If you are managing a hospital or medical center, then you know how tough it is to decide whether you should spend cash to purchase those expensive medical equipments, or opt to lease or rent them. Medical facilities are almost always cash-strapped because services of medical personnel are expensive, and so are other medical consumables. In addition, such facilities have to spend considerable amounts towards maintenance because of stipulated standards. At such times, it is tempting to avoid spending on medical equipments, especially because recovering their costs can take ages.

Why Are Medical Equipments Expensive?

Designing medical equipments is not easy. The person designing such equipments should be aware of medical as well as engineering constraints apart from new developments in these fields. In addition, there are material constraints because human body cannot tolerate any and every material. Precision is also an important factor in these equipments because if the equipment fails, then the patient could sue the medical facility, and the medical facility in turn could sue the medical equipment manufacturer. Obviously, the person designing such equipments has to be highly skilled and knowledgeable person, consequently his or her services are extremely expensive. Usually, fewer units of such equipments are manufactured because new technologies can make such equipment obsolete within a short time. A number of medical equipments are voluminous, and therefore, storing and transporting them can be an issue, especially if it is likely to affect their performance. Therefore, it is hard to find medical equipments that are affordable, unless technologies in them are outdated.

When Does Medical Equipments Leasing Make Sense?

With technologies emerging rapidly in all spheres of life, Medical Equipment Leasing becomes a sensible option if your facility requires such equipment frequently and yet there is the danger of the medical equipment becoming obsolete. Lease or rent allows your medical facility to pay small charges for using such equipment. There are terms and conditions for terminating the lease, and the lease term can be predefined. In addition, lease charges are often less when compared to the cost of purchasing such equipment. Therefore, the facility can take more than one such equipment on lease, or opt for different types of equipments useful for different medical treatments and diagnostics.

Effectively, the range of services that your medical facility can offer increases considerably with leasing option. Selecting the equipment lease is an important chore. Many medical equipment leasing contracts let medical facilities select the equipment from a range of such equipments. This would not be possible if the equipment was purchased outright because your facility would have little choice but to manage with the single equipment, and if it gave trouble, complaining and following up with the equipment manufacturer would be the only course available to you. It is also possible to purchase the equipment at a nominal cost at the end of the lease. Selecting the equipment lease is, therefore, an important chore.

When Does Medical Equipments Financing Make Sense?

Not all medical equipments are prone to technological changes. Therefore, there are centrifuges, air conditioners, ovens, burners, washing machines, x-ray machines, computer software, stretchers, wheelchairs, etc., which are required regularly in the medical facilities. However, purchasing such equipment outright can block a lot of money, which may be necessary as working capital, especially in the initial stages of the hospital business. At times, the medical facility may not have the required finance. Opting for medical equipment financing can help you to procure such equipments, and also repay such loan over a longer period in smaller monthly installments. In the long run, purchasing medical equipments in this way is cheaper because over a period, the value or purchasing power of money comes down. In the process, the interest rate that is charged for such financing becomes negligible because of inflation. Moreover, availing such finance enables the medical facility to establish the business in the initial stages and then pay from future earnings, which are invariably higher.


Not everybody is eligible for medical equipments lease or finance. If contemplating any lease or finance for medical equipments, you can start by asking equipment dealer for information, or you could go to LeaseQ and get an instant quote without any charges. click here for a free quote.

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