The 2024 Podiatry Market Outlook outlines a multitude of practice management challenges that foot and ankle specialists are facing as they move into the year ahead. Gain insight on industry trends and strategies to set your practice up for success.
Key Takeaways:
- The long-term effects of COVID-19 combined with the unique needs of an aging and increasingly sick population are putting a strain on the United States healthcare system.
- Despite inflation, podiatry practice revenues are bouncing back post-COVID but Medicare’s 3.37% cut to physician reimbursements could have a massive impact on bottom lines.
- Amidst declining reimbursements, private practices are opting-out of insurance and early adopters are finding success with the direct care model.
- Increasing competition is pushing podiatrists away from the solo-physician model and towards group and multidisciplinary practices.
- In the rapidly evolving landscape of patient care, podiatrists must adapt to shifting industry trends and emerging treatment approaches to gain competitive advantage, remain successful, and meet shifting patient demands.
