Fan-beam collimators are designed to improve the system sensitivity and resolution for imaging small objects such as the human brain and breasts in single photon emission computed tomography (SPECT). Many reconstruction algorithms have been studied and applied to this geometry to deal with every kind of degradation factor. This paper presents a new reconstruction approach for SPECT with circular orbit, which demonstrated good performance in terms of both accuracy and efficiency. The new approach compensates for degradation factors including noise, scatter, attenuation, and spatially variant detector response. Its uniform attenuation approximation strategy avoids the additional transmission scan for the brain attenuation map, hence reducing the patient radiation dose and furthermore simplifying the imaging procedure. We evaluate and compare this new approach with the well-established ordered-subset expectation-maximization iterative method, using Monte Carlo simulations. We perform quantitative analysis with regional bias-variance, receiver operating characteristics, and Hotelling trace studies for both methods. The results demonstrate that our reconstruction strategy has comparable performance with a significant reduction of computing time.