The feet are our main source of mobility, as well as the foundation that supports our entire body. Believe it or not, our feet can tell us so much about our health. A new research by the Australian Podiatry Association shows almost 2 out of 5 Australians discovered life-threatening health issues when they went to a podiatry check up. Some of the common foot pain symptoms were related to other life-threatening health issues, such as circulatory issues (33%), heart problems (11%), diabetes (including risk of amputation, 25%), gout (23%), and other health issues (7%).
It is not normal to have constant foot pain. Constant foot pain is how our feet tell us something is wrong, and it’s in our best interest to not ignore it. Charlotte Bodell, podiatrist and member of the Australian Podiatry Association said, “We often see patients who have no idea they have an underlying health issue, other than experiencing foot pain”.
“Podiatrists are experts in foot health, they know and help you understand and manage your feet so they can support you in leading a happy and healthy life.”
A recent survey of 1,000 respondents by the Australian Podiatry Association (Apoda) observed that 1 in 5 Australians regularly visit podiatrists every few months, and the majority have had occasional visits. This means the foot health market is currently addressing the needs of over 5 million people, and the numbers will keep growing due to our aging population and increase in physical activity post-COVID.
Addressing the potential of the growing foot health market, Healthia (ASX: HLA) has grown to become the largest podiatry service provider in Australia. The allied health group operates more than 100 podiatry clinics that help over 300,000 patients from children to professional athletes, mainly through its MyFootDr brand. This is just a portion of the 1.6 million patients that they saw in FY22 across all of their allied health services, such as physiotherapy, optometry, and many more, making them Australia’s largest diversified allied healthcare provider.
Key to the popularity of Healthia’s clinics is their ability to cross-reference patients between in-house services. MyFootDr patients, for example, gain access to affordable 3D-printed orthotics provided by iOrthotics which is also operated by Healthia or referred to a physio if the pain is in fact subsequent from an underlying issue elsewhere in the body. For the patients, this is very convenient as they don’t have to seek separate providers for different needs. For Healthia, cross-referrals between services keeps the patients within the network to facilitate optimal patient outcomes.
Popularity amongst patients was reflected in Healthia’s revenue rising 44.4% in FY22 to $202.8m and net profit after tax of $9.2m.
To meet rising patient demands, Healthia is rapidly progressing to become the industry’s employer of choice through employee engagement and talent recognition. The Company recently held its INSPIRED2022 conference in the Gold Coast where its clinicians were exposed to upskilling and practical skills to better manage self wellbeing.
By ensuring their clinicians are looking after themselves and constantly educated on allied health best practices, Healthia patients can be handled by the industry’s leading clinicians.
With more than 110 clinics attempting to enter the Healthia network via acquisition combined with the best talent pool, a strong balance sheet, and an established footprint within the industry, Healthia continues to be very well supported by investors who recently backed HLA with $11.1 million for expansion.
Clara is a Business Reporter for The Sentiment.
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