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Biotech / Medical : Novacare (NOV) breaking out...
NOV 16.24-0.9%Dec 15 3:59 PM EST

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To: Jim Oravetz who wrote (387)4/27/1999 12:56:00 PM
From: Jim Oravetz   of 420
 
PHYSICAL THERAPISTS, once heavily recruited, now ask for jobs.

Cuts in therapists' slots result from decreased Medicare reimbursement for outpatient care. Allied Consulting Inc., an Irving, Texas, health-care staffing group, reports its physical-therapy job searches in 41 states plunged to seven in 1998 from 161 in 1997. About 18 months ago, physical therapists were at full employment, says the American Physical Therapy Association. Today, 3% are out of work.

Jobs are moving back to lower-paying hospitals from outpatient centers and nursing homes. Parkland Health and Hospital System, the Dallas county hospital, has no vacant physical-therapist spots for the first time in 17 years. NovaCare Inc., King of Prussia, Pa., the largest provider of contract therapists to nursing homes, plans a cut of up to 35% in its stable of 7,000 therapists by June.

Mike Yuengling, formerly a contract therapist for another agency, looked for seven months before landing full-time work in a rehab center near Philadelphia, at a salary "less than what I expected," he says. "But I'm grateful."
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