Benchmarks
Orthopedics financial benchmarks
How does your ortho practice compare? Key metrics cited to specialty association data and cross-checked against Sorso client engagements.
Benchmarks are published industry ranges and Sorso-observed ranges from our client engagements. They are directional, not prescriptive — use them as a starting point for diagnosis, not a target.
Data reflects 2024 reporting cycles where available, with 2023 data used when a newer survey has not yet been published.
Profit Margin
30%
Range: 22%–40%
Overhead Ratio
55%
Range: 48%–63%
Revenue / Provider
$1000K–$2000K
Annual range
Collection Rate
91%
Range: 89%–94%
Denial Rate
9%
Range: 7%–11%
A/R Days
33 days
Range: 25–44 days
Source: Industry benchmarks compiled from MGMA, specialty association surveys, and practice management databases. Updated 2026.
How your practice compares
Where the money goes
| Category | % | Description |
|---|---|---|
| staffing | 47% | Clinical and administrative staff wages, benefits, and payroll taxes |
| rent | 9% | Facility lease, utilities, and maintenance costs |
| supplies | 9% | Clinical supplies, office supplies, and consumables |
| equipment | 14% | Equipment leases, maintenance, and depreciation |
| marketing | 4% | Digital advertising, website, patient acquisition |
| insurance | 6% | Malpractice, general liability, and property insurance |
| Other | 11% | IT, professional fees, continuing education, miscellaneous |
Payer mix
Typical payer distribution for orthopedics practices. A balanced payer mix reduces dependency on any single source and improves revenue predictability.
Collection rates by payer
What top performers look like
Profit Margin
42%+ (MGMA DataDive: Orthopedics Cost & Revenue, 2024)
Collection Rate
95%+ (MGMA DataDive: Orthopedics, 2024)
Denial Rate
< 6% (AAOE Benchmarking Survey, 2024)
A/R Days
< 23 days (MGMA DataDive: Orthopedics, 2024)
KPIs specific to orthopedics
| KPI | Benchmark | Description |
|---|---|---|
| Surgical Cases per Surgeon / Month | 50–80 (AAOE Benchmarking Survey; MGMA DataDive: Orthopedics, 2024) | Monthly surgical volume per orthopedic surgeon; the primary revenue driver |
| Implant Cost as % of Surgical Revenue | 15–25% (Muve Health benchmarks; AAOE, 2024) | Cost of implants and hardware relative to surgical revenue; major variable expense |
| ASC vs. Hospital Case Mix | 40–60% ASC (AAOE Benchmarking Survey, 2024) | Percentage of surgeries in an ambulatory surgery center vs. hospital; ASC improves margins |
| Physical Therapy Capture Rate | 50–70% (MGMA DataDive: Orthopedics, 2024) | Percentage of post-surgical patients receiving PT within the practice's network |
From Sorso
In the orthopedic groups Sorso works with, ASC ownership economics and implant contract discipline drive the entire spread — practices without ASC exposure almost never clear 30% EBITDA.
Sources
- American Alliance of Orthopaedic Executives (AAOE) — Benchmarking Survey (2024)
- MGMA DataDive — Orthopedics Cost & Revenue slice (2024)
- Muve Health — Orthopedic practice benchmarks (2024)
- CMS Physician Fee Schedule (orthopedic procedure codes, 2024)
Data reflects the latest available specialty association and MGMA reports through 2025; re-verified April 2026.
Founder of Sorso. 18 years in corporate finance. Managed a $450M loan portfolio before building a fractional CFO firm exclusively for healthcare clinics.
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