HealthSpark

What do they actually do

HealthSpark helps physical therapists start and run independent practices without needing a full back office. The company combines software with hands‑on support to handle insurer credentialing and in‑network setup, claims submission and follow‑up, and day‑to‑day admin like digital intake and scheduling. It’s built to work from a phone or tablet so mobile/home‑visit PTs can document on the go and get paid without a front desk. (Site)

For PTs offering telehealth or operating small clinics, HealthSpark provides compliant video visits, documentation that maps into billing workflows, and tools to collect patient insurance and payments. It also offers ways to be discovered by patients (directory/marketing) to help independents grow. (Site)

Who are their target customer(s)

• Aspiring independent PTs leaving a clinic: They don’t know how to launch an in‑network practice and get stuck on insurer credentialing, billing setup, and compliance paperwork. (YC profile, site)
• Mobile/home‑visit PTs: They need to document from a phone/tablet, capture intake/insurance in the field, and get paid without a back office. (site)
• Solo in‑clinic PT owners (no front desk/billing team): They lose billable time to scheduling, site approvals, claims follow‑up, and admin tasks that pile up. (site)
• Telehealth PTs: They struggle with compliant video visits, onboarding remote patients, and tying telehealth documentation to clean claims. (site)
• Small private‑practice PTs trying to grow: They can treat patients but lack insurance network access, consistent local demand, and back‑office capacity to scale. (site)

How would they acquire their first 10, 50, and 100 customers

• First 10: Personally onboard local PT contacts and nearby owners with a free white‑glove pilot that includes insurer credentialing and initial billing setup in exchange for live feedback and a public quote; run 1:1 onboarding (phone/in‑person) to remove friction. (YC profile, site)
• First 50: Use pilot testimonials and 1–2 case studies to run targeted outreach to PT owner Facebook groups, state PT associations, and PT school alumni; host short webinars on getting credentialed and billing with HealthSpark, then convert attendees with a time‑boxed onboarding concierge offer. (site)
• First 100: Add a small outbound rep focused on metro areas with many solo PTs, launch a referral program with credits/payments, and test low‑cost demand capture (search ads like “how to accept insurance as a PT” and sponsored PT directory listings). Automate repeatable onboarding tasks (document checklists, intake forms, payer follow‑ups) to increase weekly closes. (site)

What is the rough total addressable market

Top-down context:

The U.S. physical‑therapy services market is commonly estimated around $40–50B; Grand View Research reports $50.23B in 2024, projecting growth to $76.61B by 2033 (Grand View Research).

Bottom-up calculation:

There are 310k+ licensed PTs with active licenses in the U.S. (FSBPT 2024 census). Outpatient/private settings employ the largest share (about 39–43% per APTA and BLS), implying roughly 100k–130k PTs in outpatient/private settings (APTA demographics report). Industry materials cite a highly fragmented outpatient rehab market with 37,000+ clinics and no operator above 10% share (USPh investor presentation). HealthSpark’s initial SAM (solo and single‑clinic owners lacking billing/front‑desk support, plus independent mobile/telehealth) is plausibly 10,000–30,000 clinics/PTs today.

Assumptions:

• Outpatient/private settings account for roughly 39–43% of PT employment, used as a proxy for independent/small‑clinic potential (APTA demographics).
• Clinic base is 37,000+ outpatient rehab clinics; the highest‑need early adopters are a subset focused on solo/small practices (USPh IR).
• A small share of PTs are self‑employed (BLS lists about 4%), supporting a lower‑bound estimate for solo owners and independent mobile PTs (BLS OOH).

Who are some of their notable competitors

• WebPT: PT‑focused EMR with front‑office tools and full RCM/outsourced billing services; strong on rehab‑specific documentation, eligibility, claims, and collections. (WebPT, RCM)
• Clinicient: Rehab‑therapy EMR with integrated charge capture, billing software, and RCM aimed at outpatient PT/OT practices with Medicare‑compliant workflows. (Clinicient, EMR)
• Jane (Jane App): Lightweight clinic management for physios and mobile therapists: online booking, charting, insurance billing/direct‑billing, payments, and telehealth; common with solo/small clinics. (Jane, Physio)
• SimplePractice: General practice platform used by many solo PTs with mobile‑friendly notes, telehealth, insurance claim tools, and a patient portal; competes on ease of use. (Features, Insurance)
• Kareo / Tebra: Practice management plus billing/RCM for independents and small clinics; strong eligibility/claims lifecycle and outsourced RCM options applicable to PT practices. (Tebra)