U.S. Physical Therapy Introduces Workers Compensation and Disability Initiative Fit2WRK™
January 18 2011 - 7:00AM
Business Wire
U.S. Physical Therapy, Inc. (NasdaqGS: USPH), a national
operator of outpatient physical therapy clinics, announced that it
has successfully launched a workers compensation and disability
initiative called Fit2WRK. Fit2WRK provides an integrated solution
for the management and prevention of injuries in the workplace.
Through Fit2WRK, U.S. Physical Therapy has secured a number of
network and employer direct agreements. From auto manufacturing to
fabrication, chemical processing plants, logistics companies,
housing supplies and grocery chains, Fit2WRK is proving to reduce
loss time and employer cost from injury as well as to expedite
employee return to work. Programs are designed around the higher
risk jobs in the workplace involving potential musculoskeletal
disorders.
The successful launch of Fit2WRK was accomplished through
education and training programs combined with the addition of
regional industrial specialists enabling the Company to increase
exposure and secure business for the Fit2WRK program. In 2011, U.S.
Physical Therapy through Fit2WRK intends to continue to establish
national contracts with networks, employers, third party
administrators and case managers.
Through its extensive service offering and proprietary solutions
for employers, Fit2WRK is proving to be a significant value. Ray
Gagne, Vice President-Workers Compensation and Disability, said,
“We are pleased with the positive impact we have made this past
year with Fit2WRK. From conception to roll out we have taken the
time to understand the needs of the user community and are excited
about the opportunities.”
Gagne continued, “U.S. Physical Therapy and our affiliates are
well situated from both a geographical footprint and clinical
experience standpoint to increase our base in the workers
compensation and disability market.”
An overview of the Fit2WRK program is available at
www.fit2wrk.com
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 392
clinics in 42 states. The Company's clinics provide preventative
and post-operative care for a variety of orthopedic-related
disorders and sports-related injuries, non-surgical treatment of
osteoarthritis, treatment for neurologically related injuries and
rehabilitation of injured workers. In addition to owning and
operating clinics, the Company manages physical therapy facilities
for third parties, including hospitals and physician groups. More
information about U.S. Physical Therapy, Inc. is available at
www.usph.com. The information included on that website is not
incorporated into this press release.
Forward-Looking Statements
This press release contains statements that are considered to be
forward-looking within the meaning under Section 21E of the
Securities Exchange Act of 1934. These statements contain
forward-looking information relating to the financial condition,
results of operations, plans, objectives, future performance and
business of our Company. These statements (often using words such
as “believes”, “expects”, “intends”, “plans”, “appear”, “should”
and similar words) involve risks and uncertainties that could cause
actual results to differ materially from those we project. Included
among such statements are those relating to opening new clinics,
availability of personnel and the reimbursement environment. The
forward-looking statements are based on our current views and
assumptions and actual results could differ materially from those
anticipated in such forward-looking statements as a result of
certain risks, uncertainties, and factors, which include, but are
not limited to:
- revenue and earnings expectations;
- general economic conditions;
- business and regulatory conditions
including federal and state regulations;
- changes as the result of government
enacted national healthcare reform;
- availability and cost of qualified
physical and occupational therapists;
- personnel productivity;
- changes in Medicare guidelines and
reimbursement or failure of our clinics to maintain their Medicare
certification status;
- competitive, economic or reimbursement
conditions in our markets which may require us to reorganize or
close certain clinics and thereby incur losses and/or closure costs
including the possible write-down or write-off of goodwill and
other intangible assets;
- changes in reimbursement rates or
payment methods from third party payors including government
agencies and deductibles and co-pays owed by patients;
- maintaining adequate internal
controls;
- availability, terms, and use of
capital;
- acquisitions and the successful
integration of the operations of the acquired businesses; and
- weather and other seasonal
factors.
Many factors are beyond our control. Given these uncertainties,
you should not place undue reliance on our forward-looking
statements. Please see our periodic reports filed with the
Securities and Exchange Commission (the "SEC") for more information
on these factors. Our forward-looking statements represent our
estimates and assumptions only as of the date of this press
release. Except as required by law, we are under no obligation to
update any forward-looking statement, regardless of the reason the
statement is no longer accurate.
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