South Dakota micro-market
Healthcare practice financing in Spearfish, South Dakota
Direct answer
239 healthcare providers hold a Spearfish practice address, 173.2 per 10,000 of its 13,803 residents, 27 percent of them in physical, occupational, and speech therapy. Lawrence County recorded 2 SBA healthcare approvals worth $301,200, and Rapid City, SD sits 42 miles out.
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- Population: 13,803 residents (10K-25K band)1
- Healthcare providers registered here: 239 across 23 fields2
- Median household income: $59,7313
- Largest provider field: Physical, occupational, and speech therapy: 65 registered providers2
- Medicare-certified providers in town: 3 across 3 categories4
- Nearest metro: Rapid City, SD, 42 miles1
Spearfish clinicians, by field
239 providers across 23 fields, 173.2 per 10,000 residents, counted at Spearfish addresses in the NPPES monthly file
| Field | Providers | Per 10,000 residents | Source |
|---|---|---|---|
| Physical, occupational, and speech therapy | 65 | 47.1 | NPPES [2] |
| Chiropractic | 34 | 24.6 | NPPES [2] |
| Primary care and family medicine | 21 | 15.2 | NPPES [2] |
| Behavioral and mental health group practices | 19 | 13.8 | NPPES [2] |
| Optometry and ophthalmology | 18 | 13.0 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 14 | 10.1 | NPPES [2] |
| DME and HME suppliers | 10 | 7.2 | NPPES [2] |
| General dentistry | 10 | 7.2 | NPPES [2] |
| Occupational health and drug testing | 9 | 6.5 | NPPES [2] |
| Independent pharmacy | 5 | 3.6 | NPPES [2] |
| Specialty physician groups | 5 | 3.6 | NPPES [2] |
| Podiatry | 4 | 2.9 | NPPES [2] |
| Dermatology | 4 | 2.9 | NPPES [2] |
| Home health | 4 | 2.9 | NPPES [2] |
| Dental specialties | 4 | 2.9 | NPPES [2] |
| Audiology and hearing centers | 3 | 2.2 | NPPES [2] |
| Urgent care | 2 | 1.4 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 2 | 1.4 | NPPES [2] |
| Dialysis and infusion centers | 2 | 1.4 | NPPES [2] |
| SUD treatment and residential | 1 | 0.7 | NPPES [2] |
| NEMT and ambulance | 1 | 0.7 | NPPES [2] |
| Hospice and palliative | 1 | 0.7 | NPPES [2] |
| Clinical and toxicology labs | 1 | 0.7 | NPPES [2] |
| Medical equipment suppliers | 9 | CMS [4] | |
| Hospice providers | 1 | CMS [4] | |
| Dialysis facilities | 1 | CMS [4] | |
| Home health agencies | 1 | CMS [4] |
Physical, occupational, and speech therapy carries 65 of the 239 enumerated providers here, and several of them can sit inside one practice. Read the column as clinicians, not owners.
Loan activity in Lawrence County
2 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 |
|---|---|---|
| Healthcare files approved | 2 | Counted for the fiscal year the SBA publishes [5] |
| Dollars behind them | $301,200 | Everything approved to healthcare borrowers, added up [5] |
| Typical approval size | $150,600 | The dollar column over the approval column [5] |
| Credit offices operating locally | 20 | Places that write credit locally, NAICS 522 [6] |
How this data lands in an underwriting decision
At 173.2 clinicians per 10,000 residents, the catchment radius in a projection has to be defended rather than assumed. Lawrence County has 2 approvals to compare against, so plan for extra appraisal time and a conservative valuation. With $59,731 as the median household income, the payer mix in a projection has to match what Spearfish households actually spend.
Where a file from this town usually lands
- Practice acquisition
- Startup and de novo
- Working capital term loan
- Equipment financing and leasing
- Medical receivables factoring
Built from what is enumerated here rather than from a national list, so a field with no presence in Spearfish does not appear. Availability is still a South Dakota question.
What a funder reads first in Spearfish
physical, occupational, and speech therapy, chiropractic, primary care and family medicine account for most of what is enumerated in Spearfish, so those are the files funders see from this town
| Practice type | The pages that decide it | Typical capital event |
|---|---|---|
| Physical, occupational, and speech therapy (65) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| Chiropractic (34) | 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 |
NPPES supplies the Spearfish counts. The reading columns describe the field in general, and no partner reviewing a Spearfish file is bound by them.
How Spearfish prices against its neighbors
173.2 per 10,000 is the figure a neighboring town gets compared against when an appraiser prices Spearfish
| Comparable | People | Enumerations | Per 10,000 residents | Miles |
|---|---|---|---|---|
| Spearfish (current) | 13,803 | 239 | 173.2 | |
| Box Elder | 13,887 | 11 | 7.9 | 45 |
| Pierre | 13,788 | 163 | 118.2 | 172 |
| Aberdeen | 27,919 | 343 | 122.9 | 272 |
| Huron | 14,515 | 99 | 68.2 | 276 |
| Mitchell | 15,621 | 242 | 154.9 | 289 |
| Watertown | 23,492 | 310 | 132.0 | 329 |
Distance, income, and the wage floor around Spearfish
Rapid City, SD lies 42 miles from Spearfish, close enough for rent comparables to travel and far enough that patient draw does not. At $59,731 median household income, the elective and cash-pay share of a projection is the line that gets tested first. Wages here are anchored by the Medicare-certified hospital in town, which is what a staffing line gets measured against. Campus terms, not calendar quarters, set the busy months in Spearfish.
Nearby South Dakota towns
Spearfish owners, answered
01How many providers practice in Spearfish, and in what?
Across 23 fields, Spearfish carries 239 enumerated clinicians, 173.2 per 10,000 of the 13,803 people living here. The concentration is in physical, occupational, and speech therapy, 65 of the total, then chiropractic at 34. Count practices from that only with care.
02What does Lawrence County's shortage designation change?
HRSA designates Lawrence County for primary care, dental, mental health. That opens loan repayment programs for clinicians recruited into Spearfish and evidences a staffing ramp in a 13,803 resident market.
03Why does Lawrence County show so little SBA activity?
Lawrence County shows 2 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. 20 lending establishments operate locally.
04How does the hospital in Spearfish 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 173.2 per 10,000 market.
05What does a $59,731 median income mean for case acceptance?
Median household income in Spearfish runs $59,731. 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 Spearfish?
Volume concentrates in physical, occupational, and speech therapy, 65 of them, ahead of chiropractic at 34, across 23 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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