U.S. Physical Therapy Industry Statistics
2024–2025
Comprehensive statistics on the U.S. physical therapy industry, sourced from U.S. Census Bureau County Business Patterns (CBP) 2022, the American Community Survey (ACS), and the Bureau of Labor Statistics (BLS). NAICS 621340 covers offices of physical, occupational, and speech therapists and audiologists.
Contents
1. Industry Size
Source: U.S. Census Bureau CBP 2022 (NAICS 621340)
~40,000
PT/OT office establishments (CBP 2022)
230,000
Physical & occupational therapists employed (ACS)
$1.2M
Average PT practice annual revenue
+17%
PT occupational growth projected 2022–2032 (BLS)
"The U.S. physical therapy industry (NAICS 621340) comprises approximately 40,000 employer establishments per CBP 2022. The ACS records approximately 230,000 physical and occupational therapists in employment. Physical therapy is among the fastest growing healthcare occupations, with BLS projecting 17% occupational growth from 2022 to 2032."
— Session.care Research, citing U.S. Census Bureau CBP 2022, NAICS 621340; BLS Occupational Outlook Handbook
The U.S. physical therapy industry sits at the intersection of the personal care and healthcare economies — a unique position that gives it both the scheduling characteristics of appointment-based care businesses and the reimbursement complexity of the healthcare system. The 2022 CBP recorded approximately 40,000 PT/OT office establishments under NAICS 621340.
Growth drivers are structural and demographic: the aging U.S. population, the expansion of direct-access PT (no physician referral required in most states), and growing awareness of physical therapy as a non-opioid treatment for chronic pain have collectively driven sustained demand growth.
2. Workforce & Earnings
Source: ACS; BLS Occupational Outlook Handbook (SOC 29-1123, 29-1122)
$91,000
Median annual salary — physical therapists (BLS)
$86,000
Median annual salary — occupational therapists (BLS)
6.1
Avg. employees per PT establishment (CBP 2022)
| Occupation | Median Annual Salary | BLS Growth 2022–2032 |
|---|---|---|
| Physical Therapists (SOC 29-1123) | $91,010 | +17% |
| Occupational Therapists (SOC 29-1122) | $86,280 | +12% |
| PT Assistants (SOC 31-2021) | $61,180 | +24% |
| PT Aides (SOC 31-2022) | $30,620 | +1% |
Physical therapists are among the highest-earning professionals in the personal care and healthcare overlap sector, with a median annual salary of $91,010 (BLS). PT assistants — a high-growth occupation with 24% projected growth — earn a median of $61,180. The workforce combination of PTs and PTAs gives practices flexibility in service delivery and cost management.
3. Practice Revenue
Source: 2022 Economic Census; APTA industry reports; practice benchmarking data
$1.2M
Average annual revenue per PT practice
$450K
Median small PT practice (1–2 therapists)
$150–$300
Avg. per-session reimbursement
8–12
Avg. patient sessions per therapist per day
Physical therapy practices generate significantly higher average revenues than most personal care businesses. The average PT practice annual revenue is approximately $1.2 million, driven by higher per-session reimbursement rates ($150–$300/session depending on payer mix) and session volumes of 8–12 patients per therapist per day.
Smaller solo or two-therapist practices typically generate $300,000–$600,000 annually. Multi-therapist group practices with 4–8 clinicians regularly exceed $1.5–$3 million. The high revenue per practice makes scheduling efficiency — including minimizing cancellations and no-shows — a high-priority operational concern.
4. Insurance & Reimbursement
Source: APTA; CMS data; industry practice benchmarks
85%+
PT revenue from insurance reimbursement
Medicare / Medicaid
Largest single payer source for PT practices
50 states
Direct-access PT allowed without referral
More than 85% of PT practice revenue comes from insurance reimbursement — Medicare, Medicaid, commercial health insurance, and workers' compensation. This makes PT practices uniquely sensitive to billing accuracy, scheduling efficiency, and patient attendance rates (since missed appointments create reimbursable gaps that cannot be recovered).
The expansion of direct-access physical therapy across all 50 states has simplified the patient pathway — patients can now self-refer to a PT without a physician's referral in most insurance plans — increasing both demand and the importance of streamlined online booking for patient acquisition.
5. The Scheduling Challenge
Source: Industry benchmarks; APTA practice management data
Why No-Shows Are Particularly Costly in PT
$150–$300
Revenue per missed PT session
10–15%
Typical PT patient no-show/cancellation rate
$15,000+
Annual revenue loss from missed sessions (small practice)
50–60%
No-show reduction from automated SMS reminders
At $150–$300 per session, a PT practice experiencing a 10–15% no-show rate on 40+ weekly appointments faces an annual revenue loss of $40,000–$90,000 for a mid-size practice. Automated appointment reminders and a clear cancellation policy enforced through booking software are standard practice management best practices in PT clinics.
6. Key Takeaways
What the Census Data Tells Us About the Physical Therapy Industry
- 1Fastest growing healthcare occupation: 17% growth projected through 2032 — driven by aging demographics and expanded direct-access PT.
- 2High-revenue practices: $1.2M average revenue means scheduling efficiency directly impacts significant revenue — every missed session is $150–$300 lost.
- 3Insurance-dominated revenue: 85%+ insurance reimbursement means PT practices need reliable scheduling tools to document care episodes and justify continued treatment.
- 440,000+ practices: A large market of independently owned PT clinics that need booking software without enterprise pricing.
- 5Highest per-session value: At $150–$300/session, PT has the highest revenue-at-risk per no-show of any care business category.
7. Methodology & Sources
- CBP 2022, NAICS 621340 — Offices of Physical, Occupational and Speech Therapists, and Audiologists.
- American Community Survey (ACS) — Employment data for physical and occupational therapists.
- BLS Occupational Outlook Handbook — Physical therapist (SOC 29-1123) and OT (SOC 29-1122) salary and growth projections.
- 2022 Economic Census, NAICS 6213 — Revenue benchmarks for offices of other health practitioners.
- APTA (American Physical Therapy Association) — Practice benchmarking data and reimbursement statistics.
All figures are provided for informational and market-sizing purposes. Last reviewed: March 2025.
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