Aspenspring Business Loans in Durango, Colorado places medical practice funding requests with funding partners. La Plata County, CO counted 47 physician offices with paid employees in 2023. This page covers physician practice loans, medical equipment leasing, buying into or buying a practice, working capital for clinics, and cash flow while claims are paid.
At a glance
- Physician offices with paid employees, La Plata County, CO
47 (County Business Patterns 2023)
- Health care and social assistance payroll
$197.8 million, the largest of any sector (County Business Patterns 2023)
- Physician offices without paid employees
103 (Nonemployer Statistics 2024)
Physician Practice Loans Around Durango, CO by the County Numbers
Medical practice loans start from the practice count. County Business Patterns counted 47 offices of physicians in La Plata County, CO in 2023, with 304 employees and $31.8 million in annual payroll, about $104,635 per employee (our arithmetic); 68.1% had fewer than five employees (County Business Patterns 2023). Health care and social assistance as a whole carried $197.8 million in payroll, the largest of any county sector.
ZIP 81301 counted 37 physician offices (ZIP Code Business Patterns 2023), and Nonemployer Statistics counted 103 physician practices without paid employees for 2024 (Nonemployer Statistics 2024).
Medical Equipment Leasing and Loans for Exam Rooms and Imaging
Exam tables, ultrasound, X-ray, EKG units, lab analyzers and practice software are the purchases. Leasing suits equipment that dates quickly; a loan suits equipment the practice will keep for its working life. Illustration only, invented figures: a $62,000 ultrasound system over 60 months at an invented 9.5% costs about $1,302 a month (our arithmetic).
Read a lease for the end-of-term option, who pays for service, and whether software licenses are included. Equipment financing lays an imaging loan beside an imaging lease, payment for payment.
Carrying Payroll Through the Weeks Insurers Take to Pay a Claim
Care is given on the day of the visit; the insurer's check follows weeks afterward. Illustration only, invented figures: a clinic billing $140,000 a month with claims paid in 45 days on average carries about $210,000 in receivables at any time (our arithmetic). That balance is the gap a line of credit covers, and an asset-based line can be sized from it.
Physical therapy and veterinary clinics share the same pattern; therapy practices have their own page, and veterinary clinics are covered in the industry notes.
Physician Business Loans for Doctors Buying Into a Practice
A physician joining as a partner can buy a share of the practice. Illustration only, invented figures: a $180,000 buy-in financed over 84 months at an invented 9% costs about $2,896 a month (our arithmetic). A partner reads the practice's financial statements, the partnership agreement and the buying physician's expected income.
A term loan is the funding type for a buy-in, with the schedule set against the share of profit the buyer will receive.
Buying a Medical Practice Checklist
- Three years of the practice's tax returns and financial statements.
- Payer mix, meaning how revenue divides between each insurer and patients paying directly.
- Receivables aging, and whether receivables are part of the sale.
- Equipment list, with leased items flagged.
- The lease and whether it transfers to the buyer.
- Staff, credentialing and contracts that must be renewed under the new owner.
The Colorado acquisition guide covers the purchase process; credentialing and licensing questions go to the relevant boards and payers.
Practice Software, Build-Outs and a Second Office for La Plata County, CO Physicians
Not every practice purchase is a machine. Electronic health record software, a phone system, a patient portal and a remodel of a waiting room are costs with no resale value, so a funder cannot lend against them the way it lends against an ultrasound. Those costs go to a term loan or a line, sized to what collections can carry. Illustration only, invented figures: a $85,000 build-out for two added exam rooms over 72 months at an invented 10% costs about $1,575 a month (our arithmetic).
A second office brings a second lease, a second front desk and months before the new location's patients cover its costs. A partner reviewing that request reads the first office's collections, the new lease and the plan for staffing the new rooms. Opening costs that come before any new revenue are the part a line of credit or working capital loan carries; the build-out and the equipment are the parts a term loan or an equipment loan carries.
Medical Practice Cash Flow, Worked Month by Month
A simple cash flow check for a practice: monthly collections, not billings, minus payroll, rent, supplies and existing payments, gives the room left for a new payment. Using the invented figures above, a practice collecting $140,000 a month that adds the ultrasound payment of $1,302 should see that payment covered by collections in its weakest month. The Durango, CO page has the county counts, and the dental page covers dental offices.
By Aspenspring Business Loans · Updated