Current Report Filing (8-k)
April 15 2021 - 4:10PM
Edgar (US Regulatory)
falseU S PHYSICAL THERAPY INC /NV000088597800008859782021-04-142021-04-14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 14, 2021
U.S. PHYSICAL THERAPY, INC.
(Exact name of registrant as specified in its charter)
Registrant's telephone number, including area code: (713) 297-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions ( see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
ITEM 8.01 Other Event.
U.S. Physical Therapy, Inc. (the “Company”) reported today that H.R. 1868 was signed into law by the
President on April 14, 2021, which extends the 2% sequester relief applied to all Medicare payments through December 31, 2021. The 2% sequester relief was previously scheduled to end on March 31, 2021. Medicare represents approximately 27% of the Company’s physical therapy revenue. The Company estimates that a total of approximately 31% of its physical therapy revenue, including certain of the Company’s
commercial contracts, are tied to current year Medicare rates. The continuation of sequester relief through December 31, 2021, is expected to increase the Company’s 2021 physical therapy revenue by approximately $2.0 million, or
approximately $0.10 in earnings per share after non-controlling interest and taxes.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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