CHICAGO, IL, July 27, 2017 – Chicago-based Integrated Rehab Consultants (IRC) has grown its gross revenue from $63,000 since its inception in 2010 to more than $21 million in just six years by providing physicians for rehab oversight to improve patient care and significantly reduce cost for patients and insurers. IRC achieved profitability in its first year and each subsequent year while self-funding its own growth at an exponential pace:
IRC is on track for gross revenue of $25 million for the year ending December 31, 2017.
Starting with just one physiatrist (rehabilitation physician) in Chicago in 2010, IRC now supplies 100+ physicians to 350+ high quality Skilled Nursing Facilities (SNFs) in 22 states coast-to-coast and CEO Amish Patel, DO, has his sights set even higher.
“Integrated Rehab Consultants’ growth has been totally self-funded to date,” Dr. Patel noted. “However, we see a tremendous opportunity for additional growth and expansion into psychiatry using a similar business model.”
IRC has grown rapidly by filling a critical need in health care today. Increasingly, especially among older adults, insurance providers (including Medicare) are discharging patients needing short-term rehabilitation after a stroke or orthopedic surgery, such as a knee replacement, to SNFs, rather than more costly inpatient rehab facilities. (According to MedPAC, the average stroke patient stay in a SNF costs $8,905, as opposed to $34,196 in an inpatient rehab facility.)
However, many SNFs do not have the resources to properly care for these new patients. By partnering with IRC, they gain a dedicated physiatrist to manage their care. The physicians’ fees are covered by Medicare or other insurance.
A recent study showed that patients under the care of an IRC physiatrist get home sooner. According to the Coker Group (2015), SNFs with an IRC physiatrist lowered their average patient length of stay by 11 percent. This means those facilities are able to free up beds for more acute patients.
For more information, call 312-635-0973.