10 Emerging g Trends in Physica al Therapy y Salaries Physical therapy t salarry is depende ent on many factors. f Let’s begin by understanding consumer perception p off, and the full scope of physical p thera apy. Consume ers believe tha at physical th herapy is abo out pain relief and masssages. In fac ct, the scope e of physical therapist is much grea ater. New Nichess in Physical A recent article on Monster.com: M Therapy Practice note ed that “physsical therapists (PTs) are carving out o a variety of useful ye et nontraditio onal practice niches in n response to changin ng societal needs and demands..” This mea ans that as society s is cha anging and evolving, e the need for physical p thera apists is incre easing. This e explains why physical therapy sala aries (and ph hysical therapy assistant salaries) are a on the rise e. New pracctice specialtie es in the perfforming arts, emergency e / urgent care, obesity mana agement, wom men’s health and d even anima al therapy are e leading to a higher physiccal therapy sttarting salary. The demand d for a physical therapist is gro owing. Therapistss help in the treatment of bone b and join nt abnormalities, auto-imm mune and neurological dise eases, to name a few. The avverage startin ng annual sa alary for a ph hysical therap pist according to Google is $57,220. The median an nnual salary for f a physical therapist as cited by Sala ary.com is $79 9,863 with a range r of $73,574 – $86,643 (HR reported data as of Fe ebruary 2016)).
What determines d s physical therapy salary? Compenssation for a ph hysical therap pist is determined by a num mber of factorss: • • • • •
Supply and demand as dictated by geographic locatio on Le evel of educa ation (advance ed degrees are often leverraged into hig gher starting salaries) s Y Years of experrience Tyype of therap py clinic Size of the employer
There are e tangible (and non tangible skills) on yo our resume th hat can contrribute to a hig gh physical therapy salary. Be esides industrry trends, here e are the ten emerging trends in physiccal therapy sa alaries in 2016 6: •
Demand fo or a Doctora ate degree (D DPT – Docto or of Physical Therapy) Potential emplloyers look for DPT T candidates. This is a com mpetitive edge. It can be le ead to a highe er physical therapy
starting salary. Interestingly, this is in direct contradiction to a recent article published by ADVANCE magazine. The article indicated that a significant number of physical therapists with a Bachelor or Masters degree are earning higher annual salaries than those with a Doctorate degree. This is presumably because the acquisition of doctorate degrees by therapists is a more recent phenomenon within the physical therapy industry. Those physical therapists with Bachelor or Master Degrees have been in the workforce for a longer period of time compared to those who have earned a DPT. More experience translates into higher earnings than their more educated (but newer to the workforce) colleagues. •
Certifications of Specialization increase the odds that physical therapy starting salary will be higher. Those in possession of advanced clinical knowledge and skills in such specialized areas of practice as OCS (Orthopedic Clinical Specialist), Clinical Electrical Physiology or Geriatrics, for example, can command higher salaries. The website of the American Board of Physical Therapy Specialties states that their mission “is to advance the profession of physical therapy by establishing, maintaining, and promoting standards of excellence for clinical specialization, and by recognizing the advanced knowledge, skills and experience by physical therapist practitioners through specialist credentialing.”
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An Adaptable Personality and Team Spirit – allows you to play different critical roles within the practice. The day-to-day operation of a clinic often requires therapists who are willing and eager to take up the mantle of different roles. This contributes to the overall growth and continued success of the practice. Employers look for and ultimately reward employees who, when called upon, will go above and beyond. They look for therapists ready to help with marketing of a cash-based program, calling former patients, visiting physicians to renew or build referral relationships, etc.
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Reasonable Comfort Level with Technology. Today, private practice owners want and hire physical therapists (sometimes at a premium) because they are comfortable with EMR, email marketing and social media. Such candidates contribute to the overall efficiency and productivity of a clinic. Physical therapists must acquire and develop skill sets that extend beyond the therapeutic arena. They should be able to quickly learn and adapt to the requirements of the clinic’s EMR software or billing system. They should be able to schedule patients and send text reminders/confirmations when needed.
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Location and Work Environment According to this US News article which ranked physical therapy as #12 in Best Health Care Jobs, “The best-paid physical therapists live in the metropolitan areas of Las Vegas; Laredo, Texas; and Brownsville, Texas.” The highest paid 10% (in the nation’s top-paying state, Nevada) made $116,090, while the lowest 10% made $56,800. Also, the highest annual salaries were paid to physical therapists working in schools, home health care and nursing care facilities.
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Standing within the Community How well known are you within the community? Physical therapy salary is is directly proportional to a candidate’s standing as a physical therapist and citizen, within the community that they serve. People tend to do business with people that they know, like and trust. If a physical therapist is applying for a position and is well-known within the community, through previous patient work or community service, the candidate is more likely to get a higher physical therapy starting salary. The ‘tangible’ asset of goodwill and potential patients that come with the therapist is a bargaining chip when negotiating salary.
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Gender. According to several surveys and studies performed by Advance Physical Therapy, physical therapists are predominantly women. An interesting statistic from their physical therapy salaries survey indicates that a significantly higher percentage of males rather than females, earn $75,000. This data suggests that a “financial bias” exists within the industry that pays male physical therapists higher wages than females.
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Age. The typical age range for most physical therapists is from the mid-thirties to the midfifties. Experience over time yields higher compensation.
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Management and Leadership Positions. Physical therapists who assume managerial roles have more responsibilities. These include staff management, education and motivation, productivity, as well as tracking and measuring profitability. These candidates are paid higher wages that reflect their higher commitment to the success of the practice.
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An Aging Population As the population ages, the demand for physical therapists will only increase. There are currently 5.8 million aged 85 and older and it is projected to increase to 8.7 million in 2030. By 2030, more than one in three Americans will be over 50, one in five will be over 65 and one in eight will be over the age of 75 by the year 2040. Visit http://www.nitin360.com/10-emerging-trends-in-physical-therapy-salaries.html/