Impaired balance is a significant concern in orthopedic patients, contributing to increased fall risk and reduced functional independence. While orthopedic conditions directly impact balance, the influence of other factors is often overlooked. This study aimed to investigate the multifaceted risk factors associated with impaired balance in a cohort of orthopedic patients by integrating findings from a literature review with the analysis of baseline data from a quasi-experimental study. The literature review identified established risk factors, including age, gender, comorbidities (sensory, musculoskeletal, psychological, neurological), and specific orthopedic conditions. The baseline data analysis, conducted on 120 orthopedic patients (75 females, 45 males), with a mean age of 68.5 years (SD = 9.2), confirmed the significance of several of these factors. Results indicated that increased age ([r = -0.45], [p < 0.001]) and a higher number of comorbid conditions ([r = -0.32], [p < 0.01]) were significantly associated with poorer baseline balance performance, as measured by the Berg Balance Scale and Timed Up and Go test. Gender differences in balance were also observed, with females demonstrating lower scores on average ([t = 2.89], [p < 0.005]). These findings underscore that balance deficits in orthopedic patients are not solely attributable to their primary condition but are influenced by a complex interplay of demographic factors and comorbidities. Comprehensive assessment and management of these diverse risk factors are essential for effective fall prevention and rehabilitation strategies in this population.