Iowa micro-market
Healthcare practice financing in Spencer, Iowa
Direct answer
155 healthcare providers hold a Spencer practice address, 135.8 per 10,000 of its 11,418 residents, 16 percent of them in physical, occupational, and speech therapy. Clay County recorded 0 SBA healthcare approvals worth $0, and Sioux City, IA-NE-SD sits 77 miles out.
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- Population: 11,418 residents (10K-25K band)1
- Healthcare providers registered here: 155 across 22 fields2
- Median household income: $57,0683
- Largest provider field: Physical, occupational, and speech therapy: 25 registered providers2
- Medicare-certified providers in town: 3 across 3 categories4
- Nearest metro: Sioux City, IA-NE-SD, 77 miles1
The clinical base a lender can verify here
135.8 providers per 10,000 residents is what 155 enumerations across 22 fields works out to in a town of 11,418
| Specialty | Enumerated clinicians | Density per 10,000 | Where it comes from |
|---|---|---|---|
| Physical, occupational, and speech therapy | 25 | 21.9 | NPPES [2] |
| Chiropractic | 23 | 20.1 | NPPES [2] |
| Primary care and family medicine | 21 | 18.4 | NPPES [2] |
| Optometry and ophthalmology | 16 | 14.0 | NPPES [2] |
| General dentistry | 14 | 12.3 | NPPES [2] |
| Dental specialties | 12 | 10.5 | NPPES [2] |
| Behavioral and mental health group practices | 8 | 7.0 | NPPES [2] |
| DME and HME suppliers | 7 | 6.1 | NPPES [2] |
| Independent pharmacy | 5 | 4.4 | NPPES [2] |
| Home health | 4 | 3.5 | NPPES [2] |
| ASCs and OBLs | 3 | 2.6 | NPPES [2] |
| Audiology and hearing centers | 3 | 2.6 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 3 | 2.6 | NPPES [2] |
| ABA and autism therapy | 2 | 1.8 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 2 | 1.8 | NPPES [2] |
| Podiatry | 1 | 0.9 | NPPES [2] |
| Dermatology | 1 | 0.9 | NPPES [2] |
| Urgent care | 1 | 0.9 | NPPES [2] |
| Imaging centers | 1 | 0.9 | NPPES [2] |
| Hospice and palliative | 1 | 0.9 | NPPES [2] |
| Clinical and toxicology labs | 1 | 0.9 | NPPES [2] |
| Dialysis and infusion centers | 1 | 0.9 | NPPES [2] |
| Medical equipment suppliers | 8 | CMS [4] | |
| Hospice providers | 1 | CMS [4] | |
| Dialysis facilities | 1 | CMS [4] | |
| Home health agencies | 1 | CMS [4] |
Physical, occupational, and speech therapy carries 25 of the 155 enumerated providers here, and several of them can sit inside one practice. Read the column as clinicians, not owners.
What lenders have already approved in Clay County
0 healthcare approvals sit in the county file, so an appraiser here works from a short comparable set
| What it measures | Value | How to read it |
|---|---|---|
| Approvals on record | 0 | Counted for the fiscal year the SBA publishes [5] |
| Total approved capital | $0 | Everything approved to healthcare borrowers, added up [5] |
| Mean deal size | No approvals recorded | The dollar column over the approval column [5] |
| Lenders sited in the county | 16 | Places that write credit locally, NAICS 522 [6] |
Reading Spencer the way a credit committee does
Underwriting starts with 135.8 providers per 10,000 residents, because that ratio caps how fast a chair or a room fills. Clay County has 0 approvals to compare against, so plan for extra appraisal time and a conservative valuation. Household income of $57,068 in Spencer is the number a lender uses to sanity check the self-pay share of a revenue projection.
Where a file from this town usually lands
- Practice acquisition
- Startup and de novo
- Equipment financing and leasing
- Working capital term loan
- Expansion, relocation, and build-out
The order comes from Spencer's own provider mix, which physical, occupational, and speech therapy dominates at 16 percent. What a partner can actually place in Iowa is a separate question.
The first pages of a Spencer file
What a funder opens first depends on the field. In Spencer that means physical, occupational, and speech therapy, chiropractic, primary care and family medicine.
| Field | What the file turns on | The capital event behind most requests |
|---|---|---|
| Physical, occupational, and speech therapy (25) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| Chiropractic (23) | Cash plan revenue, Personal injury receivable age, Visit volume | Startup or acquisition |
| Primary care and family medicine (21) | Panel size, Value-based contract exposure, Provider productivity | Acquisition |
Local counts come from NPPES. What a file turns on is drawn from how the field is generally reviewed, not from any decision about your practice.
How Spencer prices against its neighbors
Set Spencer's 135.8 per 10,000 against the towns an appraiser would reach for next
| Market | Population | Clinicians | Density per 10,000 | Distance in miles |
|---|---|---|---|---|
| Spencer (current) | 11,418 | 155 | 135.8 | |
| Storm Lake | 11,627 | 111 | 95.5 | 35 |
| Le Mars | 10,674 | 98 | 91.8 | 57 |
| Fort Dodge | 24,886 | 228 | 91.6 | 66 |
| Carroll | 10,125 | 132 | 130.4 | 76 |
| Boone | 12,461 | 77 | 61.8 | 99 |
| Ames | 69,026 | 473 | 68.5 | 109 |
What the geography does to a Spencer projection
77 miles separate Spencer from Sioux City, IA-NE-SD. Equipment sold at that distance has no local buyer, and the advance rate carries the discount. At $57,068 median household income, the elective and cash-pay share of a projection is the line that gets tested first. Because a certified hospital sits inside the town, both the referral path and the pay a clinical hire expects are already observable. Spencer is the Clay County seat, so county employment steadies the payer mix.
More of Iowa
- Storm Lake 11,627 residents
- Le Mars 10,674 residents
- Fort Dodge 24,886 residents
- Carroll 10,125 residents
- Boone 12,461 residents
- Ames 69,026 residents
Questions from Spencer
01How many providers practice in Spencer, and in what?
NPPES lists 155 providers at a Spencer practice address, 135.8 per 10,000 residents across 22 tracked fields. Physical, occupational, and speech therapy accounts for 25 of them, 16 percent of the total, with chiropractic next at 23. Read that as clinicians: 155 enumerations, not 155 owners.
02Does being 77 miles out change the underwriting?
At 77 miles from Sioux City, IA-NE-SD, collateral is priced without a nearby resale market. Expect a longer appraisal window in Clay County and a wider discount on used equipment than a metro practice would see on the same list.
03What does Clay County's shortage designation change?
HRSA designates Clay County for primary care, dental, mental health. That opens loan repayment programs for clinicians recruited into Spencer and evidences a staffing ramp in a 11,418 resident market.
04Why does Clay County show so little SBA activity?
Clay County shows 0 approvals in the SBA healthcare file, which means an appraiser reaches outside the county for comparables. Few sales, not weak credit, is the usual reason. 16 lending establishments operate locally.
05How does the hospital in Spencer affect a practice file?
A Medicare-certified hospital operates in the town, which gives referral flow, a call schedule, and a clinical labor pool a funder can verify. 3 Medicare-certified providers are located here in total. It also sets the wage floor behind every hire in a 135.8 per 10,000 market.
06What does a $57,068 median income mean for case acceptance?
Median household income in Spencer runs $57,068. On elective and cash-pay work that is the number a funder converts into case acceptance, and it sets how much of a treatment plan a projection can assume gets started rather than deferred.
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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