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U.S. Physical Therapy history
U.S. Physical Therapy company history timeline
Kosberg grew up in Texas and had a varied career by the time he began United States Physical Therapy in 1990.
The 1990's brought much attention to manual therapy, with formal residency programs becoming more numerous.
During the summer of 1991, Norwegian manual therapist Freddy Kaltenborne helped create the American Academy of Orthopedic Manual Physical Therapy (AAOMPT). Doctor Stanley Paris, PT and Ola Grimsby, PT were among the founding members.
The company had revenue of only slightly more than that, at $2.4 million, in 1992, and it had lost $1.2 million that year.
It opened 27 clinics in 1994, and as expected, it took some time for the new shops to become profitable.
USPH finished 1994 with revenues of $17.2 million.
1994: A new CEO heads the company.
Eventually a successful clinic had a profit margin Spradlin described as "huge." USPH finally saw black ink in the second quarter of 1995, and the company began a run of year-by-year increases in sales and net income, often at spectacular rates.
In 1996, Shirley A. Sahrmann became the first recipient of the prestigious John H.P. Maley Lecture Award.
In 1997, the company changed its stock listing from the NASDAQ Small Cap Market to the NASDAQ National Market System.
New clinics in 1998, for example, were all over the map, in such smaller cities as Portland, Maine, and Brookings, South Dakota, and suburban areas such as Tenafly, New Jersey.
With an increase of almost 25 percent in patient visits in the third quarter of 2000, profits rose 64 percent.
Because almost all of its billings were covered by insurers, and not by the patients directly, the company expected patients to keep filling its clinics even as the recession that began in the final months of 2000 dragged on.
In 2000, APTA was focused on strategic change.
By the third quarter of 2001, revenue was more than 70 percent greater than for the same time a year earlier.
Earnings in the second quarter of 2001 were double what they had been for the same period a year earlier, while patient visits rose more than 20 percent for both the first two quarters of that year.
2002: Founder Kosberg resigns.
Some of these advances have continued to grow, with computerized modalities such as ultrasound, electric stimulators, and iontophoresis with the latest advances in therapeutic cold laser, which gained FDA approval in the United States in 2002.
By the spring of 2003, USPH decided that its earnings would probably grow in the range of 10 to 17 percent for the year, instead of the 17 to 22 percent it had projected earlier.
By 2004, the chain had grown to close to 250 clinics.
To increase PTAs’ knowledge and skills in a select area of physical therapy, in 2004 APTA established a program called Recognition of Advanced Proficiency for the Physical Therapist Assistant.
A long-anticipated dream to create a center specifically targeted to foster stronger physical therapist leadership in health policy and health services research was born in 2015.
The Frontiers in Rehabilitation, Science, and Technology (FiRST) Council was established in February 2016 as a community for interested stakeholders.
“Building a community that advances the profession of physical therapy to improve the health of society” became the official mission statement for APTA in 2018.
In 2000, APTA was focused on strategic change. As a result, APTA’s House of Delegates adopted “Vision 2020,” a new path forward for the profession.
January 15, 2021, marks 100 years to the day since the first meeting of APTA’s founders at Keens Chophouse (now known as Keens Steakhouse) in New York City.
Our association celebrates its centennial in 2021.
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U.S. Physical Therapy competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Briotix | 1997 | $10.0M | 175 | 38 |
| Twin Cities Orthopedics | 1996 | $60.0M | 3,000 | 118 |
| Rehabilitation Institute of Michigan | 1951 | $370.0M | 3,000 | - |
| Niagara Falls Memorial Medical Center | 1895 | $204.8M | 3,000 | 4 |
| IL Bone & Joint | 1991 | $510,000 | 1,000 | 54 |
| Promises Behavioral Health | 2007 | $1.0B | 750 | 96 |
| HOUSECALL MEDICAL RESOURCES, INC | 1994 | $260.0M | 2,338 | - |
| Skilled Healthcare | 2003 | $114.4M | 7,500 | - |
| Medquest | - | $57.1M | 1,000 | 83 |
| Health Group | 2002 | $270,000 | 7 | - |
U.S. Physical Therapy history FAQs
Zippia gives an in-depth look into the details of U.S. Physical Therapy, including salaries, political affiliations, employee data, and more, in order to inform job seekers about U.S. Physical Therapy. The employee data is based on information from people who have self-reported their past or current employments at U.S. Physical Therapy. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by U.S. Physical Therapy. The data presented on this page does not represent the view of U.S. Physical Therapy and its employees or that of Zippia.
U.S. Physical Therapy may also be known as or be related to U S PHYSICAL THERAPY INC NV, U.S Physical Therapy Inc, U.S. Physical Therapy, U.S. Physical Therapy, Inc., U.s. Physical Therapy, Inc., US Physical Therapy and US Physical Therapy Inc.