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ADVANCE Perspective: Physical Therapy & Rehab Medicine

The Floundering Economy: Will You Be Affected?

Published November 21, 2008 9:55 AM by Lauren Fritsky

In our Nov. 17 issue, Brett Frankenberg, PT, CAE, discussed whether the weakening economy will be good or bad for the health care business.

 

He points to the area of workers’ compensation as a possible place of growth. With more and more employees getting laid off, the remaining ones will be putting in overtime and possibly experiencing more on-the-job injuries requiring rehab. PTs may also start seeing more older clients as well, since many are being forced to put off retirement and continue working to make ends meet.

 

But there’s no denying that the thousands of other workers who are losing their jobs and possibly their access to health insurance could be a drain on business. And while President-Elect Barack Obama has a health care reform plan the works, it will take time to implement. What will happen during the transition period?

 

What are your thoughts, fears and comments about how the bleak financial picture might affect your career or business? What can PTs do to make sure they stay afloat?

1 comments

The rising cost of health care is directly and indirectly related to the cost of medical liability insurance. There is a high price tag hospitals, nursing home, physicians and basically every healthcare professional in malpractice primiums due to attorneys slapping lawsuits for millions. There is an incident when a hospital was sued and lost because a clairvoyant lost the ability to foresee the future because of an MRI procedure, or a physican was sued for saving a life but burned the Pt by using the defibrillator. These cost are transferred to the consumers. Unfortunatly, frivolous lawsuits with millions of dollars at stake will continue. Lawyers will continue to advertise to sue and lawyers become politicians

Jake December 7, 2008 1:18 PM

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