Digital health · Physical therapy patient engagement
Kips Health
A Y Combinator backed startup that automated remote therapeutic monitoring billing for physical therapy clinics, after starting out as a marketplace for booking physical therapists. The company is now inactive.
Two versions of the same homepage
The Wayback Machine holds two very different snapshots of kipshealth.com from the same year. On January 2, 2024, the site greeted visitors with “Book the best physical therapists near me in Los Angeles,” a consumer marketplace pitch built around insurance, Medicare or cash pay, filtered by sport injury, chronic pain, injury recovery or general fitness. By June 25, 2024, the homepage had been rebuilt entirely. The new headline read “Improve Patient Engagement & Outcomes with RTM,” aimed squarely at clinic owners rather than patients, promising automated check-ins between visits and easier collection of remote therapeutic monitoring reimbursement.
That is the arc of Kips Health in miniature: a consumer booking app that turned into business software sold to the clinics it once tried to book patients into.
The problem it settled on
Remote therapeutic monitoring is a Medicare billing category, created in 2022, that lets physical therapists and other providers bill for time spent reviewing a patient’s at-home exercise data and for the check-ins that go with it. The codes require a minimum number of monitored days and a minimum number of minutes of clinician time each month, tracked and documented. That documentation burden is exactly what Kips Health’s later product targeted: automated messaging and check-ins meant to satisfy the RTM requirements with, in Y Combinator’s description of the company, “only 5 minutes of work” from the clinic.
PitchBook’s own summary of the business lands on the same idea from a different angle, describing Kips Health as a “developer of a patient engagement software designed for data-driven matching for musculoskeletal medicine providers” whose software “helps to book an appointment related to injury, health and overall fitness problems for athletes, enabling physical therapists to automatically collect remote therapeutic monitoring reimbursements.” That description still carries traces of the original booking product even after the company had moved on to billing automation, a sign of how quickly the pivot happened relative to how slowly outside descriptions caught up.
Founders
Kips Health was co-founded by Jarrett Perkins and Eric Wang. According to Eric Wang’s own site, he is “a founder, PM, and design engineer based in Los Angeles” who, before his current work, “founded a health tech company called Kips Health backed by Y-Combinator.” He lists his role there as founder and head of product, and describes building “an AI health messaging product end-to-end serving hundreds of Medicare patients and multiple health and therapy networks in California.”
Jarrett Perkins is described in an aggregated profile as “the CEO and co-founder of Kips Health, a startup that develops patient engagement software for physical therapists.” Before Kips Health, that same profile says he spent two years at Asana on its Search and Navigation team, work that a separate newsletter profile credits with “leading experiments that boosted Asana’s Annual Recurring Revenue (ARR) by a cool $2 million,” and before that an internship at Atlassian.
The two have a history that predates the company. A newsletter profile of their later venture, Advent, says the pair have known each other since middle school, and describes Eric’s background as “development experience from Amazon Games and marketing insights from an esports team,” including work on two shipped titles, New World and Lost Ark.
From patients to clinics to a new company
Y Combinator’s own listing for Kips Health now carries a “Former Founders” label, and the link behind it leads to the Launch YC post for Advent Studios, a separate Y Combinator backed company making AI driven, user-generated video games. Eric Wang’s site lists his role there the same way as his Kips Health role, founder and head of product, and credits the studio with launching “two multiplayer games on the Fortnite UEFN platform, amassing 100K+ minutes played by thousands of players.” His site also lists a more recent role as a product engineer at Culina Health, a separate nutrition-focused health tech company, where he says he “led billing automation project” in his first two months.
PitchBook’s deal history for Kips Health shows two entries: an “Accelerator/Incubator” deal dated January 1, 2023, matching the Y Combinator investment, and an “Out of Business” entry dated October 18, 2024. The Wayback Machine’s record of kipshealth.com runs past that date, with a last capture on July 10, 2025, meaning the marketing site stayed up well after PitchBook’s cutoff for calling the company closed.
What is proven, and what is still claimed
| Evidence | What the record shows | Source type |
|---|---|---|
| Y Combinator record | Listed by Y Combinator with the description “Kips Health enables physical therapists to automatically collect RTM reimbursements with only 5 minutes of work.” The company’s own YC page now shows a “Former Founders” label linking to the founders’ next company, Advent Studios. | Public record |
| Company status | PitchBook lists year founded as 2023, headquarters Los Angeles CA, 2 employees, and status “Out of Business,” with a deal entry of that type dated Oct 18, 2024. | Public record |
| Product pivot | Wayback Machine captures show kipshealth.com as a consumer physical therapist booking marketplace on Jan 2, 2024, and as B2B remote therapeutic monitoring software for clinics by Jun 25, 2024. Last capture Jul 10, 2025. | Public record |
| Funding total | PitchBook’s FAQ states the company “has raised $500K,” with no round-level detail. Eric Wang’s own site says he “Raised ~$1M in venture capital from Y Combinator” while at the company. | Differs between sources |
| SEC Form D | A search of the SEC EDGAR company database for names starting “Kips,” “Kip,” and “Kipshealth” turned up no entity named Kips Health among registered Form D filers as of Sep 25, 2026. | Not found |
| Headquarters | PitchBook and Eric Wang’s site both place the company in Los Angeles. LinkedIn and RocketReach both list San Francisco as headquarters. | Differs between sources |
| Patient volume | Eric Wang’s site says the product served “hundreds of Medicare patients and multiple health and therapy networks in California.” No independent figure confirms this. | Founder-stated |
Read plainly: the paper trail for Kips Health is corporate and self-reported rather than regulatory. There is no FDA clearance to check because the product was billing and messaging software, not a device, and no registered trial because it made no clinical claims of its own. What exists instead is a directory record from Y Combinator, a data aggregator’s snapshot from PitchBook, two mismatched homepages preserved by the Wayback Machine, and a founder’s own account of what the company built and raised. The funding figures do not agree with each other, and no SEC filing settles the question either way.
What to watch
- Whether an amended or late SEC Form D ever appears under Kips Health or a related entity name to resolve the $500K versus $1M gap.
- Whether Jarrett Perkins or Eric Wang discuss the shutdown directly; neither has published an account of why the company stopped operating.
- Advent Studios, the founders’ next venture, also backed by Y Combinator, which has since described itself with both an AI user-generated-content pitch and, in Eric Wang’s own account, shipped Fortnite UEFN games.
In their words
“Kips Health enables physical therapists to automatically collect RTM reimbursements with only 5 minutes of work.”
Y Combinator company listing · Public record
“Book the best physical therapists near me in Los Angeles.”
kipshealth.com homepage, Jan 2, 2024 capture · Company-stated
“Improve Patient Engagement & Outcomes with RTM.”
kipshealth.com homepage, Jun 25, 2024 capture · Company-stated
“Increasing your clinic revenue and margins has never been easier with AI RTM management from Kips Health.”
kipshealth.com homepage, Jun 25, 2024 capture · Company-stated
“I founded a health tech company called Kips Health backed by Y-Combinator.”
Eric Wang, co-founder, personal site · Founder account
“Built an AI health messaging product end-to-end serving hundreds of Medicare patients and multiple health and therapy networks in California. Raised ~$1M in venture capital from Y Combinator.”
Eric Wang, co-founder, personal site · Founder account
“He is the CEO and co-founder of Kips Health, a startup that develops patient engagement software for physical therapists.”
Aggregated profile of Jarrett Perkins, Clay/Mesh · Independent
“Spent two years with Asana’s Search and Navigation team, refining Asana’s search relevance and leading experiments that boosted Asana’s Annual Recurring Revenue (ARR) by a cool $2 million.”
Founders Pack Wolfcast newsletter, on Jarrett Perkins · Independent
Related companies
Sources
- Public recordKips Health company listing
- Public recordKips Health 2026 Company Profile
- Public recordkipshealth.com homepage capture
- Public recordkipshealth.com homepage capture
- Public recordkipshealth.com capture timemap, last capture Jul 10, 2025
- Public recordEDGAR company search, names “Kips,” “Kip,” “Kipshealth,” Form D filers
- IndependentEric Wang personal site and resume
- IndependentJarrett Perkins aggregated profile
- IndependentAdvent: Where Players Are the Creators of the Game (YCS23)
- IndependentKips Health (YC S23) company profile
- CompanyKips Health (YC S23) company page
- Public recordLaunch YC: Advent, Video games that never end
Profile researched and written by Healthcare Discovery. Last updated September 29, 2026.
