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Physiotherapy education is a good financial investment, up to a certain level of student debt: an inter-professional economic analysis  Richard K Shields,

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Presentation on theme: "Physiotherapy education is a good financial investment, up to a certain level of student debt: an inter-professional economic analysis  Richard K Shields,"— Presentation transcript:

1 Physiotherapy education is a good financial investment, up to a certain level of student debt: an inter-professional economic analysis  Richard K Shields, Shauna Dudley-Javoroski  Journal of Physiotherapy  Volume 64, Issue 3, Pages (July 2018) DOI: /j.jphys Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

2 Figure 1 Entry-level wages reported in the American Physical Therapy Association member surveys compared to estimates from the Bureau of Labor Statistics 25th and 10th percentiles. Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

3 Figure 2 Historical entry-level salaries (Bureau of Labor Statistics 25th percentile) for professions within $15000 of physical therapists’ entry-level salaries. Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

4 Figure 3 Salary compound annual growth rate (CAGR) for healthcare professions between 2007 and 2016, versus the compound annual inflation rate (white bar). Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

5 Figure 4 Salary change for healthcare professions between 2007 and 2016. Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

6 Figure 5 Mean (SE) total cost of the Doctor of Physical Therapy degree (tuition and fees) reported to the Commission on Accreditation in Physical Therapy Education,45 (according to their categories of institution type and tuition rate) and entry-level salaries between 2007 and 2016. Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

7 Figure 6 Compound annual growth rate (CAGR) for the cost of the Doctor of Physical Therapy degree versus CAGR for entry-level salaries between 2007 and 2016. Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions

8 Figure 7 Present value analysis of physiotherapy graduates at several hypothetical levels of debt compared to other healthcare professions, modelled with a more conservative (a) and less conservative (b) discount rate. PT=physical therapy. a Internal medicine 2007 to 2016 salary growth was negative (see Figure 3), which yielded salary decline, not growth in the model. Salary growth for the closest physician specialty (obstetrics/gynaecology) was substituted (compound annual growth rate=1.42%). b 2007 to 2016 salary growth for chiropractic and dentistry was less than half the rate of inflation (see Figure 3). The striped bars depict modelled present value for these fields if future salary growth should equal inflation (compound annual growth rate=1.54%). Journal of Physiotherapy  , DOI: ( /j.jphys ) Copyright © 2018 Australian Physiotherapy Association Terms and Conditions


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