Occupational Therapists in the US Industry Market Research Report from IBISWorld Has Been Updated

New York, NY (PRWEB) February 23, 2015

Over the past five years, the Occupational Therapists industry has benefited from healthcare reform. For example, healthcare reform requires Medicare and Medicaid to cover preventive services, which may include occupational therapy (OT). Overall, OT is covered for Medicare and Medicaid beneficiaries, so long as industry services are required to prevent, diagnose or treat an injury, condition or illness. In most states, to expand Medicaid eligibility, the state has been required to cover OT as an essential health benefit (EHB). “In addition, occupational therapists have been able to provide habilitative services, even if the private health insurer did not cover this service in previous years, effectively expanding the industry’s scope of care,” according to IBISWorld Industry Analyst Sarah Turk. However, in 2015, Medicare’s coverage of occupational therapy was set at $ 1,940, constraining the industry’s revenue growth.

In addition, in 2012, states adopted EHB benchmark plans, with each state choosing its own model for services covered by small group and individual health insurance plans. “Thanks to autism reform legislation, 40 states have mandated that health insurers cover OT for patients with autism, providing a boon to the industry,” says Turk. During the five years to 2015, industry revenue is expected to grow at an annualized rate of 2.8% to $ 20.4 billion. In 2015, revenue is expected to grow 1.8%, which can be partly attributed to the Protecting Access to Medicare Act of 2014. This law, effective through March 31, 2015, has extended the exemption process for Medicare beneficiaries that have exceeded their outpatient therapy cap.

During the five years to 2020, industry revenue is forecast to grow. The burgeoning elderly population will bolster demand for industry services, namely OT for individuals with Alzheimer’s disease and arthritis as well as stroke patients. As healthcare insurance providers seek to cut costs, many will provide favorable reimbursements for noninvasive outpatient treatment options, including OT.

For more information, visit IBISWorld’s Occupational Therapists in the US industry report page.

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IBISWorld industry Report Key Topics

This industry includes independent health practitioners who help individuals with physical, mental or developmental conditions with daily living and working through everyday activities (occupations). More specifically, occupational therapy includes: helping children with disabilities to participate fully in school and social situations; helping individuals recovering from injury to regain skills; and providing support for individuals experiencing physical and cognitive changes.

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About IBISWorld Inc.



Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://ift.tt/UiKiKD or call 1-800-330-3772.

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