Minnesota micro-market
Healthcare practice financing in Andover, Minnesota
Direct answer
A Andover file is read against 219 local clinicians, 65.5 for every 10,000 of its 33,426 residents, 55 percent of them in physical, occupational, and speech therapy, plus the 6 SBA healthcare approvals worth $2,275,200 already recorded in Anoka County, 20 miles from Minneapolis-St. Paul-Bloomington, MN-WI.
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- Population: 33,426 residents (25K-50K band)1
- Healthcare providers registered here: 219 across 19 fields2
- Median household income: $131,5283
- Largest provider field: Physical, occupational, and speech therapy: 121 registered providers2
- Nearest metro: Minneapolis-St. Paul-Bloomington, MN-WI, 20 miles1
- SBA healthcare approvals in the county: 6 approvals totaling $2,275,2004
Fields practicing inside Andover
Counted at the town's own addresses: 219 providers, 19 fields, 65.5 clinicians per 10,000 of the 33,426 residents here
| Practice type | Count | Rate per 10,000 residents | Published by |
|---|---|---|---|
| Physical, occupational, and speech therapy | 121 | 36.2 | NPPES [2] |
| Primary care and family medicine | 17 | 5.1 | NPPES [2] |
| Chiropractic | 15 | 4.5 | NPPES [2] |
| Home health | 14 | 4.2 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 9 | 2.7 | NPPES [2] |
| DME and HME suppliers | 7 | 2.1 | NPPES [2] |
| Non-medical home care | 5 | 1.5 | NPPES [2] |
| Optometry and ophthalmology | 5 | 1.5 | NPPES [2] |
| General dentistry | 4 | 1.2 | NPPES [2] |
| Independent pharmacy | 4 | 1.2 | NPPES [2] |
| Behavioral and mental health group practices | 4 | 1.2 | NPPES [2] |
| Dental specialties | 3 | 0.9 | NPPES [2] |
| Occupational health and drug testing | 3 | 0.9 | NPPES [2] |
| Audiology and hearing centers | 2 | 0.6 | NPPES [2] |
| Specialty physician groups | 2 | 0.6 | NPPES [2] |
| Urgent care | 1 | 0.3 | NPPES [2] |
| Hospice and palliative | 1 | 0.3 | NPPES [2] |
| Med spa and aesthetics | 1 | 0.3 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 1 | 0.3 | NPPES [2] |
| Medical equipment suppliers | 8 | CMS [5] |
A single Andover practice can hold more than one of these numbers. 55 percent sit in physical, occupational, and speech therapy, counted as clinicians rather than as owners.
What Anoka County credit files already show
With 6 healthcare approvals recorded, Anoka County gives a valuation almost nothing local to lean on
| Line | Amount | Reading and source |
|---|---|---|
| Healthcare files approved | 6 | Counted for the fiscal year the SBA publishes [4] |
| Dollars behind them | $2,275,200 | Everything approved to healthcare borrowers, added up [4] |
| Typical approval size | $379,200 | The dollar column over the approval column [4] |
| Credit offices operating locally | 147 | Places that write credit locally, NAICS 522 [6] |
What the two tables above change about a file
Density of 65.5 per 10,000 sets the patient draw a projection can claim without an argument. A short county record of 6 approvals usually means more documentation and a lower advance against the same collateral. With $131,528 as the median household income, the payer mix in a projection has to match what Andover households actually spend.
Programs the Andover mix reaches for
- Practice acquisition
- Startup and de novo
- Working capital term loan
- Medical receivables factoring
- Equipment financing and leasing
Built from what is enumerated here rather than from a national list, so a field with no presence in Andover does not appear. Availability is still a Minnesota question.
Underwriting by field in Andover
Drawn from the fields that actually practice here: physical, occupational, and speech therapy, primary care and family medicine, chiropractic
| Specialty | Read first in underwriting | Why the money is usually needed |
|---|---|---|
| Physical, occupational, and speech therapy (121) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| Primary care and family medicine (17) | Panel size, Value-based contract exposure, Provider productivity | Acquisition |
| Chiropractic (15) | Cash plan revenue, Personal injury receivable age, Visit volume | Startup or 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 Andover prices against its neighbors
65.5 per 10,000 is the figure a neighboring town gets compared against when an appraiser prices Andover
| Comparable | People | Enumerations | Per 10,000 residents | Miles |
|---|---|---|---|---|
| Andover (current) | 33,426 | 219 | 65.5 | |
| Anoka | 18,068 | 257 | 142.2 | 4 |
| Coon Rapids | 63,807 | 683 | 107.0 | 5 |
| Champlin | 23,045 | 139 | 60.3 | 6 |
| Ramsey | 28,999 | 83 | 28.6 | 6 |
| Ham Lake | 16,905 | 37 | 21.9 | 7 |
| Dayton | 10,744 | 18 | 16.8 | 8 |
Distance, income, and the wage floor around Andover
Minneapolis-St. Paul-Bloomington, MN-WI lies 20 miles from Andover, close enough that appraisers price the lease against Minneapolis-St. Paul-Bloomington, MN-WI rents while 33,426 residents set the revenue ceiling. Households here carry $131,528 in median income, and that ceiling decides how much of a treatment plan gets started rather than deferred. With no hospital in town, a projection has to name where referrals and coverage come from.
Nearby Minnesota towns
Questions from Andover
01How many providers practice in Andover, and in what?
219 enumerations sit at Andover addresses in the monthly NPPES file, working out to 65.5 for every 10,000 residents. 55 percent of them are physical, occupational, and speech therapy, and primary care and family medicine follows with 17. An enumeration is a clinician, so the 219 here cover fewer than 219 practices.
02What does Anoka County's shortage designation change?
Anoka County holds a HRSA designation covering primary care, dental, mental health. A pro forma for Andover can cite it as the reason a vacancy is fillable, which is usually the weakest line in a ramp schedule.
03Why does Anoka County show so little SBA activity?
Anoka County shows 6 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. 147 lending establishments operate locally.
04Is Andover underwritten as part of Minneapolis-St. Paul-Bloomington, MN-WI?
Partly. Minneapolis-St. Paul-Bloomington, MN-WI is 20 miles out, so rent and equipment comparables travel in from there while patients still come from the 33,426 residents around Andover. Cost side metro, revenue side local.
05What does a $131,528 median income mean for case acceptance?
Median household income in Andover runs $131,528. 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.
06Is there local lending capacity in Anoka County?
County Business Patterns records 147 credit intermediation establishments in Anoka County. That is the local origination bench, and it decides whether a file gets underwritten by somebody who has seen Andover rents and resale before or by somebody working from a screen.
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
- 4U.S. Small Business Administration, 7(a) and 504 approvals
- 5CMS Care Compare provider datasets
- 6U.S. Census Bureau, County Business Patterns 2022
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