In order for a medical facility to provide quality health care to its clients, it must have the prerequisite equipment. However, there are several challenges associated with purchasing such equipment which include the hefty costs as well as the risk of the equipment becoming obsolete.
When comparing purchasing and leasing oxygen medical equipment, you would expect that the lease payments should be much lower as compared to the cost that you would have to pay for making a cash purchase of the same equipment. The leasing company can benefit from depreciation deductions that may not be of interest to you, and consequently this benefit is then passed to you as the client in lower costs.
Once the lease period expires, the oxygen medical equipment that you had leased out will most likely have a residual value. This means that the lessor can buy the equipment at the end of the lease or return it for new equipment. As you make a lease or purchase comparison, it is essential to make considerations of the tax benefits that are applicable in every case and also any maintenance costs. For big acquisitions, you should make evaluations of your ability to utilize depreciation now and in the future. In case your analysis indicates the cost difference between purchasing and leasing is extremely tiny, then you should also consider non-economic considerations.
One such consideration is flexibility. The leasing option provides you with alternatives that may come in handy in case your medical facility intends to benefit from the latest technological changes. By doing so, your patients will be provided with high quality health care services. A similar rational is beneficial to any company that is operating in a volatile market and has changing needs or utilized equipments that becomes obsolete quickly.
When you lease oxygen equipment, you pass the risk of collecting and estimating the residual value to the leasing company. Take note that you do not have to find a buyer for the equipment that you intend to replace. However, keep in mind that you pay a fee for transferring this risk, but, since the leasing firm is more active than you are, it will have lower costs and in turn your will be the beneficiary. This is one of the reasons why is makes sense to lease oxygen medical equipment.
When considering medical equipment leasing, you can choose to either take a loan and purchase the equipment that you would need or better still, lease the equipment without having to pay upfront payments. The beauty about leasing is that you do not face the risk of your getting obsolete. Also, you can use your working capital to handle other issues. If you would like to leverage your business capital as well as make improvements on your balance sheet, leasing is definitely the best approach.
In most cases when you lease a peice of equipment, you need to get a credit pull to determine your credit worthiness. With LeaseQ, it is worth noting that the soft credit pull they use to qualify you does not have any impact on your credit score.
As you choose to lease oxygen medical equipment, ensure that you analyze your requirements in a bid to make the best decision. There are several leasing companies in the market hence you can ask your provider to give you some recommendations. However, at LeaseQ you are assured of a fast application procedure and a free instant quotation. With leasing you can certainly keep your costs as low as possible. At the expiry of the leasing period, you can either return the equipment or purchase it at a lower price. For more details on leasing oxygen medical equipment, click here for a free quote.