Supporting Operational Costs for Your Medical Practice
Running a successful medical practice is about more than just providing excellent care. It also requires consistent management of operational costs—from payroll and rent to medical supplies and administrative expenses. For many healthcare providers, especially in the early stages of growth or during times of economic fluctuation, accessing working capital can keep things running efficiently. Fortunately, strategic financing options like SBA loans can provide the support your practice needs.
What Are Operational Costs in a Medical Practice?
Operational costs refer to the recurring expenses required to run your business day-to-day. For medical and dental practices, urgent care centers, podiatrists, med spas, and other healthcare providers, these costs can include:
- Employee salaries and benefits
- Office rent or mortgage
- Equipment leases or purchases
- Medical and office supplies
- Insurance premiums
- Utility bills and software subscriptions
Marketing and patient acquisition
While these expenses are predictable, they can fluctuate based on seasonality, patient volume, or unforeseen changes such as new regulations or supply chain issues.
How Financing Can Help Stabilize Operations
To manage these costs, many healthcare professionals turn to financing options like SBA 7(a) loans or lines of credit. These funds can be used to bridge revenue gaps, invest in new technology, or scale operations without disrupting service quality.
Why SBA Loans Are a Smart Option
Low Interest Rates
SBA loans offer competitive rates compared to traditional loans, making them a cost-effective choice.
Flexible Repayment Terms
With terms up to 10 years for working capital, SBA loans give practices the breathing room to repay over time without squeezing monthly budgets.
Funds Can Be Used for a Variety of Needs
Compared to traditional loans, SBA loans can be used for nearly any operational expense, from hiring new staff to upgrading your EMR system.
No Prepayment Penalty
If your cash flow improves and you want to pay down your loan early, SBA loans generally allow it without fees—adding flexibility.
Plan for the Long-Term with the Right Partner
Even the most successful practices can face temporary shortfalls. By planning ahead and working with healthcare-focused lenders like ProMed Financial, you can ensure your practice has access to the capital it needs—not just to survive, but to thrive. ProMed can help tailor a financing solution that aligns with your goals and ensures you’re well-positioned for sustainable growth.