PersistenceMarketResearch states that the global outpatient home therapy market is slated to go great guns between 2020 and 2030.
Outpatient home therapy is different from the one provided under PDGM (Patient Driven Groupings Model). It is, instead, grouped under MPFS (Medicare Physician’s Fee Schedule). This is with the US. Apart from it, outpatient home therapy is gaining popularity all over due to the convenience factor involved therein.
However, it needs to be noted that ignorance does exist regarding outpatient home therapy as several agencies are not known to the fact that such services could be provided. Also, there are cases when agencies know about the provision of these services but don’t understand billing and reimbursement procedures. This could be reasoned with the reality that they are different in comparison with conventional home health episodic billing. These factors do restrain the outpatient home therapy market in the current scenario, but conducting awareness campaigns regarding the same could work wonders in the upcoming period.
Outpatient home therapy, by type, spans physical therapy (geriatric physical therapy, orthopaedic physical therapy, neurological physical therapy, pulmonary and cardiopulmonary physical therapy, and others), speech therapy (speech disorder (articulation disorders, resonance or voice disorders, fluency disorders), language disorder (receptive disorders, expressive disorders, cognitive-communication disorders), apraxia, ASD (Autism Spectrum Disorder), and the other disorders). By age group, it’s adults, elderly, and paediatrics.
North America holds the largest market share. This could be attributed to the growing patient population. Also, the fact that technologically advanced healthcare services/products find their way to the US first can’t be ruled out. Europe comes across as the second seeded region on this count. The Asia-Pacific is expected to grow at the fastest rate going forward with multi-specialty care centres flourishing all across.
The key market participants include FullMotion Physical Therapy, AmeriCare Physical Therapy, Rehab Alternatives, OSHER WORLDWIDE, and Glenda Browne Speech Pathology.
The future is there to look through some more inclinations toward outpatient home therapy, especially the unexplored regions of LATAM and MEA (apart from the Asia-Pacific), which are likely to keep the cash registers ringing.
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