Illinois micro-market
Healthcare practice financing in Waukegan, Illinois
Direct answer
A Waukegan file is read against 472 local clinicians, 53.3 for every 10,000 of its 88,570 residents, 30 percent of them in behavioral and mental health group practices, plus the 16 SBA healthcare approvals worth $6,809,300 already recorded in Lake County, 15 miles from Kenosha, WI.
A location page indicates that Practition Finance is taking clients in that market. It does not represent a physical office, storefront, or licensed presence in that city or state. All services are delivered remotely by our US-based team. How a referral works in Illinois, and how many partners see it, is set out on the Illinois page.
- Population: 88,570 residents (50K-100K band)1
- Healthcare providers registered here: 472 across 27 fields2
- Median household income: $70,5783
- Largest provider field: Behavioral and mental health group practices: 140 registered providers2
- Medicare-certified providers in town: 4 across 1 categories4
- Nearest metro: Kenosha, WI, 15 miles1
Who is enumerated in Waukegan
Counted at the town's own addresses: 472 providers, 27 fields, 53.3 clinicians per 10,000 of the 88,570 residents here
| Practice type | Count | Rate per 10,000 residents | Published by |
|---|---|---|---|
| Behavioral and mental health group practices | 140 | 15.8 | NPPES [2] |
| Physical, occupational, and speech therapy | 68 | 7.7 | NPPES [2] |
| General dentistry | 55 | 6.2 | NPPES [2] |
| ABA and autism therapy | 30 | 3.4 | NPPES [2] |
| Primary care and family medicine | 27 | 3.0 | NPPES [2] |
| Specialty physician groups | 22 | 2.5 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 18 | 2.0 | NPPES [2] |
| DME and HME suppliers | 16 | 1.8 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 11 | 1.2 | NPPES [2] |
| SUD treatment and residential | 10 | 1.1 | NPPES [2] |
| Optometry and ophthalmology | 10 | 1.1 | NPPES [2] |
| Home health | 9 | 1.0 | NPPES [2] |
| Chiropractic | 7 | 0.8 | NPPES [2] |
| Dental specialties | 6 | 0.7 | NPPES [2] |
| Independent pharmacy | 6 | 0.7 | NPPES [2] |
| Non-medical home care | 6 | 0.7 | NPPES [2] |
| Dialysis and infusion centers | 5 | 0.6 | NPPES [2] |
| Clinical research sites | 4 | 0.5 | NPPES [2] |
| Clinical and toxicology labs | 4 | 0.5 | NPPES [2] |
| Podiatry | 3 | 0.3 | NPPES [2] |
| IDD services | 3 | 0.3 | NPPES [2] |
| ASCs and OBLs | 3 | 0.3 | NPPES [2] |
| Hormone, TRT, and men's health clinics | 3 | 0.3 | NPPES [2] |
| Urgent care | 2 | 0.2 | NPPES [2] |
| Med spa and aesthetics | 2 | 0.2 | NPPES [2] |
| NEMT and ambulance | 1 | 0.1 | NPPES [2] |
| Occupational health and drug testing | 1 | 0.1 | NPPES [2] |
| Medical equipment suppliers | 10 | CMS [4] | |
| Dialysis facilities | 4 | CMS [4] |
Several of the 140 behavioral and mental health group practices enumerations can belong to one practice, so the column counts clinicians rather than businesses or owners
What lenders have already approved in Lake County
The published file shows 16 healthcare approvals in Lake County, $6,809,300 in total, and that history is what an appraiser and a credit committee reach for
| Measure | Published figure | What sits behind it |
|---|---|---|
| Healthcare files approved | 16 | One published fiscal year, healthcare borrowers only [5] |
| Dollars behind them | $6,809,300 | Approved, not disbursed, and not net of withdrawals [5] |
| Typical approval size | $425,581 | A mean, so one large approval moves it [5] |
| Credit offices operating locally | 318 | Credit intermediation offices sited in the county [6] |
Reading Waukegan the way a credit committee does
Density of 53.3 per 10,000 sets the patient draw a projection can claim without an argument. Because Lake County already carries $6,809,300 across 16 healthcare approvals, a request near that average moves faster than one well above it. Household income of $70,578 in Waukegan is the number a lender uses to sanity check the self-pay share of a revenue projection.
The programs this provider mix points at
- Practice acquisition
- Working capital term loan
- Startup and de novo
- Expansion, relocation, and build-out
- Equipment financing and leasing
The order comes from Waukegan's own provider mix, which behavioral and mental health group practices dominates at 30 percent. What a partner can actually place in Illinois is a separate question.
Underwriting by field in Waukegan
Drawn from the fields that actually practice here: behavioral and mental health group practices, physical, occupational, and speech therapy, general dentistry
| Practice type | The pages that decide it | Typical capital event |
|---|---|---|
| Behavioral and mental health group practices (140) | Clinician retention and productivity, Payer mix and Medicaid concentration, Re-authorization and session limit exposure | Working capital through the credentialing lag |
| Physical, occupational, and speech therapy (68) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| General dentistry (55) | Three years of collections history, Hygiene as a share of collections, Overhead ratio and owner add-backs | Acquisition of an established practice |
NPPES supplies the Waukegan counts. The reading columns describe the field in general, and no partner reviewing a Waukegan file is bound by them.
Waukegan against nearby Illinois markets
Comparables travel. These are the Illinois towns whose density, at 53.3 per 10,000 here, gets weighed beside this one.
| Comparable | People | Enumerations | Per 10,000 residents | Miles |
|---|---|---|---|---|
| Waukegan (current) | 88,570 | 472 | 53.3 | |
| Gurnee | 30,546 | 493 | 161.4 | 3 |
| North Chicago | 30,639 | 238 | 77.7 | 4 |
| Beach Park | 14,212 | 21 | 14.8 | 5 |
| Zion | 24,583 | 91 | 37.0 | 6 |
| Libertyville | 20,643 | 643 | 311.5 | 8 |
| Lindenhurst | 14,564 | 91 | 62.5 | 9 |
What the geography does to a Waukegan projection
Kenosha, WI lies 15 miles from Waukegan, close enough that appraisers price the lease against Kenosha, WI rents while 88,570 residents set the revenue ceiling. At $70,578 median household income, the elective and cash-pay share of a projection is the line that gets tested first. The hospital fixes two inputs a lender would otherwise estimate in a 88,570 resident town: where referrals originate, and what staff cost. Waukegan is the Lake County seat, so county employment steadies the payer mix.
More of Illinois
- Gurnee 30,546 residents
- North Chicago 30,639 residents
- Beach Park 14,212 residents
- Zion 24,583 residents
- Libertyville 20,643 residents
- Lindenhurst 14,564 residents
Questions from Waukegan
01How many providers practice in Waukegan, and in what?
Across 27 fields, Waukegan carries 472 enumerated clinicians, 53.3 per 10,000 of the 88,570 people living here. The concentration is in behavioral and mental health group practices, 140 of the total, then physical, occupational, and speech therapy at 68. Count practices from that only with care.
02What does Lake County's shortage designation change?
Lake County holds a HRSA designation covering primary care, dental, mental health. A pro forma for Waukegan can cite it as the reason a vacancy is fillable, which is usually the weakest line in a ramp schedule.
03Is Waukegan underwritten as part of Kenosha, WI?
Kenosha, WI sits 15 miles away, close enough that appraisers reach into that market for rent and resale comparables while your patient draw stays local. The comparables read Kenosha, WI; the 88,570 residents set the ceiling a projection can defend.
04Is there local lending capacity in Lake County?
County Business Patterns records 318 credit intermediation establishments in Lake County. That is the local origination bench, and it decides whether a file gets underwritten by somebody who has seen Waukegan rents and resale before or by somebody working from a screen.
05What does SBA lending look like around Waukegan?
The county file behind Waukegan holds 16 healthcare approvals totaling $6,809,300, an average of $425,581. Those are the loan sizes lenders in Lake County have already carried.
06Which fields carry the volume in Waukegan?
Volume concentrates in behavioral and mental health group practices, 140 of them, ahead of physical, occupational, and speech therapy at 68, across 27 fields. A thin second field usually means a longer search for staff than a pro forma allows for.
Sources
- 1U.S. Census Bureau, Population Estimates, vintage 2024
- 2CMS NPPES, monthly full replacement file
- 3U.S. Census Bureau, ACS 5-year 2023, table B19013
- 4CMS Care Compare provider datasets
- 5U.S. Small Business Administration, 7(a) and 504 approvals
- 6U.S. Census Bureau, County Business Patterns 2022
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