Will Humphreys breaks down why physical therapy is a solid career choice through 2030. The field grows 6.2% annually, the market is worth $35 billion, and demand will spike as baby boomers hit 65. He built a multi-location PT business since graduating in 2003.
Questions this video answers
2003.
2030.
6.2% per year.
$35 billion (annual).
Approximately 38,000 clinics.
Chapters
So should you still plan on becoming a PT in 2021 and beyond? Guys, in this video, I'm going to share with you market research that's going to help you get the information you need to make a decision, because information always leads to inspiration. Coming up.
Hi guys. My name is Will Humphreys and and here on this channel I share the lessons I learned in creating a multi million, multi locational PT business with you to help you increase your income, impact and freedom. When I graduated in 2003, it was the same situation. There were very few jobs. As a matter of fact, there were PTs in the class above me that became lawyers and MDs. I myself applied to do school because I didn't know if I was going to find a job or not. I got in and had to make the decision, did I want to stay being a PT and finish that path or become a do? And ultimately I did research that helped me make my decision and I'm so glad I did because as you will see in the video in the upper right hand corner, I am incredibly grateful that I made the decision. I did. And the first thing I'm going to talk about is the year 2030. 2030 is an important year in physical therapy and in healthcare in general because that's the year that all baby boomers are going to be age 65 and above. So what does that mean? Well, it means that one out of every five people in the United States is going to be retirement age. And you guessed it, if they're retired, there's a higher likelihood they're going to need physical occupational therapy. So as you look at the growing demand in our industry, then it becomes a question of whether or not we're going to be able to provide that. Well, current trends show that the physical therapy industry is growing at a 6.2% annual rate. That's a significant growth rate. And as we look at the increasing demand, people are speculating that that rate is only going to increase. As of now, estimates are saying that our physical therapy industry is a $35 billion annual industry. That's a large industry, especially when you consider there's only 38,000 clinics that provide physical occupational and speech therapies in the country. So the short answer is yes, Even though it's going to be a little bit difficult, I want to remind you that our industry has gone through these cycles before where there was fewer jobs than usual. But overall, we're going to correct, there's going to be plenty of opportunity to grow. So if your passion is being a physical therapist. Stay with it. It will be worth it. That I promise. Guys, thanks for watching. If you like this video, please consider clicking like and subscribe. If you that continues to help me make videos like these for you. Until next time.
