking for alternatives to invasive surgeries for injuries, keeping fit and so on.

Statistics

  • In 2013, physical therapists were rated number eight in the top 100 best jobs in terms of employment opportunity, good salary, manageable work-life balance, and job security according to the US News & World Report.
  • According to the Bureau of Labor Statistics, employment of physical therapists is expected to grow 39% from 2010-2020. 
  • More than 198,000 physical therapists are licensed in the United States with a median income of $80,000. 
  • According to the APTA, physical therapy has a 0.2 percent unemployment rate.

VISION STATEMENT

The company expects that the business will aggressively expand during the first three years of operation. Physical Therapy Medicine LLC intends to implement marketing campaigns that will effectively capture an overwhelming client base with the objective of assuring repeat business,


 

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