Hazelgate Capital places medical practice loan requests from Bartlesville, Oklahoma with funding partners. Washington County, OK had 31 physician offices with payroll in 2023. This page covers physician practice loans, leasing medical equipment, NAICS codes, urgent care financing, practice lines of credit and the cost of a medical office build-out.
At a glance
- Physician offices with payroll
31, with 305 employees (County Business Patterns 2023)
- Annual payroll, physician offices
$32.8 million (County Business Patterns 2023)
- Health care and social assistance employers
173, the most of any sector (County Business Patterns 2023)
Physician practice loans near Bartlesville, OK: what lenders review
County Business Patterns counted 31 offices of physicians (NAICS 6211) with paid employees in Washington County, OK in 2023, with 305 employees and $32.8 million in annual payroll, about $107,436 per employee (our arithmetic). Fewer than five people worked at 17 of those offices (54.8%). Nonemployer Statistics, a separate program, counted 25 physician practices without paid employees for 2024.
What lenders review in a physician practice request:
- Monthly collections and the accounts receivable aging report, by payer.
- Bank statements and the practice's latest tax return.
- Each physician owner's credit and, where asked, licensure and board status.
- The payer mix: how much revenue comes from each insurer and from patients directly.
- For a purchase or buy-in, the practice valuation and the purchase agreement.
Medical equipment leasing for Bartlesville, OK practices: lease or own
Leasing medical equipment keeps the lessor as owner while the practice uses the item, with an option at the end to buy, return or upgrade. That suits imaging and diagnostic units that a practice may want to replace as technology changes. Owning through an equipment loan suits exam tables, autoclaves and furniture that last.
Illustration only, invented figures: an $84,000 digital X-ray system financed over 60 months at an invented annual rate of 8.5% costs about $1,723 a month (our arithmetic). A fair market value lease on the same unit would carry lower payments and a buyout at the end; ask for both and compare total dollars.
Which NAICS code a Bartlesville, OK practice files under, and why lenders ask
Lenders and credit reports classify a business by its NAICS code, and the code shapes how an industry's risk is read. Offices of physicians are NAICS 6211, offices of dentists 6212, and offices of chiropractors, optometrists, therapists and other practitioners 6213; home health care services are 6216. The Census counts on this page use those codes.
Counted by code, Washington County, OK had 31 physician offices (6211), 16 dental offices (6212), 36 other practitioner offices (6213) and 10 home health providers (6216) with payroll in 2023 (County Business Patterns 2023).
A practice's code appears on its tax filings and in business credit files. If a lender's form asks for it, use the code on the return, so the request is read against the right industry.
Urgent care financing: questions Bartlesville, OK clinic owners ask
Urgent care clinics add X-ray and lab equipment to the exam rooms of a physician office, and see walk-in patients who may pay at the visit alongside insured ones. Owners comparing financing ask:
- Can the X-ray, lab and exam equipment be financed together? A single equipment package is common, with one vendor quote.
- Can a build-out be funded? A term loan sized to the contractor's bid can be, with the lease as part of the file.
- How is the claims lag covered? A line of credit tied to receivables, drawn while insurers pay.
- What if the clinic is new? Partners read the owners' track record and may want a larger equity share.
Medical practice line of credit loan for Washington County, OK businesses
A medical practice line of credit is a revolving limit drawn while claims are in process and repaid as payments arrive. Illustration only, invented figures: a Bartlesville, OK practice switches its billing system and claims slow for a quarter, leaving $65,000 of payroll and rent to bridge. A line covers it, and the practice repays the draws as the delayed claims are paid. In this invented example a term loan would leave the practice paying interest after the backlog cleared.
Business lines of credit explains limits and renewals, and the secured or unsecured article covers collateral and terms.
Medical office build out costs in Bartlesville, OK
Build-out costs depend on the space, its existing plumbing and the rooms required, so start from a contractor's bid rather than a rule of thumb. Illustration only, invented figures: a 1,800-square-foot medical suite at an invented $120 per square foot totals $216,000 (our arithmetic). Financed over 84 months at an invented annual rate of 10%, the payment is about $3,586 a month. In this invented example the landlord's improvement allowance, if any, comes off the total first.
Before signing a lease for a new suite, check zoning and building code steps with the City of Bartlesville; the zoning and building code guide lists them. Equipment financing covers what goes into the rooms.
By Hazelgate Capital · Updated
