Muvement Case Study

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Harvard University *

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Dec 6, 2023

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Market Expansion: Muvement FUSE National Business Program 2021 This case is authored by FUSE Academia for FUSE Society and authorized for use only by participants of the FUSE National Business Program. Copying or reposting is an infringement of copyright. OVERVIEW Dr. Ed Sims, a physical therapist, has always been passionate about fostering a connection with his patients. This became increasingly difficult at the corporate chain he worked for, as the need to streamline processes deterred his ability to provide flexible service. In 2014, Ed established Muvement Therapy in the suburbs of Calgary. He sought out to deliver the individualized patient experience that his decade of work at the chain never enabled. Ed’s mantra is the emphasis on the depth– rather than the breadth– of his impact. He believes in serving a manageable patient pool rather than pursuing scale at the risk of quality. As such, Muvement is the size of any other owner-operated practice, employing three other physical therapists and two physical therapist assistants. SERVICES As a physical therapy practice, Ed’s client base consists mostly of seniors and partly of athletes. For athletes, many physical injuries develop into chronic health problems– physical therapy is one technique of remedy. For seniors experiencing mobility issues, physical therapy can restore and maintain the proper function of the body. From a financial perspective, intervening with physical therapy swiftly after a problem is noticed can prevent the costly treatment required once progressions in the problem create more severe effects. Muvement provides one-on-one sessions of between 30 and 60 minutes, depending on the nature of the problem. Athletic injuries tend to require personalized treatment, while seniors are more likely to suffer from common mobility impediments. Ed and his team set long-term and short-term outcome goals for each client and prescribe self-management exercises to be used beyond their patronage.
INDUSTRY The consolidation of independent practices into healthcare chains will continue to be the theme of the industry. Using mergers and acquisitions to devour owner-operated physical therapy businesses, large chains can be expected to provide a uniform and standardized client experience. Opportunity for practices like Muvement may reside in creating an experience for a small cohort of customers that they can retain through fostering brand loyalty. Pre-covid estimations point to steady expansion for the physical therapy industry, with a projected growth rate of 6.2% through 2023 to $45.7 billion. While growth has remained steady since 2007, COVID has created mixed disruptions. In the short-term, demand for services is constrained by social-distancing restrictions and the industry’s difficulty in transitioning online. Farther ahead, the lingering respiratory effects inflicted upon COVID survivors should create sustaining demand for pulmonary rehabilitation physical therapy. SURVIVAL Of utmost concern to Muvement is COVID’s impact upon client interactions. Physical therapy is a treatment that largely benefits from the physical presence of the practitioner. Pursuant to this, it is an industry that has failed to hitch along the trend of telemedicine. Considering the demographic of most patients, who are older adults lacking proficiency in using technology, shifting physical therapy online may present upfront obstacles. Taking risks with the pandemic’s unpredictable infection trend, and perhaps the government-mandated restrictions caused by it, Muvement could stagger session times to minimize the flow of people within the limit permitted by restrictions. However, devoting resources towards this method of operation would be to neglect the finding of optimal ways to conduct physical therapy online, what might be the only possibility moving forward. The financial sustainability of Muvement is called into question considering the payroll Ed is responsible for. He should be prepared to tackle ethical concerns should the furlough or lay-off of his employees be exercised for the financial continuity of Muvement. Ed should clearly define his strategy of survival– that is, actions with the objective of coping through COVID appropriate to the limited time and resources he has. Then, having adapted to COVID, a game plan for long-term expansion should prove useful to capitalize upon the projected growth of the physical therapy industry.
SUMMARY Pieces are constantly shifting outside of Ed’s control. The convergence of the government’s response to COVID and sweeping changes in the physical therapy industry threatens the existence of Muvement. Amongst the turbulence, some appear as positive drivers to industry growth, while negative growth drivers appear temporary. Ed is faced with the task of surviving past the current circumstances– a precondition to enjoying the projected growth of an industry that has since 2007 been steadily expanding. THE CHALLENGE You are Ed’s consultant. He has hired you at the junction point of his entrepreneurial journey, seeking aid to navigate the uncertainty surrounding Muvement. Using this case study as a glimpse of the situation, you may use additional research to capture an all-encompassing view. Outline Muvement's expansion strategy, which should firstly contain within it a framework on how to survive. Where do survival and expansion overlap? How should Ed nurture a unique brand identity to differentiate against chain clinics? With Ed’s commitment to individualizing every patient’s experience, how can expansion be possible in a way that allows this? Should he respond to the characteristics in his target market (i.e. seniors and proficiency with technology) or should he drive change within it? Your Task: Create an 8-10 minute presentation on your analysis, what your recommendations are, and your implementation of such recommendations. Include: 1. Problem Identification (What are the key issues?) 2. SWOT (What is Muvement currently like?) 3. Target Market (Who is Muvement targeting? Describe their consumer profiles.) 4. Competitor Analysis (Who is in the market already? Who will soon enter the market? How do they compare to your company?) 5. Solution (What strategies will you employ?) 6. Implementation Plan (How will you implement your solutions?) 7. Risks & Mitigation (What are the risks involved with your changes and how can
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they be reduced, if not prevented?) 8. Conclusion (What was the problem? How did you solve it?)

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