Minnesota micro-market
Healthcare practice financing in Hibbing, Minnesota
Direct answer
15,940 residents, 152 enumerated clinicians, 95.4 per 10,000, 20 percent of them in physical, occupational, and speech therapy: that is the Hibbing market a funder prices. St. Louis County adds 9 healthcare approvals worth $5,287,300 and 58 miles of distance to Duluth, MN-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 Minnesota, and how many partners see it, is set out on the Minnesota page.
- Population: 15,940 residents (10K-25K band)1
- Healthcare providers registered here: 152 across 22 fields2
- Median household income: $55,4633
- Largest provider field: Physical, occupational, and speech therapy: 31 registered providers2
- Medicare-certified providers in town: 4 across 3 categories4
- Nearest metro: Duluth, MN-WI, 58 miles1
The clinical base a lender can verify here
Counted at the town's own addresses: 152 providers, 22 fields, 95.4 clinicians per 10,000 of the 15,940 residents here
| Specialty | Enumerated clinicians | Density per 10,000 | Where it comes from |
|---|---|---|---|
| Physical, occupational, and speech therapy | 31 | 19.4 | NPPES [2] |
| Primary care and family medicine | 28 | 17.6 | NPPES [2] |
| General dentistry | 23 | 14.4 | NPPES [2] |
| Chiropractic | 9 | 5.6 | NPPES [2] |
| Specialty physician groups | 8 | 5.0 | NPPES [2] |
| Optometry and ophthalmology | 8 | 5.0 | NPPES [2] |
| Home health | 6 | 3.8 | NPPES [2] |
| Independent pharmacy | 6 | 3.8 | NPPES [2] |
| Non-medical home care | 5 | 3.1 | NPPES [2] |
| Behavioral and mental health group practices | 5 | 3.1 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 5 | 3.1 | NPPES [2] |
| DME and HME suppliers | 4 | 2.5 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 3 | 1.9 | NPPES [2] |
| Dental specialties | 2 | 1.3 | NPPES [2] |
| Med spa and aesthetics | 2 | 1.3 | NPPES [2] |
| Podiatry | 1 | 0.6 | NPPES [2] |
| Urgent care | 1 | 0.6 | NPPES [2] |
| SUD treatment and residential | 1 | 0.6 | NPPES [2] |
| NEMT and ambulance | 1 | 0.6 | NPPES [2] |
| Audiology and hearing centers | 1 | 0.6 | NPPES [2] |
| Hospice and palliative | 1 | 0.6 | NPPES [2] |
| Dialysis and infusion centers | 1 | 0.6 | NPPES [2] |
| Medical equipment suppliers | 7 | CMS [4] | |
| Home health agencies | 2 | CMS [4] | |
| Hospice providers | 1 | CMS [4] | |
| Dialysis facilities | 1 | CMS [4] |
A single Hibbing practice can hold more than one of these numbers. 20 percent sit in physical, occupational, and speech therapy, counted as clinicians rather than as owners.
St. Louis County approvals, dollars, and lending establishments
With 9 healthcare approvals recorded, St. Louis County gives a valuation almost nothing local to lean on.
| Line | Amount | Reading and source |
|---|---|---|
| Healthcare files approved | 9 | Fiscal year published in the SBA file [5] |
| Dollars behind them | $5,287,300 | Sum of approvals to healthcare borrowers [5] |
| Typical approval size | $587,478 | Dollars divided by approvals [5] |
| Credit offices operating locally | 123 | Credit intermediation establishments, NAICS 522 [6] |
The consequence of these numbers
Density of 95.4 per 10,000 sets the patient draw a projection can claim without an argument. With 9 approvals on record in St. Louis County, expect a longer appraisal and a wider collateral discount. With $55,463 as the median household income, the payer mix in a projection has to match what Hibbing households actually spend.
Programs the Hibbing mix reaches for
- Practice acquisition
- Startup and de novo
- Expansion, relocation, and build-out
- Equipment financing and leasing
- Working capital term loan
Weighted by how often each of the 22 local fields reaches for a program, not by what is easiest to refer. Minnesota rules and the partner decide availability.
Underwriting by field in Hibbing
What a funder opens first depends on the field. In Hibbing that means physical, occupational, and speech therapy, primary care and family medicine, general dentistry.
| Field | What the file turns on | The capital event behind most requests |
|---|---|---|
| Physical, occupational, and speech therapy (31) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| Primary care and family medicine (28) | Panel size, Value-based contract exposure, Provider productivity | Acquisition |
| General dentistry (23) | Three years of collections history, Hygiene as a share of collections, Overhead ratio and owner add-backs | Acquisition of an established practice |
Counts in the first column are Hibbing providers from NPPES. The other two columns describe how funders read that field across markets like Hibbing, not what any funder will do with your file.
How Hibbing prices against its neighbors
The neighboring markets below are the ones a valuation borrows from when Hibbing has too few sales of its own
| Comparable | People | Enumerations | Per 10,000 residents | Miles |
|---|---|---|---|---|
| Hibbing (current) | 15,940 | 152 | 95.4 | |
| Grand Rapids | 11,244 | 258 | 229.5 | 29 |
| Cloquet | 12,475 | 122 | 97.8 | 51 |
| Hermantown | 10,265 | 111 | 108.1 | 53 |
| Duluth | 87,986 | 1,422 | 161.6 | 57 |
| Bemidji | 15,733 | 359 | 228.2 | 91 |
| Brainerd | 14,400 | 242 | 168.1 | 93 |
What the geography does to a Hibbing projection
Duluth, MN-WI lies 58 miles from Hibbing, close enough for rent comparables to travel and far enough that patient draw does not. Median household income runs $55,463, which is the number a funder converts into case acceptance on anything elective or cash-pay. Because a certified hospital sits inside the town, both the referral path and the pay a clinical hire expects are already observable. Higher education here explains why summer looks unlike the rest of the year.
Nearby Minnesota towns
- Grand Rapids 11,244 residents
- Cloquet 12,475 residents
- Hermantown 10,265 residents
- Duluth 87,986 residents
- Bemidji 15,733 residents
- Brainerd 14,400 residents
Questions from Hibbing
01How many providers practice in Hibbing, and in what?
NPPES lists 152 providers at a Hibbing practice address, 95.4 per 10,000 residents across 22 tracked fields. Physical, occupational, and speech therapy accounts for 31 of them, 20 percent of the total, with primary care and family medicine next at 28. Read that as clinicians: 152 enumerations, not 152 owners.
02Why does St. Louis County show so little SBA activity?
Only 9 healthcare approvals appear for St. Louis County in the published 7(a) and 504 file. Thin volume in St. Louis County is a transaction count, not a verdict on borrowers here. The county still holds 123 credit intermediation establishments.
03What does St. Louis County's shortage designation change?
The primary care, dental, mental health designation HRSA carries on St. Louis County is a recruiting instrument: it puts repayment incentives in front of candidates, which is how a hiring plan for 15,940 residents gets past the question of who would take the job.
04How does the hospital in Hibbing affect a practice file?
Referral flow, coverage, and the local pay scale all trace back to it. The town carries 4 Medicare-certified providers in total. A Hibbing projection that names the call arrangement reads better than one that assumes it.
05What does a $55,463 median income mean for case acceptance?
Median household income in Hibbing runs $55,463. 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.
06Which fields carry the volume in Hibbing?
Volume concentrates in physical, occupational, and speech therapy, 31 of them, ahead of primary care and family medicine at 28, across 22 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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