Wisconsin micro-market
Healthcare practice financing in Middleton, Wisconsin
Direct answer
A Middleton file is read against 313 local clinicians, 138.7 for every 10,000 of its 22,566 residents, 37 percent of them in physical, occupational, and speech therapy, plus the 14 SBA healthcare approvals worth $5,021,000 already recorded in Dane County, 4 miles from Madison, 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 Wisconsin, and how many partners see it, is set out on the Wisconsin page.
- Population: 22,566 residents (10K-25K band)1
- Healthcare providers registered here: 313 across 25 fields2
- Median household income: $85,5263
- Largest provider field: Physical, occupational, and speech therapy: 117 registered providers2
- Medicare-certified providers in town: 2 across 2 categories4
- Nearest metro: Madison, WI, 4 miles1
What NPPES records at Middleton addresses
Counted at the town's own addresses: 313 providers, 25 fields, 138.7 clinicians per 10,000 of the 22,566 residents here
| Specialty | Enumerated clinicians | Density per 10,000 | Where it comes from |
|---|---|---|---|
| Physical, occupational, and speech therapy | 117 | 51.8 | NPPES [2] |
| Chiropractic | 31 | 13.7 | NPPES [2] |
| General dentistry | 24 | 10.6 | NPPES [2] |
| Optometry and ophthalmology | 24 | 10.6 | NPPES [2] |
| Primary care and family medicine | 15 | 6.6 | NPPES [2] |
| Skilled nursing, assisted living, and memory care | 13 | 5.8 | NPPES [2] |
| DME and HME suppliers | 12 | 5.3 | NPPES [2] |
| Specialty physician groups | 11 | 4.9 | NPPES [2] |
| Behavioral and mental health group practices | 10 | 4.4 | NPPES [2] |
| Home health | 9 | 4.0 | NPPES [2] |
| Ketamine, TMS, and interventional psychiatry | 8 | 3.5 | NPPES [2] |
| Fertility and IVF | 7 | 3.1 | NPPES [2] |
| Dental specialties | 6 | 2.7 | NPPES [2] |
| Non-medical home care | 5 | 2.2 | NPPES [2] |
| Imaging centers | 3 | 1.3 | NPPES [2] |
| Pain management and interventional | 3 | 1.3 | NPPES [2] |
| Audiology and hearing centers | 3 | 1.3 | NPPES [2] |
| ASCs and OBLs | 2 | 0.9 | NPPES [2] |
| Independent pharmacy | 2 | 0.9 | NPPES [2] |
| Hospice and palliative | 2 | 0.9 | NPPES [2] |
| Occupational health and drug testing | 2 | 0.9 | NPPES [2] |
| Podiatry | 1 | 0.4 | NPPES [2] |
| NEMT and ambulance | 1 | 0.4 | NPPES [2] |
| Med spa and aesthetics | 1 | 0.4 | NPPES [2] |
| Plastic and cosmetic surgery | 1 | 0.4 | NPPES [2] |
| Medical equipment suppliers | 10 | CMS [4] | |
| Hospice providers | 1 | CMS [4] | |
| Home health agencies | 1 | CMS [4] |
Several of the 117 physical, occupational, and speech therapy enumerations can belong to one practice, so the column counts clinicians rather than businesses or owners
Dane County approvals, dollars, and lending establishments
14 healthcare approvals averaging $358,643 set the deal shape lenders in Dane County have already underwritten
| Measure | Published figure | What sits behind it |
|---|---|---|
| Approvals on record | 14 | Fiscal year published in the SBA file [5] |
| Total approved capital | $5,021,000 | Sum of approvals to healthcare borrowers [5] |
| Mean deal size | $358,643 | Dollars divided by approvals [5] |
| Lenders sited in the county | 299 | Credit intermediation establishments, NAICS 522 [6] |
The consequence of these numbers
Underwriting starts with 138.7 providers per 10,000 residents, because that ratio caps how fast a chair or a room fills. Because Dane County already carries $5,021,000 across 14 healthcare approvals, a request near that average moves faster than one well above it. Household income of $85,526 in Middleton 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
- Startup and de novo
- Working capital term loan
- Equipment financing and leasing
- Expansion, relocation, and build-out
The 25 fields practicing locally set this order. A funding partner, not this list, decides what is available in Wisconsin.
What a funder reads first in Middleton
What a funder opens first depends on the field. In Middleton that means physical, occupational, and speech therapy, chiropractic, general dentistry.
| Field | What the file turns on | The capital event behind most requests |
|---|---|---|
| Physical, occupational, and speech therapy (117) | Visits per case, Referral source concentration, Payer mix and authorization rules | Startup or expansion clinic |
| Chiropractic (31) | Cash plan revenue, Personal injury receivable age, Visit volume | Startup or acquisition |
| General dentistry (24) | 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 Middleton providers from NPPES. The other two columns describe how funders read that field across markets like Middleton, not what any funder will do with your file.
Middleton against nearby Wisconsin markets
The neighboring markets below are the ones a valuation borrows from when Middleton has too few sales of its own
| Comparable | People | Enumerations | Per 10,000 residents | Miles |
|---|---|---|---|---|
| Middleton (current) | 22,566 | 313 | 138.7 | |
| Waunakee | 16,363 | 101 | 61.7 | 6 |
| Verona | 16,825 | 246 | 146.2 | 8 |
| Fitchburg | 34,357 | 398 | 115.8 | 9 |
| DeForest | 12,260 | 43 | 35.1 | 12 |
| Oregon | 11,895 | 76 | 63.9 | 14 |
| Sun Prairie | 39,253 | 264 | 67.3 | 14 |
What the geography does to a Middleton projection
4 miles separate Middleton from Madison, WI. Lease pricing follows Madison, WI, while revenue stays capped by the 22,566 residents here. At $85,526 median household income, the elective and cash-pay share of a projection is the line that gets tested first. A Medicare-certified hospital operates here, so referral flow is verifiable and the clinical wage floor is already set.
Nearby Wisconsin towns
What owners in Middleton ask
01How many providers practice in Middleton, and in what?
313 enumerations sit at Middleton addresses in the monthly NPPES file, working out to 138.7 for every 10,000 residents. 37 percent of them are physical, occupational, and speech therapy, and chiropractic follows with 31. An enumeration is a clinician, so the 313 here cover fewer than 313 practices.
02What does Dane County's shortage designation change?
Dane County holds a HRSA designation covering primary care, dental, mental health. A pro forma for Middleton can cite it as the reason a vacancy is fillable, which is usually the weakest line in a ramp schedule.
03How does the hospital in Middleton affect a practice file?
Referral flow, coverage, and the local pay scale all trace back to it. The town carries 2 Medicare-certified providers in total. A Middleton projection that names the call arrangement reads better than one that assumes it.
04Which fields carry the volume in Middleton?
Physical, occupational, and speech therapy at 117 providers and chiropractic at 31 lead the 25 fields enumerated here. A funder reads that mix as the local competition set and the local hiring pool at once, before it reads a single line of your own numbers.
05Is Middleton underwritten as part of Madison, WI?
Partly. Madison, WI is 4 miles out, so rent and equipment comparables travel in from there while patients still come from the 22,566 residents around Middleton. Cost side metro, revenue side local.
06What does SBA lending look like around Middleton?
Healthcare borrowers in Dane County took 14 approvals worth $5,021,000 in the published fiscal year, averaging $358,643. That is the comparable set an appraiser near Middleton reaches for first.
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
Our team reviews every request within 1 business day. If a funding partner thinks they can help, a specialist from that partner contacts you to discuss next steps.