The Market Challenges and Opportunity
Physical Therapy is a 30 billion dollar market growing at 5% annually. Successful outcomes are dependent on actions done outside the clinic. Studies have shown patients forget, misinterpret, and are generally not accountable to prescribed actions. Further, system centric healthcare today is not efficient at managing expectations or costs. As a result, health insurance trends and the ACA/MACRA are moving purchasing decisions to bundled care—outcome based treatments, high deductible plans, or cash pay. Patient expectations and satisfaction have become new drivers in healthcare.
TherApp™ Mobile App and Clinic
A mobile Physical Therapy platform that helps patients follow and complete therapy outside the clinic. TherApp™ automatically reminds patients to complete their exercises. It tracks performance, communicates, and allows the clinician to adjust protocol(s) remotely.
TherApp™ Band and Clip
A wearable device that in real time monitors quality of movement and syncs user and provider. TherApp™ is the ideal in-home advocate that provides objective data for better outcomes.
The TheraTec Aim™
TheraTec’s Goal is to Promote behavior change and optimal outcomes where they take place, outside the clinic.
The key to better outcomes starts with patients showing up for their therapy and then continuing their exercises at home. The average outpatient course of care is between 7-10 visits and most patients only come in a few times. Reimbursement rates are decreasing. On average 20% of patients start therapy, and only 30% of these patients stick with their program. This lack of compliance can translate into hundreds and thousands of dollars of lost revenue per year for clinics in addition to compromised outcomes and quality scores.1
The TherApp™ Physical Therapy Program motivates more patients to do their PT and keeps them engaged and committed throughout their program. With the TherApp™ Virtual Clinic, PTs can monitor patients and stay connected throughout the care continuum, adapting their patients’ program as needed both during therapy sessions and outside the clinic.
(1) 8 Thought Provoking Facts About Physical Therapy You Can’t Ignore, Strive Labs Blog