Physical Therapy Pro Forma
Healthcare Excel Template (Free Download)
Turn clinic openings, patient capacity, payer reimbursement, staffing, and ancillary services into a seven-year physical therapy pro forma.
professionals from Deloitte
About this pro forma
This pro forma shows how an outpatient physical therapy group converts clinic capacity and payer mix into patient visits, reimbursement, wellness memberships, bracing, and retail revenue. It projects therapist and support staffing, operating expenses, capex, working capital, EBITDA, and unlevered free cash flow through a DCF.
Use it to plan clinic expansion, test reimbursement and utilisation scenarios, and evaluate group value. The underlying Excel model is the calculation engine; the pro forma is the projected operating and valuation output.
What every model includes
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
What's inside the Physical Therapy Pro Forma
- Clinic roll-forward and patient visit utilisation ramp
- Four-tier payer mix and blended reimbursement forecast
- Wellness membership, bracing, and retail revenue output
- Therapist, support staff, occupancy, and overhead cost build
- Clinic expansion capex and working capital bridge
- Unlevered free cash flow, enterprise value, and equity value
Formatted to IB standards
Named theme colors repaint the whole workbook in one click, on top of an investment-banking structure with clear input, output, and cross-sheet reference styling - brand-ready, institutional-grade, and fully auditable.
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Frequently asked
What does this physical therapy pro forma project?+
It projects clinic growth, visits, payer reimbursement, ancillary revenue, staffing costs, cash flow, and valuation.
Can I change the payer mix?+
Yes. Adjust payer shares, reimbursement indices, visit volume, and utilisation to test revenue and margin scenarios.
Are support services included?+
Yes. Wellness memberships, bracing, and retail are modelled alongside patient visits and therapy revenue.
How is value calculated?+
Projected unlevered free cash flow is discounted to enterprise value, equity value, and value per share.
Have more financial modelling questions? Contact us
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