Heartland Billing Services L.L.C.
How we got $984K
Based on its 8 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- In business 20 years (since 2006)
From public records and the company's website, not a statement that it's for sale.
What they do
Heartland Billing LLC provides outsourced medical billing management, including claim submission, A/R follow-up and payment posting, for physician practices. It states it has over 20 years of experience in medical billing.
From the company's website. Industry: All Other Business Support Services.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- HEARTS FOR HEARING FOUNDATION · Oklahoma City, 19 mi · $22.1M
- SOUTEHR PLAINS TREATMENT SERVICES, INC. · Norman, 19 mi · $12.2M
- THERAPY LINK, INC · Norman, 21 mi · $10.1M
- Behavioral Innovations · Yukon, 25 mi · $10.0M
- SENSATIONAL KIDS, INC. · Edmond, 16 mi · $7.9M
Estimated value over time
▲ 21% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| HEARTLAND BILLING SERVICES L.L.C. this business | $1.4M | — |
| Young and Associates CPAs Choctaw | $736K | 0.0 mi |
| R TODD YOUNG CPA PLLC Choctaw · 5 employees | $902K | 0.1 mi |
| Zoe Haskins Cpa Choctaw | $736K | 0.9 mi |
| Josh Benefield CPA PLLC Choctaw | $736K | 1.3 mi |
| ANN BELFLOWER CPA PC Choctaw · 2 employees | $341K | 1.8 mi |
| Zoe Haskins, Cpa, P.c. Choctaw | $736K | 1.8 mi |
The full calculation
| Employees reported to the SBA | 8 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $1.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $1.5M |
| Estimate: the two combined (geometric mean) | $1.4M |
| EBITDA margin (industry, adjusted for size) | 20% |
| EBITDA = revenue × margin | $281K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $984K |
| Multiple for this size and industry | 3.5× |
| Value range | $518K – $1.3M |
| Revenue range | $932K – $1.6M |
| EBITDA range | $185K – $321K |
| Industry (NAICS) | All Other Business Support Services (561499) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
“Founded in 2006 by a RN who saw the need for high quality medical billing services, Heartland Billing Services provides physician billing to any size practice, specializing in Dermatology, Chiropractic, Psychiatric, and OB/GYN; but we also have physicians in a variety of other disciplines.”
Advisors
- BankingBancFirstPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| BancFirst PPP 2020, PPP 2021 | All 7,048 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/9/2020 | first | $76K | 8 |
| 1/27/2021 | second | $76K | 7 |
2 locations
| 1917 Commerce | Choctaw | This listing |
| 3700 N Classen Blvd Ste C55 | Oklahoma City | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Heartland Billing Services L.L.C.
Heartland Billing Services L.L.C. is an all other business support services company in Choctaw, Oklahoma, in business since 2006. Its estimated annual revenue is about $1.4M, with roughly $281K of EBITDA. It has about 8 employees. Its estimated business value is $984K (likely range $518K–$1.3M). It has 2 locations.
Common questions
- Who owns Heartland Billing Services L.L.C.?
- The owner of Heartland Billing Services L.L.C. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Heartland Billing Services L.L.C. make?
- SeeBITDA estimates Heartland Billing Services L.L.C.'s annual revenue at about $1.4M (likely between $932K and $1.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Heartland Billing Services L.L.C. worth?
- About $984K, roughly 3.5× its estimated EBITDA of $281K, typical for a all other business support services company its size. Likely range: $518K–$1.3M.
- How many employees does Heartland Billing Services L.L.C. have?
- About 8, as reported on its PPP loan.
- When was Heartland Billing Services L.L.C. founded?
- Heartland Billing Services L.L.C. has been in business since 2006.