Riverwick Business Loans, a small-business funding service in Taunton, Massachusetts, covers medical practice loans for Bristol County physician practices: equipment financing, working capital during claims lags, credit lines, fit-outs and practice purchases.
At a glance
- Physician practices, Bristol County, MA
217 employers (CBP 2023)
- Their paid employees
3,990 (CBP 2023)
- Ambulatory health care employers
852 (CBP 2023)
Medical Business Loans Around Taunton, MA
Bristol County, MA had 217 offices of physicians with paid employees in 2023, employing 3,990 people on $491.6 million of payroll (County Business Patterns 2023, NAICS 6211; the payroll figure carries a moderate noise flag). Ambulatory health care as a whole, which adds dentists, other practitioners, labs and home health, counted 852 employers with 13,249 paid employees.
Payroll per employee in physician practices was about $123,218, roughly twice the all-employer county figure of about $59,037 (CBP 2023, our arithmetic). That is the cost a practice must carry while claims are processed.
Bristol County, MA Health Practice Employers
| Group (NAICS) | Employers | Paid employees | Annual payroll | Payroll per employee (our arithmetic) | Under five employees |
|---|---|---|---|---|---|
| Offices of physicians (6211) | 217 | 3,990 | $491.6 million | $123,218 | 30.9% |
| Offices of dentists (6212) | 205 | 1,862 | $116.6 million | $62,605 | 28.3% |
| Other health practitioners (6213) | 233 | 1,217 | $60 million | $49,299 | 65.2% |
| Home health care (6216) | 55 | 2,373 | $118.4 million | $49,896 | 25.5% |
Physician Practice Loans for Bristol County, MA Businesses
Practices fund three kinds of cost:
- Equipment: ultrasound, X-ray, EKG, exam tables and electronic records systems, through equipment financing.
- Timing: payroll and rent while insurers pay, through a credit line or working capital.
- Growth: added exam rooms, a second site or buying a practice, through a term loan.
Medical Practice Financing for Taunton, MA Companies
Illustration only, invented figures: a family practice buys a point-of-care ultrasound system for $85,000 and finances it over 60 months at 9% a year. In this invented example, the payment would be about $1,764 a month. Partners ask for the vendor quote, the practice's bank statements and, for imaging, whether reimbursement for the new service is in place.
Loans for Medical Practices for Taunton, MA Companies
A partner reading a practice's request looks at collections, not billings: what insurers and patients actually paid, month by month. Have ready:
- Twelve months of bank statements.
- Practice management reports on collections and accounts receivable by payer and age.
- The latest tax return and profit and loss statement.
- Licenses for each provider.
- Equipment quotes or the build-out estimate.
A Loan to Buy a Medical Practice in Taunton, MA
Buying a practice, or buying into one as a partner, is a term loan request. The partner reads the practice's collections history, payer mix, the selling physician's role in revenue, the lease and the transition plan. Patient records and referral relationships are a large part of what is being bought, so a transition period where the seller stays on is something partners look for.
Taunton, MA Owners Ask: What a Business Loan for a Medical Practice Is Known as
A business loan for a medical practice goes by several names: medical practice loan, physician loan, practice acquisition loan, or simply a healthcare business loan. Physician mortgages are something else, a home loan for doctors, and they are not on this page. Whatever the label, the structure underneath is one of the same six: term loan, line of credit, equipment financing, working capital, inventory financing or an advance.
Clinics, Therapists and Home Health in Bristol County, MA
Bristol County, MA also had 233 offices of other health practitioners, such as chiropractors, physical therapists and optometrists, and 55 home health care employers in 2023 (CBP 2023, NAICS 6213 and 6216). The same funding logic applies: equipment against the equipment, payroll against the claims lag.
Sizing a Credit Line to the Claims Lag
Illustration only, invented figures: a practice runs $48,000 of payroll every two weeks, and insurers pay about six weeks after the visit. In this invented example, three payroll runs, $144,000, go out before the first claims for that period come back. A credit line sized near that figure covers the lag, and it is paid down as remittances arrive. Your own practice management reports set the real numbers.
A line sized well above the lag costs more in fees and invites drawing it for things it was not meant to cover.
Electronic Records, Software and Smaller Equipment
Practice management and electronic health record systems, telehealth setups, exam room furniture and lab analyzers are smaller items that add up. Partners can finance a package of them as one equipment request, provided the vendor quote lists each item. Software subscriptions are an operating cost rather than equipment, so leave them out of an equipment request and plan for them in the practice's monthly budget.
Practice Owners Also Read These Bristol County, MA Pages
The dental office page covers dentists, the Brockton, MA page covers practices there, the industries hub lists other trades and the Taunton, MA page has the county figures.
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