NAICS 621340 Quarterly Industry Report
Offices of Physical, Occupational and Speech Therapists, and Audiologi
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 621340Sector: Health Care and Social Assistance (62)Updated: Q1 2026
About This Report
This industry profile for Offices of Physical, Occupational and Speech Therapists, and Audiologists (NAICS 621340) draws on data from the U.S. Census Bureau[10], Bureau of Labor Statistics[6], professional association workforce surveys, and SBA size standards database[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, healthcare analysts, and rehabilitation industry investors with current market data. All quantitative claims are sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the offices of physical, occupational and speech therapists, and audiologi industry.
NAICS Sector
62
Health Care and Social Assistance
Industry Definition & Overview
Offices of Physical, Occupational and Speech Therapists, and Audiologists (NAICS 621340) encompasses establishments of independent health practitioners primarily engaged in providing physical therapy, occupational therapy, speech-language pathology, and audiology services per the U.S. Census Bureau[5]. Practitioners treat patients with impairments, disabilities, or changes in physical function through rehabilitation and therapeutic intervention. Practices operate as solo offices, group practices, and multi-location therapy chains.
Roughly 30,434 businesses operate from 47,101 locations, employing 431,257 workers and generating $31 billion in revenue per Census data and the Bureau of Labor Statistics[6]. ATI Physical Therapy operates as one of the largest outpatient physical therapy providers with over 900 clinics. Select Medical, Athletico, and U.S. Physical Therapy maintain additional multi-state networks. Independent single-location practices still represent a large share of the market, though consolidation through private equity-backed platforms has accelerated.
Per the SBA Table of Size Standards[7], the size standard is $13 million in average annual receipts. Employment of physical therapists is projected to grow 11 percent from 2024 to 2034 per the BLS[8], with roughly 13,200 openings annually. Speech-language pathologists are projected to grow 15 percent through 2034 per the BLS[9], with 13,300 annual openings and critical shortages identified in school settings. Occupational therapy employment is projected to grow 12 percent through the same period. An aging population with rising chronic disease prevalence - including diabetes, obesity, and musculoskeletal conditions - drives sustained demand for rehabilitation services. Outpatient and home-based therapy models are expanding as cost-effective alternatives to inpatient rehabilitation.
What's Included in This Industry
- Outpatient physical therapy evaluation and treatment
- Occupational therapy rehabilitation and daily living skills training
- Speech-language pathology assessment and intervention
- Audiology hearing evaluation and hearing aid fitting
- Sports injury rehabilitation and return-to-play programs
- Pediatric developmental therapy and early intervention
- Geriatric mobility and fall prevention programs
- Post-surgical orthopedic rehabilitation services
- Vestibular and balance disorder treatment programs
- Telehealth therapy consultation and remote monitoring
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Health Care and Social Assistance | 62 |
| Subsector | Ambulatory Health Care Services | 621 |
| Industry Group | Offices of Other Health Practitioners | 6213 |
| NAICS Industry | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 62134 |
| National Industry | Offices of Physical, Occupational and Speech Therapists, and Audiologists | 621340 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 621310 | Offices of Chiropractors | Offices of Chiropractors treat overlapping musculoskeletal patient populations through spinal manipulation, with physical therapists and chiropractors often competing for back pain, neck pain, and sports injury rehabilitation referrals |
| 621111 | Offices of Physicians (except Mental Health Specialists) | Offices of Physicians (General) serve as primary referral sources for physical, occupational, and speech therapy, with physician orders required for Medicare-covered therapy services in most outpatient settings |
| 621399 | Offices of All Other Miscellaneous Health Practitioners | Offices of All Other Miscellaneous Health Practitioners include respiratory therapists, recreational therapists, and other allied health providers whose rehabilitation services complement physical and occupational therapy treatment plans |
| 622110 | General Medical and Surgical Hospitals | General Medical and Surgical Hospitals employ therapists in inpatient rehabilitation departments and generate referrals to outpatient therapy offices upon patient discharge following surgical and medical admissions |
| 621610 | Home Health Care Services | Home Health Care Services deliver physician-ordered therapy in patient homes, with home health agencies employing physical, occupational, and speech therapists who serve patients unable to travel to outpatient clinic settings |
| 339113 | Surgical Appliance and Supplies Manufacturing | Surgical and Medical Instrument Manufacturing supplies rehabilitation equipment including ultrasound units, electrical stimulation devices, and exercise apparatus to therapy practice clinics for patient treatment |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 9.9% | 5,061 |
| 2 | Florida | 8.2% | 4,148 |
| 3 | New York | 7.6% | 3,886 |
| 4 | Texas | 6.3% | 3,229 |
| 5 | Illinois | 4.7% | 2,390 |
| 6 | Pennsylvania | 4.4% | 2,252 |
| 7 | New Jersey | 4.1% | 2,097 |
| 8 | Michigan | 3.2% | 1,634 |
| 9 | Georgia | 2.9% | 1,455 |
| 10 | North Carolina | 2.8% | 1,430 |
% Of Establishments
0%
10%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
3,832
Total SBA Loans
$1.1B
Total Loan Volume
$298K
Average Loan Size
11 yrs
Average Loan Term
10.41%
Average Interest Rate
46,168
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per the SBA Table of Size Standards[7], Offices of Physical, Occupational and Speech Therapists, and Audiologists (NAICS 621340) has a size standard of $13 million in average annual receipts for federal contracting purposes. SBA lending programs[11] support practice acquisition, rehabilitation equipment investment, and clinic expansion for qualifying therapy practice operators. Eligible businesses can access SBA 7(a) loans[12] for working capital, equipment, and acquisition financing, while 504 loans[13] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 352 | $147.1M | $418K |
| 2 | Newtek Bank, National Association | 304 | $121.8M | $401K |
| 3 | Live Oak Banking Company | 152 | $66.6M | $438K |
| 4 | JPMorgan Chase Bank, National Association | 168 | $41.9M | $250K |
| 5 | U.S. Bank, National Association | 80 | $39.6M | $495K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for physical therapy offices?
NAICS 621340 covers offices of physical, occupational, and speech therapists and audiologists providing rehabilitation services per the U.S. Census Bureau[5].
How large is the therapy practitioner industry?
What is the SBA size standard for therapy practices?
The SBA size standard[7] is $13 million in average annual receipts, determining eligibility for federal small business contracting programs and SBA lending products.
What is the job outlook for physical therapists?
Employment is projected to grow 11 percent from 2024 to 2034, with roughly 13,200 annual openings per the Bureau of Labor Statistics[8], driven by aging population demographics and rising chronic disease prevalence.
Are speech-language pathologists in demand?
SLP employment is projected to grow 15 percent through 2034 per the Bureau of Labor Statistics[9], with 13,300 annual openings and critical shortages identified in school settings across all U.S. regions.
What are typical startup costs for a physical therapy clinic?
Startup costs range from $35,000 to $150,000 for a brick-and-mortar clinic depending on location and build-out, with treatment equipment, office setup, liability insurance, and credentialing representing the primary initial expenditures.
How are therapy practices structured?
Independent single-location practices represent a large market share, though consolidation through private equity-backed platforms such as ATI Physical Therapy, Select Medical, and Athletico has accelerated multi-location therapy chain growth.
What education is required to become a physical therapist?
A Doctor of Physical Therapy (DPT) degree from an accredited program is required, followed by passing the National Physical Therapy Examination per the Bureau of Labor Statistics[8]. All 50 states require licensure.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Table of Size Standards sba.gov
- [8]BLS bls.gov
- [9]BLS bls.gov
- [10]U.S. Census Bureau data.census.gov
- [11]SBA lending programs sba.gov
- [12]SBA 7(a) loans sba.gov
- [13]504 loans sba.gov
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