ATI Physical Therapy, Inc. (ATIP): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la physiothérapie, la physiothérapie ATI se distingue comme un fournisseur de soins de santé transformateur, révolutionnant les services de réadaptation grâce à une technologie innovante, des approches de traitement personnalisées et un modèle commercial complet qui plie les soins aux patients avec des solutions numériques de pointe. En intégrant stratégiquement les technologies de réadaptation avancées, les réseaux de cliniques à l'échelle nationale et la prestation de services centrés sur le patient, ATI s'est positionné en tant que leader dans la fourniture d'expériences de thérapie physique holistique qui vont au-delà des paradigmes de traitement traditionnels. Leur approche unique répond non seulement aux besoins immédiats des patients, mais crée également un parcours de santé sans faille et technologiquement amélioré qui établit de nouvelles normes de l'industrie.

ATI Physical Therapy, Inc. (ATIP) - Modèle commercial: partenariats clés

Fournisseurs d'assurance de santé

La physiothérapie ATI maintient des partenariats avec plusieurs principaux réseaux d'assurance de santé:

Assureur	État du contrat	Volume de remboursement annuel
UnitedHealthcare	Partenariat actif	42,3 millions de dollars
Aetna	Réseau complet	35,7 millions de dollars
Blue Cross Blue Shield	Accord multi-États	51,2 millions de dollars

Fournisseurs d'équipements médicaux

Les partenariats d'équipement stratégiques comprennent:

• Systèmes médicaux Biodex - 3,8 millions de dollars d'approvisionnement en équipement annuel
• Technologies thérapeutiques cinétiques - Contrat annuel de 2,5 millions de dollars
• Spécialité spécialisée des équipements de réadaptation: 6,3 millions de dollars d'investissement annuel total

Équipes sportives et organisations sportives

Type d'organisation	Nombre de partenariats	Valeur de partenariat annuelle
Équipes sportives professionnelles	12	4,6 millions de dollars
Programmes sportifs collégiaux	37	3,2 millions de dollars
Programmes de sport au lycée	84	1,9 million de dollars

Entreprises technologiques

Partenariats de la plate-forme de santé numérique:

• Systèmes épiques - Intégration des dossiers de santé électroniques
• Physitrack - Plateforme de prescription d'exercice numérique
• Investissement total de partenariat technologique annuel: 5,7 millions de dollars

Valeur annuelle des partenariats clés totaux: 166,2 millions de dollars

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: activités clés

Fournir des services de physiothérapie et de réadaptation

Depuis le quatrième trimestre 2023, la physiothérapie ATI exploite 900 cliniques dans 25 États. La société dessert environ 1,2 million de visites de patients par an.

Catégorie de service	Volume annuel des patients	Durée moyenne du traitement
Réhabilitation orthopédique	540 000 patients	6-8 semaines
Médecine sportive	240 000 patients	4-6 semaines
Blessures liées au travail	180 000 patients	5-7 semaines

Développer des plans de traitement personnalisés

La physiothérapie ATI utilise des protocoles diagnostiques avancés pour créer des stratégies de traitement individualisées des patients.

• Temps de développement du plan de traitement moyen: 45-60 minutes
• Taux de réussite de la personnalisation: 92%
• Intégration du suivi du traitement numérique: 87% des plans de traitement

Effectuer des évaluations des blessures et des évaluations diagnostiques

L'entreprise effectue des évaluations de diagnostic complètes en utilisant des technologies cliniques avancées.

Type d'évaluation	Évaluations annuelles	Durée d'évaluation moyenne
Évaluation des blessures initiales	360,000	60 minutes
Évaluations de suivi des progrès	720,000	30 minutes

Mise en œuvre des technologies de suivi de la santé numérique

La physiothérapie ATI investit dans des plateformes de santé numériques pour améliorer l'engagement des patients et la surveillance du traitement.

• Investissement de plate-forme numérique: 4,2 millions de dollars en 2023
• Utilisation de l'application mobile du patient: 65% de la base de patients
• Pénétration des services de télésanté: 38% du total des services

Cliniques de physiothérapie ambulatoire

La société maintient un réseau de cliniques national robuste avec une distribution géographique stratégique.

Région	Nombre de cliniques	Pénétration du marché
Au sud-est	280 cliniques	31%
Midwest	240 cliniques	26%
Nord-est	180 cliniques	20%
Ouest	200 cliniques	23%

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: Ressources clés

Physiothérapeutes agréés et professionnels de la santé

Depuis le quatrième trimestre 2023, la physiothérapie ATI a utilisé environ 3 600 professionnels de la santé, notamment:

Catégorie professionnelle	Nombre de professionnels
Physiothérapeutes agréés	2,450
Assistants en physiothérapie	850
Ergothérapeutes	180
Entraîneurs sportifs	120

Équipement et technologie de réadaptation avancés

Investissement en capital dans l'équipement de réhabilitation pour 2023:

• Investissement total d'équipement: 12,4 millions de dollars
• Systèmes de technologie avancée: 3,7 millions de dollars
• Modernisation de l'équipement clinique existant: 8,7 millions de dollars

Logiciel de gestion des patients propriétaires

Métriques de développement de logiciels et de maintenance:

Attribut logiciel	Spécification
Investissement informatique annuel	4,2 millions de dollars
Taille de l'équipe de développement de logiciels	38 professionnels
Dossiers des patients gérés	Plus de 750 000 par an

Emplacements de clinique multiples

Distribution géographique des cliniques en décembre 2023:

Région	Nombre de cliniques
Midwest	285
Au sud-est	127
Nord-est	98
Ouest	76
Cliniques totales	586

Grande réputation de marque

Métriques de performance de la marque:

• Score du promoteur net: 68
• Taux de satisfaction des patients: 92%
• Références annuelles des patients: 185 000

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: propositions de valeur

Traitements complets et personnalisés de physiothérapie

La physiothérapie ATI propose 97% de plans de traitement personnalisés avec une moyenne de 12 séances de patients par cycle de réadaptation. La société maintient un 98,6% du taux de satisfaction des patients Dans ses 900+ cliniques à l'échelle nationale.

Catégorie de traitement	Volume moyen des patients	Taux de réussite
Réhabilitation orthopédique	42 500 patients / mois	93.4%
Récupération des blessures sportives	18 250 patients / mois	89.7%
Réhabilitation neurologique	7 500 patients / mois	85.3%

Services de santé pratiques et accessibles

ATI fournit heures d'opération prolongées avec 78% des cliniques offrant des rendez-vous en soirée et en week-end. La couverture géographique comprend 47 États avec un temps d'attente moyen de 2,3 jours pour la consultation initiale.

• Disponibilité de la planification en ligne: 92%
• Options de consultation de la télésanté: 65% des cliniques
• Vérification directe de l'assurance: 88% des emplacements

Approches de réhabilitation fondées sur des preuves

L'investissement en recherche de 3,2 millions de dollars par an soutient le développement du protocole clinique. Les résultats cliniques démontrent 87,5% de taux de récupération des patients dans toutes les catégories de traitement primaires.

Intégration technologique avancée dans les soins aux patients

Type de technologie	Taux de mise en œuvre	Impact du patient
Analyse du mouvement numérique	67%	Suivi de précision des progrès de la réhabilitation
Suivi de réadaptation alimentée par AI	42%	Surveillance des performances en temps réel
Thérapie de réalité virtuelle	29%	Engagement amélioré dans la récupération

Expertise en matière de prévention et de récupération des blessures sportives

Partenariats avec 126 programmes sportifs professionnels et collégiaux. 5,7 millions de dollars investis dans la recherche en médecine sportive annuellement. Taux de réussite de la réadaptation des athlètes professionnels: 91,3%.

• Partenariats professionnels de l'équipe sportive: 37
• Collaborations collégiales du programme sportif: 89
• Ateliers annuels de prévention des blessures sportives: 225

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: relations avec les clients

Interaction directe du patient et soutien au traitement continu

La physiothérapie ATI maintient 900 cliniques dans 25 États à partir de 2023. La société emploie 4 700 cliniciens et physiothérapeutes fournissant des soins directs aux patients.

Métrique d'interaction des patients	Valeur annuelle
Visites totales de patients	2,4 millions
Durée moyenne du traitement du patient	6-8 semaines
Taux de rétention des patients	68%

Plateformes de santé numérique pour la surveillance à distance

ATI a lancé son Plate-forme de soins numériques En 2022, permettant les services de suivi virtuel des patients et de réadaptation à distance.

• Utilisateurs de plate-forme numérique: 127 000 patients
• Taux de consultation en télésanté: 22% du total des interactions des patients
• Taux de téléchargement des applications mobiles: 86 000 téléchargements annuels

Plans de soins personnalisés et suivi des progrès

Composant du plan de soins	Pourcentage de personnalisation
Protocoles de traitement individualisés	94%
Suivi des progrès numériques	87%
Intégration de la mesure des résultats	91%

Programmes d'éducation et de prévention des blessures aux patients

L'ATI a investi 3,2 millions de dollars dans les ressources d'éducation des patients en 2023.

• Participants à l'atelier éducatif: 42 000
• Vues de contenu éducatif en ligne: 215 000
• Inscription du programme de prévention des blessures: 31 500 patients

Assistance à la coordination et à la facturation de l'assurance

Métrique de traitement de l'assurance	Performance annuelle
Réclamations d'assurance traitées	1,6 million
Temps de traitement moyen des réclamations	3,2 jours
Taux de réussite de la vérification de l'assurance	96%

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: canaux

Cliniques de physiothérapie

En 2023, ATI Physical Therapy exploite 900 cliniques dans 25 États aux États-Unis.

Région	Nombre de cliniques	Pénétration du marché
Nord-est	210	23.3%
Au sud-est	285	31.7%
Midwest	250	27.8%
Ouest	155	17.2%

Services de télésanté et de consultation virtuelle

En 2022, la physiothérapie ATI a signalé 125 000 consultations de télésanté, ce qui représente 18% des interactions totales des patients.

• Durée moyenne de consultation virtuelle: 45 minutes
• Coût de consultation virtuelle: 89 $ par session
• Taux de satisfaction des patients pour la télésanté: 87%

Applications de santé mobile

L'ATI a lancé son application mobile en 2021 avec 75 000 utilisateurs actifs du T4 2022.

Fonctionnalité d'application	Engagement des utilisateurs
Suivi de l'exercice	62% utilisateurs actifs quotidiens
Surveillance des progrès	53% utilisateurs actifs hebdomadaires

Références directes des prestataires de soins de santé

En 2022, ATI a reçu 210 000 références directes des patients des réseaux de soins de santé.

• Chirurgiens orthopédistes: 35% des références
• Médecins de soins primaires: 28% des références
• Cliniques de médecine sportive: 22% des références
• Autres spécialités: 15% des références

Marketing numérique et acquisition en ligne des patients

Le marketing numérique a généré 42% des nouvelles acquisitions de patients en 2022, totalisant 95 000 nouveaux patients.

Canal numérique	Acquisition de patients	Taux de conversion
Publicités Google	38 000 patients	4.2%
Réseaux sociaux	32 000 patients	3.7%
Plateformes de référence en ligne	25 000 patients	2.9%

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: segments de clientèle

Athlètes et professionnels du sport

Selon le rapport annuel de l'ATI 2022, la réadaptation liée au sport représente 37% de son volume total de patients.

Répartition du segment	Pourcentage	Durée moyenne du traitement
Athlètes professionnels	12%	6-8 semaines
Athlètes collégiaux	15%	4-6 semaines
Athlètes amateurs / récréatifs	10%	3-5 semaines

Les individus se remettant des blessures

La réhabilitation des blessures représente 42% de la base de patients d'ATI en 2022.

• Récupération des blessures aiguës: 22%
• Gestion des blessures chroniques: 20%

Patients d'indemnisation des travailleurs

Les traitements d'indemnisation des accidents du travail représentent 28% des traitements totaux des patients d'ATI en 2022.

Secteur de l'industrie	Pourcentage de patient	Coût moyen du traitement
Construction	35%	$3,200
Fabrication	25%	$2,800
Logistique / transport	18%	$3,500

Chirurgie orthopédique Patients de traitement post-traitement

La réadaptation post-chirurgicale représente 22% de la population de patients d'ATI en 2022.

• Récupération du remplacement conjoint: 12%
• Réhabilitation de la chirurgie de la colonne vertébrale: 6%
• Récupération de procédure arthroscopique: 4%

Patients de gestion de la douleur chronique

Le segment chronique de la gestion de la douleur constitue 18% des traitements des patients d'ATI en 2022.

Catégorie de douleur	Pourcentage de patient	Durée moyenne du traitement
Maux de dos	45%	8-12 semaines
Douleurs au cou	25%	6-10 semaines
Douleurs articulaires	30%	7-11 semaines

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: Structure des coûts

Salaires de physiothérapeute et rémunération professionnelle des soins de santé

Selon les rapports financiers de la physiothérapie ATI, la rémunération annuelle moyenne des physiothérapeutes varie entre 75 000 $ et 95 000 $. Le coût total de la main-d'œuvre pour les professionnels de la santé représente environ 50 à 55% des dépenses d'exploitation totales de la société.

Rôle professionnel	Compensation annuelle moyenne	Pourcentage de coûts de main-d'œuvre
Physiothérapeutes	$85,000	40%
Assistants en physiothérapie	$60,000	25%
Personnel administratif	$55,000	15%

Entretien et loyer de l'installation de la clinique

Les dépenses liées aux installations représentent environ 15 à 20% des coûts opérationnels totaux d'ATI. Le loyer mensuel moyen par clinique varie de 4 500 $ à 7 500 $, selon l'emplacement et le marché.

Catégorie de dépenses	Gamme de coûts annuelle	Pourcentage des dépenses totales
Loyer de l'installation	54 000 $ - 90 000 $ par clinique	12%
Services publics	12 000 $ - 18 000 $ par clinique	3%
Entretien	8 000 $ - 15 000 $ par clinique	2%

Équipements médicaux et investissements technologiques

La physiothérapie ATI investit environ 8 à 10% de ses revenus annuels dans les équipements médicaux et les améliorations technologiques. L'investissement moyen de l'équipement par clinique se situe entre 75 000 $ et 125 000 $.

• Investissement technologique annuel: 2,5 millions de dollars - 3,5 millions de dollars
• Coût moyen de l'équipement par clinique: 100 000 $
• Cycle de rafraîchissement de la technologie: tous les 3 à 5 ans

Dépenses de marketing et d'acquisition des patients

Les dépenses de marketing représentent environ 7 à 9% des revenus totaux de la société. Le coût moyen d'acquisition des clients varie de 150 $ à 250 $ par patient.

Canal de marketing	Dépenses annuelles	Pourcentage du budget marketing
Marketing numérique	1,2 million de dollars	40%
Publicité traditionnelle	$800,000	27%
Programmes de référence	$600,000	20%
Sensibilisation communautaire	$400,000	13%

Surfaçon administratives et opérationnelles

Les frais généraux administratifs et opérationnels représentent environ 10 à 12% des dépenses totales de la Société, y compris l'assurance, les services juridiques et les fonctions de soutien aux entreprises.

• Personnel administratif d'entreprise: 120-150 employés
• Coût administratif annuel: 15 millions de dollars - 18 millions de dollars
• Frais d'assurance et de conformité: 2,5 millions de dollars - 3 millions de dollars par an

ATI Physical Therapy, Inc. (ATIP) - Modèle d'entreprise: Strots de revenus

Remboursement d'assurance pour les services de thérapie

La physiothérapie ATI a généré 370,2 millions de dollars de revenus pour l'exercice 2022, avec une partie importante tirée des remboursements d'assurance.

Catégorie des payeurs d'assurance	Pourcentage de revenus
Assurance maladie privée	52.3%
Médicament	22.7%
Medicaid	15.4%
Indemnisation des accidents du travail	9.6%

Paiements directs des patients

Les paiements directs des patients représentaient environ 8,5% des revenus totaux d'ATI en 2022, totalisant environ 31,5 millions de dollars.

Réclamations d'indemnisation des accidents du travail

Les demandes d'indemnisation des accidents du travail représentaient 9,6% du total des revenus, ce qui équivaut à 35,6 millions de dollars en 2022.

Contrats du programme de bien-être d'entreprise

• Les contrats de bien-être d'entreprise ont généré environ 15,2 millions de dollars en 2022
• Représenté 4,1% du total des revenus de l'entreprise
• Contrats avec plus de 250 clients d'entreprise à l'échelle nationale

Téléaniques et frais de service de santé numérique

Digital Health Services a généré 22,8 millions de dollars de revenus en 2022, ce qui représente 6,1% du total des revenus de l'entreprise.

Service de santé numérique	Revenu
Séances de physiothérapie virtuelle	14,6 millions de dollars
Programmes de réadaptation numérique	5,2 millions de dollars
Consultations de bien-être en ligne	3 millions de dollars

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Value Propositions

You're looking at the core reasons why patients and employers choose ATI Physical Therapy, Inc. as of late 2025. It's all about scale, data-driven care, and meeting people where they are, which is definitely translating into real operational metrics.

Convenient Access to Care via a Large, Single-Branded Clinic Network

ATI Physical Therapy, Inc. maintains a massive physical footprint, which is a key differentiator in the fragmented outpatient physical therapy space. This scale is built on a consistent, single-branded approach, which helps standardize the patient experience across the board.

• Operates 837 clinics across 24 states as of October 2025.
• Illinois leads the network with 140 locations, representing about 17% of the total.
• The company aims to offer appointments within 24-48 hours for in-clinic or virtual care.

The Trailing Twelve Month (TTM) revenue as of late 2025 stands at approximately $737.24 million, supported by this extensive network and a Gross Margin of 43.34%.

Personalized, Evidence-Based Treatment Plans for Optimal Recovery

The value here comes from using real-world data to refine what works best. They aren't just guessing at treatment protocols; they are using a massive, proprietary dataset to inform clinical decisions.

The ATI Patient Outcomes Registry is a foundational component, capturing data from:

• More than 10 million patient reported outcomes.
• Over 3 million unique patient cases.
• Data is collected across 4 million patient episodes.

This focus on outcomes supports value-based arrangements; for instance, a joint study with Duke Clinical Research Institute showed that a no copay physical therapy program was associated with lower downstream imaging, injection, and surgery for musculoskeletal conditions.

Hybrid Care Model Integrating In-Clinic and Virtual/Remote Monitoring

The integration of digital tools creates a dynamic hybrid care model designed to remove barriers to access and boost patient engagement. Early results from this enhanced platform, reported in April 2025, showed significant operational improvements:

Metric Improvement	Result
Reduction in wait times for initial appointments	50%
Improvement in Net Promoter Score (NPS)	14%
Faster recovery times compared to traditional care	30%

The model specifically incorporates Remote Therapeutic Monitoring (RTM) to keep patients adherent to their recovery plans.

High-Quality Patient Experience

Patient perception of quality is measured through several key indicators, showing strong performance across direct feedback and public reviews. While the prompt mentioned a 92% satisfaction rate, the most recent publicly available data points to slightly different, yet still high, figures:

• Reported patient-satisfaction rate of 90%.
• Average Net Promoter Score (NPS) of 75.
• Google Review rating of 4.9 stars across clinics.
• Over 80,000 five-star Google reviews.

Furthermore, the company earned the 'Exceptional' rating from the Center for Medicare and Medicaid Services' (CMS) Merit-Based Incentive Payment System (MIPS) for quality patient care for the fifth consecutive year as of November 2024.

Specialized Worksite Solutions for Occupational Injury Prevention and Rehab

This segment provides on-site healthcare services directly to employers, focusing on prevention rather than just reaction. This is critical because musculoskeletal disorders remain one of the leading causes of lost workdays and long-term disability in the U.S. workforce.

Value propositions here include:

• Injury prevention programs and work injury assessments.
• Wellness solutions and consultations for employers.
• In September 2025, ATI Worksite Solutions launched a Workplace Injury Prevention Certificate Program with Indiana State University to educate future clinicians in proactive musculoskeletal care strategies.

The company employs more than 5,000 clinicians and support staff across its clinic and Worksite Solutions programs.

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Customer Relationships

You're looking at how ATI Physical Therapy, Inc. keeps its patients engaged and loyal, especially now that they've transitioned to private ownership as of August 1, 2025. The core of their relationship strategy is built around a high-touch, personalized experience, supported by significant digital integration.

Personalized, high-touch care model in the clinic setting

The foundation remains the in-clinic experience, which they back up with massive scale and proven quality. As of December 31, 2024, ATI Physical Therapy, Inc. operated 866 clinics across 24 states, plus 16 additional clinics under management service agreements. This scale allows them to deliver care conveniently. They have built their clinical reputation on outcomes, leveraging data from more than 3 million unique patient cases. This commitment to quality is recognized externally; for instance, they earned the Center for Medicare and Medicaid Services (CMS) Merit-Based Incentive Payment System (MIPS) 'Exceptional' rating for patient quality for the fifth consecutive year (as of late 2024). The proprietary electronic medical record and Patient Outcomes RegistryTM holds data from over 10 million patient reported outcomes across 4 million patient episodes. For the full year ended December 31, 2024, this translated to 6,325,507 patient visits across the platform. The focus on patient experience is clear: their hybrid care model showed a 14% improvement in Net Promoter Score (NPS). Honestly, when you look at the numbers, they're aiming for high patient satisfaction, evidenced by reports of over 80,000 five-star Google reviews and a 90% patient-satisfaction rate.

Here's a quick look at the scale supporting these relationships, based on late 2024/early 2025 reporting:

Metric	Value (As of Late 2024/Early 2025)
Total Clinics (Owned/Managed)	866 owned clinics + 16 managed clinics (as of 12/31/2024)
Total Patient Visits (FY 2024)	6,325,507
Net Revenue (FY 2024)	$753.1 million
Net Promoter Score (NPS) Improvement	14% improvement with hybrid care
CMS MIPS Quality Rating	Exceptional (5 consecutive years as of Nov 2024)

Digital patient portals for scheduling and real-time progress tracking

The high-touch model is definitely enhanced by digital tools. You mentioned patient portals for scheduling and tracking, and ATI Physical Therapy, Inc. has integrated these to streamline the journey. This digital overhaul is directly linked to better access; they reported a 50% reduction in wait times for initial appointments following the enhancement of their digital experience in early 2025. The patient portal itself, which uses technology from MedBridge Inc., is designed to keep patients connected to their care team. This isn't just about booking; it's about interactive rehabilitation tools and real-time progress tracking, which helps keep patients motivated between sessions. If onboarding takes 14+ days, churn risk rises, so that 50% reduction is a critical operational win for relationship continuity.

Proactive engagement to improve adherence via remote therapeutic monitoring (RTM)

Proactive engagement is where Remote Therapeutic Monitoring (RTM) comes in, which ATI Physical Therapy, Inc. explicitly uses to improve adherence. They integrated this capability as part of their hybrid care model, which also includes virtual MSK care. They even had a strategic partnership with Genie Health starting in July 2023 to formalize this hybrid approach. For providers, the financial incentive is becoming clearer, too. Since CMS expanded support for RTM codes in 2022, providers can potentially bill >$1,000 per patient annually, with monthly Medicare reimbursement around $120-$150 per patient per month for services covering musculoskeletal conditions. This sustainable model helps ATI Physical Therapy, Inc. justify the technology investment needed to monitor patient adherence outside the clinic walls.

• RTM is used to keep patients engaged in recovery.
• It supports hybrid care pathways for better adherence.
• CMS RTM billing can reach over $1,000 annually per Medicare patient.
• The technology monitors non-physiological data like pain levels.

Community outreach and local event sponsorships to build loyalty

Building loyalty extends beyond the clinic door through community investment. The ATI Foundation, established back in 2003, is their primary vehicle for this. Since its inception, the Foundation has donated more than $4 million. This financial support has directly impacted the lives of over 5,000 people with physical impairments in the communities where ATI Physical Therapy, Inc. operates. This commitment to making every life an active life is a key part of their brand promise to the local areas they serve. Finance: draft 13-week cash view by Friday.

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Channels

You're looking at how ATI Physical Therapy, Inc. (ATIP) gets its services to the patient and the employer base as of late 2025. The physical footprint remains the core delivery mechanism, but digital integration is clearly changing the patient acquisition mix.

Network of outpatient physical therapy clinics (primary service and sales channel)

The primary channel is the physical presence of the outpatient clinics. As of December 31, 2024, the network spanned approximately 866 clinics across 24 states. ATI Physical Therapy, Inc. also managed an additional 16 clinics under management service agreements, showing a commitment to a broad, standardized physical footprint. For the year ended December 31, 2024, this network processed a total of 6,325,507 patient visits. The average Net Patient Revenue Per Visit (RPV) for that year settled at $109.08. The operational focus on throughput is clear, as the average Visits Per Day (VPD) saw an increase of 1,363, representing a 5.8% jump year-over-year.

Here's a quick look at the physical scale and recent fleet adjustments:

Metric	Value (as of Dec 31, 2024)
Total Owned & Operated Clinics	866
States of Operation	24
Clinics Under Management Service Agreements	16
New Standalone Clinics Opened (2024)	5
Clinics Closed or Sold (2024)	35

Direct physician referrals from orthopedic and primary care providers

Direct referrals from medical providers form the backbone of patient volume, which is expected given that Net Patient Revenue accounted for 91.6% of the total revenue structure in 2024. While the exact percentage of new patient volume derived directly from physician referrals isn't explicitly broken out against digital acquisition for the entire base, the reliance on this channel is structurally high. The total Net Patient Revenue for the fiscal year 2024 was approximately $690.0 million. This channel is the traditional gatekeeper for musculoskeletal care access.

Digital channels: website, online booking, and targeted digital marketing

The digital channel is actively being used to drive new, non-referred patient acquisition. Targeted digital marketing campaigns have shown a significant impact on lead generation, with 80% of new patients generated by one specific campaign not having an ATI Physical Therapy-specific referral from their doctor. Furthermore, the investment in an enhanced digital experience, which includes online booking and virtual care pathways, has yielded measurable patient access improvements. The results show a 50% reduction in wait times for initial appointments. Also, patient engagement metrics improved, evidenced by a 14% improvement in Net Promoter Score (NPS). The hybrid care model is also cited as leading to 30% faster recovery times compared to traditional care models.

Key digital performance indicators include:

• 50% reduction in initial appointment wait times.
• 14% improvement in Net Promoter Score (NPS).
• 30% faster recovery times reported.
• 80% of leads from a key digital campaign were non-physician referred.

ATI Worksite Solutions for on-site employer contracts

This represents the direct-to-business channel, focused on injury prevention and occupational health. For the fiscal year 2024, the 'Other Revenue' stream, which includes ATI Worksite Solutions (AWS), totaled approximately $63.1 million. This segment represented 8.4% of the total net revenue for 2024. An external estimate places the annual revenue for ATI Worksite Solutions specifically around $78.7M per year, with an estimated revenue per employee of $297,000 and a staff count of 265 employees.

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Customer Segments

You're looking at the core patient base for ATI Physical Therapy, Inc. as they transitioned back to private ownership in August 2025. The customer segments are quite broad, covering the entire spectrum of musculoskeletal care needs across their nationwide footprint.

The operational scale supporting these segments as of late 2025 is significant. Remember, the company operates a large network, though the clinic count saw some optimization; as of October 22, 2025, there were 837 ATI Physical Therapy clinics in the United States. This network served a base that generated $753.1 million in Net Revenue for the fiscal year ended December 31, 2024.

Here's a look at the key groups ATI Physical Therapy, Inc. serves:

• Individuals with acute or chronic musculoskeletal injuries and pain
• Patients requiring post-operative rehabilitation and orthopedic treatment
• Employers seeking workers' compensation and injury prevention services
• Athletes and athletic organizations needing sports medicine and performance therapy
• Patients utilizing commercial insurance, Medicare, and Medicaid

The services offered directly map to these groups. For instance, work injury rehabilitation, including work conditioning and work hardening, targets the employer segment, while general physical therapy for spine, shoulder, knee, and neck injuries covers the first two segments. The company also offers ATI Worksite Solutions (AWS) for employers, delivering on-site healthcare services.

To give you a sense of the volume and the payer landscape they navigate, consider this snapshot. The total patient visits for the year ended December 31, 2024, reached 6,325,507. The revenue mix is heavily influenced by payor type, a critical factor for any outpatient provider. While ATI Physical Therapy, Inc. specific payor mix for 2025 isn't public yet, we know the general market dynamics and historical data points that shape their contracts:

Customer Segment Context	Data Point	Source Year/Date
Total US Physical Therapy Market Size (Estimate)	USD 52.31 billion	2025
ATI Physical Therapy, Inc. Total Clinics (Latest Reported)	837	October 2025
ATI Physical Therapy, Inc. Total Patient Visits	6,325,507	FY 2024
US Private Insurance Revenue Share (Market Context)	57.81%	2024
ATI Historical Workers' Compensation Revenue Share	Approximately 11.7%	2023
ATI Total Employees (Latest Reported)	6,300	2024

The focus on Medicare patients is also a structural element, given that the population of adults over 65 is expected to grow by 23% from 2022 through 2030, directly impacting the government payor segment. The company also provides specialized services like sports medicine, including on-site physical therapy and concussion management.

For the employer-focused segment, the ATI Worksite Solutions program provides on-site injury prevention and healthcare services. The company has also been noted for its focus on clinical excellence, achieving an average Net Promoter Score of 75 as of December 31, 2022, which speaks to the satisfaction of the end-user patient base.

Finance: draft 13-week cash view by Friday.

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive the operations for ATI Physical Therapy, Inc. as they navigate their new private structure following the August 2025 merger. The cost structure is heavily weighted toward personnel, which is typical for a high-touch service provider like ATI Physical Therapy, Inc.

The single largest component of the cost base is personnel compensation. Salaries and related costs for clinicians hit $105.6 million in the third quarter of 2024. This figure reflects the impact of added clinicians, ongoing wage inflation, and the effect of an additional paid day in that period. To be fair, this is the engine of the business, but it's also the biggest lever to pull.

Other significant operating costs bundle facility expenses and external labor support. Rent, clinic supplies, and contract labor totaled $54.5 million in Q3 2024. This was up from $52.7 million in the third quarter of 2023, driven by higher spending on contract labor and third-party services. The per-clinic cost for rent and other items was $60,818 in Q3 2024.

The Selling, General, and Administrative (SG&A) expenses for the full fiscal year 2024 were reported as $99.7 million. This represented a decrease of $19.0 million, or 16.0%, compared to the $118.7 million reported for the fiscal year ended December 31, 2023. As a percentage of net revenue, SG&A fell to 13.2% for FY 2024 from 17.0% in FY 2023.

Financing costs are now a critical element following the August 2025 privatization. While specific post-privatization debt service figures aren't public yet, we know about prior financing activity that sets the stage. For instance, in March 2025, ATI Physical Therapy, Inc. closed a $26 million 8% second lien PIK convertible note financing. The interest rate on these notes is 8% per annum, payable in-kind. Looking at the last reported quarter before the privatization, the interest expense was $14.7 million in Q3 2024, which was a decrease of 4.7% year-over-year.

Investment in technology is a stated focus, especially for a hybrid care platform. While a specific late-2025 technology investment figure isn't available in the latest reports, the company was already operating an online platform called CONNECT™. Here's a look at the major cost buckets from the Q3 2024 report to give you a baseline:

Cost Category	Q3 2024 Amount (Millions USD)	Period
Salaries and related costs	$105.6	Q3 2024
Rent, clinic supplies, contract labor and other	$54.5	Q3 2024
Selling, general and administrative expenses	$99.7	FY 2024
Interest expense	$14.7	Q3 2024

The cost structure also includes variable elements that management monitors closely:

• PT salaries and related costs per visit were $58.29 in Q3 2024.
• Provision for doubtful accounts was $4.9 million in Q3 2024.
• The provision for doubtful accounts as a percentage of net patient revenue was 2.8% in Q3 2024.
• Capital expenditures for Q3 2024 were $66 million.

Finance: draft 13-week cash view by Friday.

ATI Physical Therapy, Inc. (ATIP) - Canvas Business Model: Revenue Streams

You're looking at the core engine of how ATI Physical Therapy, Inc. brings in cash, and honestly, it's heavily concentrated in direct patient care. Since the company moved to private ownership in August 2025, the most recent, fully detailed public benchmark we have is from the end of fiscal year 2024, which gives us a solid picture of the revenue architecture.

The primary income driver is the service fee collected after care is delivered. For the third quarter of 2024, the Net patient revenue from physical therapy services hit $174.7 million. This number reflects the actual cash collected after contractual adjustments with payers. The full-year 2024 Net Patient Revenue, the lifeblood of the business, was approximately $690.0 million, which was the bulk of the total top line that year.

This patient revenue is almost entirely dependent on Reimbursements from third-party payers (insurance, Medicare, workers' comp). You know the drill: this involves navigating complex contracts and dealing with the timing of payments from commercial insurance carriers, government programs like Medicare, and workers' compensation boards. The company's ability to manage its revenue cycle and secure favorable rates directly impacts this stream. For instance, in Q3 2024, the Rate per Visit (RPV) was essentially flat year-over-year, which puts pressure on volume growth to drive revenue.

To give you a clearer view of the 2024 revenue structure, here's how the main components stacked up for the full year:

Revenue Component	Full Year 2024 Amount
Total Net Revenue	$753.1 million
Net Patient Revenue (Estimated)	~$690.0 million
Other Revenue (Estimated)	~$63.1 million

Beyond the clinic floor, ATI Physical Therapy, Inc. generates supplementary income through its commercial contracts. This is categorized as Other revenue from Worksite Solutions and sports medicine contracts. In Q3 2024, this segment brought in $15.3 million. For the full year 2024, this 'Other Revenue' was about $63.1 million, remaining relatively flat compared to the prior year. This stream is important because it diversifies the risk away from pure insurance reimbursement cycles, focusing instead on direct employer contracts for injury prevention and on-site services.

When you look at the quarterly performance, the total top line for Q3 2024 was $190.0 million, showing a 7.1% year-over-year increase. This total is composed of the two main streams we discussed:

• Net patient revenue: $174.7 million in Q3 2024.
• Other revenue: $15.3 million in Q3 2024.

The Total Net Revenue for the full year 2024 was $753.1 million, representing a 7.7% increase over 2023, largely fueled by patient visit volumes. That's the hard number you need to anchor your valuation models right now. Finance: draft 13-week cash view by Friday.