For 5th Consecutive Year, ATI Physical Therapy Achieves 'Exceptional' Rating In Patient Quality from the Center For Medicare and Medicaid Services (MIPS)

Rhea-AI Summary

ATI Physical Therapy (ATIP) has achieved an 'Exceptional' rating from the Center for Medicare and Medicaid Services' (CMS) Merit-Based Incentive Payment System (MIPS) for the fifth consecutive year since the program's inception in 2019. The company leveraged its proprietary electronic medical record and Patient Outcomes Registry™, which contains over 10 million patient reported outcomes across 4 million patient episodes. This recognition makes providers eligible for CMS reimbursement rate bonuses, helping offset continuing rate reductions. ATI, the largest single-branded outpatient physical therapy provider in the U.S., operates 900 locations across 24 states, offering comprehensive physical therapy services including virtual and workplace safety solutions.

Positive

• Achieved 'Exceptional' MIPS rating for 5 consecutive years
• Eligibility for CMS reimbursement rate bonuses
• Large-scale operations with 900 locations across 24 states
• Extensive patient data with 10M+ reported outcomes across 4M patient episodes

Negative

• Continuing CMS rate reductions for physical therapy services

Insights

Healthcare Operations Analyst

This MIPS rating achievement, while positive for ATI's reputation, has financial impact. The "Exceptional" rating provides only a modest CMS reimbursement bonus that partially offsets ongoing rate reductions. With ATI's $12.1M market cap and challenging financial position, this operational achievement doesn't materially change their financial outlook.

The company's extensive data infrastructure with 10 million patient outcomes is impressive, but hasn't translated into significant competitive advantages or profitability. While the rating may help maintain Medicare patient volume, it's insufficient to overcome broader industry headwinds like labor costs and reimbursement pressures facing outpatient PT providers.

The Achievement Continues the Company's Streak in Earning the Rating Annually Since the Program Debuted in 2019

BOLINGBROOK, Ill., Nov. 13, 2024 /PRNewswire/ -- ATI Physical Therapy ("ATI" or the "Company") today has again earned the "Exceptional" rating from the Center for Medicare and Medicaid Services' (CMS) Merit-Based Incentive Payment System (MIPS) for quality patient care. ATI received the exceptional rating for the fifth consecutive year, every year since the program's inception for physical therapy providers.

As part of this process, ATI, the nation's largest single-branded outpatient physical therapy provider, leveraged its proprietary electronic medical record and Patient Outcomes RegistryTM comprised of more than 10 million patient reported outcomes across 4 million patient episodes and 3 million unique patients. These foundational components are core to ATI's commitment to improve quality care improvement and health outcomes while reducing the overall cost of healthcare.

"This annual recognition is a testament to our exceptional team of clinicians and the work they do daily. Physical therapy plays a critical role in the musculoskeletal health ecosystem (MSK), and we will continue to promote the value it has in helping our patients live pain-free lives," said Charles Thigpen, Senior Vice President for Clinical Excellence, ATI Physical Therapy. "Levering our outcomes, experience, and single-branded platform, we strive to deliver differentiated care that reduces the cost of MSK as well as unnecessary opioids, imaging or surgery."

The MIPS recognition is used to determine if the provider is eligible for a bonus to CMS reimbursement rates that providers receive for their services, which in turn impacts the location and scope of services available to patients. This recognition is important to partially offset the impact of continuing rate reduction, as also determined by CMS for physical therapy services.

With a focus on delivering high-quality care, ATI Physical Therapy strives to improve patients' quality of life through comprehensive treatment plans and personalized care. ATI Physical Therapy offers convenient hours and easy booking through ATI's website for a variety of services, including physical therapy, sports medicine PT, women's health PT, hand therapy, worker's comp rehab, specialty therapy services and personalized rehabilitation treatments, tailored to meet the unique needs of each patient. Treatments can be begin immediately without a prescription or medical referral.

For more information about ATI Physical Therapy, please visit www.atipt.com.

ABOUT ATI PHYSICAL THERAPY
ATI Physical Therapy provides nationwide access to high-quality care to prevent and treat musculoskeletal (MSK) disorders in patients, including athletes and employees. With 900 locations across 24 states in the U.S., virtual and hybrid care for individuals and companies, and a robust offering of onsite workplace safety solutions, ATI Physical Therapy is the largest single-branded platform in the country. ATI's quality standards are backed by extensive research and designed to deliver proven, predictable, and impactful patient outcomes. A complete list of care offerings – including preventative services in the workplace, athletic training services, outpatient clinical services and online physical therapy via the ATI CONNECT™ – can be found at ATIpt.com. ATI is based in Bolingbrook, Illinois.

PR CONTACTS 
Michelle Ravelo-Santos  of Garbo Communications  
michelle@garbo.agency  

Jeremy Doucette of ATI Physical Therapy 
jeremy.doucette@atipt.com  

Category: Leadership 

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SOURCE ATI Physical Therapy

FAQ

What rating did ATI Physical Therapy (ATIP) receive from CMS MIPS in 2024?

ATI Physical Therapy received an 'Exceptional' rating from the CMS Merit-Based Incentive Payment System (MIPS) in 2024, marking their fifth consecutive year achieving this rating.

How many patient outcomes does ATI Physical Therapy's (ATIP) Registry contain?

ATI Physical Therapy's Patient Outcomes Registry contains more than 10 million patient reported outcomes across 4 million patient episodes and 3 million unique patients.

How many locations does ATI Physical Therapy (ATIP) currently operate?

ATI Physical Therapy operates 900 locations across 24 states in the United States.