Reduction in insurance payments

Every year I notice the decreasing payments from health insurance companies. Yet, their stock prices continue to rise. They are making more money and independently owned physical therapy practices make less.

I started a practice because I wanted to do things my way (the right way of course). I didn't want the super crowded and extremely packed schedule of a typical large chain PT company. I wanted more one on one care and more personal approach. In my clinic, we give each patient the needed care and work as hard as possible to make sure they recover as fast as possible. However, with the decreases in reimbursement, it's getting tougher to do. Since 2002, the national average reimbursement has dropped from $102 to $71. Yet, costs for policies have gone up an average of 68% during that time. To add salt to the wound, another clinic owner enlightened me about these insurance company's intentions. He spoke with the regional rep from one of the insurance companies. The clinic owner asked why a hospital based therapy clinic gets $130-$150 per visit while we get $50 a visit. Their answer was shocking. They pretty much said they want to put us out of business by 2010, and because we are all separate little companies, we have no power to stop them!!!

After restraining my self from choking the phone I was one, I took a deep breath and thought "how can we fight this". In New Jersey, the NJ society of independent physical therapists have been working hard to help us "little people" do big things. I hope any therapist reading this considers joining them. http://njsipt.com/index.php

In other states, I'm sure therapists are facing similar issues. Between this crap and STARK issues, we need to voice our opinions and DO SOMETHING. If you are reading this and thinking this does not affect you, you are very much mistaken.