Medical Equipment Leasing - An Option To Consider

Frequent changes in the technology world require healthcare practices to stay up to date.  Acquiring newer equipment for your medical practice through a purchase could leave a strain on your cash flow.  Medical equipment leasing has become a preferred method of acquiring newer technology in the medical field.


Running a healthcare practice is anything but cheap. Like most businesses there are operational costs, some of which are fixed, others variable. Payroll, advertising, rent, utilities – these are all mandatory expenses. Waiting on insurance companies to pay up and also pay the actual billed amount in full creates anxiety. It makes sense to leave a cushion in your operating account instead of depleting the funds and hoping that a third party would pay soon.


Medical Equipment Leasing presents multiple benefits to all entrepreneurs in the healthcare industry. First, a lease program would allow you to keep up with technology by giving you access to the latest and newest equipment. It enables you to use the equipment in a cost effective manner until there is no longer a need for its use, or till you decide to upgrade.


As it is widely known, competitiveness in the healthcare field determines your success. Leasing helps you become a top player. No matter how fast newer technology becomes available, you’ll always be able to keep up. This also gives you the opportunity to expense your monthly rental payments instead of depreciating the cost of the equipment. Through leasing, it is possible to get financing without a down payment, which is equivalent to getting 100% financing. This helps healthcare providers conserve the capital they would have paid towards the purchase of a piece of equipment. For some healthcare professionals that have to come up with a little downpayment towards their equipment purchase some often times turn to merchant cash advance as an alternative.


Also, in the acquisition of a sophisticated piece of equipment, which is rather common in the healthcare sector, things like training, support and other services are usually added. These are known as “soft costs”. These costs could be rolled into the total amount financed, hence limiting any initial (direct) out of pocket investment.


No matter what your specialty is – cardiology, dermatology, internal medicine, dentistry, ophthalmology, oncology etc. – all healthcare professionals can take advantage of leasing. The industry in general is quite friendly towards the medical field as a result of the low risk level. Doctors with new/startup practices also benefit from several leasing programs that are available, allowing them to focus on practicing medicine.


It is wise to weigh options before your next acquisition. Like anything else, equipment leasing has its pros and cons, even though the benefits often times do stand out.


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