Medical practice financing in Plainview, TX splits three ways. Exam-room equipment such as tables, diagnostic sets and an EKG unit fits equipment financing; buying an established practice from a retiring owner fits a term loan sized to the price; payroll during insurance claim waits fits working capital. Cliffway Funding Group sends the request on, and a funding partner decides whether to make an offer.
Clinics pay for equipment, payroll and practice purchases in different ways: equipment financing for devices, working capital for claim waits, a term loan for buying a practice. Building work and the building itself are outside this site.
Medical Practice Loans: What Plainview, TX Physician Practices Should Know
"Medical practice loans" covers several products, and the purchase decides which one applies. A device with a model number and a working life, such as an exam table, an autoclave or a spirometer, fits equipment financing, where the device can secure the payment. Buying a practice, with its records and goodwill, fits a term loan. Payroll while claims are pending fits working capital.
Some clinic costs are outside this site. New walls, a sink with its plumbing, electrical runs and built-in casework are building work; movable equipment and furnishings are what a request here can cover.
Physician offices in the county are small employers on paper: County Business Patterns counted 13 offices of physicians with paid staff in Hale County, TX in 2023, and every one of the 13 had fewer than five employees.
Physician Practice Loans and Insurance Claim Waits: Payroll for a Plainview, TX Office
The patient is seen on Monday; the insurer's check for that visit can take weeks to arrive. Payroll does not wait for the claim, so a practice carries its wages across the gap. Working capital, as a loan or as a line drawn when each gap opens, is built for that stretch.
Illustration only, invented figures: a family practice runs $14,200 of payroll every two weeks and sees claims paid 52 days after the visit. Count the pay runs: with paydays two weeks apart, a 52-day wait covers no fewer than 3 of them and no more than 4, so in this example $42,600 to $56,800 of wages goes out before the first of those claims is paid.
The claims aging report, recent bank statements and the mix of payers are the records a partner may ask for here. In Hale County, TX, the 69 Health Care and Social Assistance establishments with paid staff had $47.1 million of annual payroll in 2023, a total for all 69 of them (County Business Patterns).
Buying a Physician Practice When a Plainview, TX Medical Practice Needs Exam Tables
Buying an established practice from a retiring physician is a request of its own. The equipment, the patient records, the practice name and its goodwill change hands together, and a term loan can be sized to the purchase price. A seller who holds title to the clinic building sells it in a separate real-estate deal, and this site has no part in that one.
Illustration only, invented figures: a practice sells for $160,000, of which $46,000 is equipment and $114,000 is records and goodwill. Spread across 96 monthly payments with 10.75% as the invented yearly rate, each payment in this example is $2,491.82, or $239,214.72 for the whole term.
Worn exam tables can be replaced soon after the keys change hands. In this example, the buyer replaces 3 tables at $4,850 each, $14,550 together, on a separate equipment request over 60 months at an invented 9.25%: 60 payments of $303.80.
Paperwork Hale County, TX Clinic Owners Pull Together First
The paperwork depends on the request. For equipment, a partner may want:
- The vendor quote, with the model, the price and the delivery and setup costs
- Recent bank statements for the practice
- The claims aging report and a summary of payers, if payroll is part of the request
For a practice purchase, the list gets longer:
- The signed letter of intent, or the purchase agreement as it stands in draft
- The seller's list of equipment that comes with the sale
- Financial statements and tax returns for the years the seller can share
- The clinic's lease, with the years left on it and whether it can pass to the buyer
The health care practices page covers Hale County, TX clinic counts and equipment by type of practice, and the Plainview, TX page sets out ZIP 79072 counts by sector. Separately from the employer counts, Nonemployer Statistics for 2024 lists 131 health care and social assistance businesses in the county with no paid employees.
By Cliffway Funding Group · Updated
