Cash conservation can be crucial in the healthcare industry. While you may hope there are enough funds available for purchasing all the life-saving equipment you need, there sometimes isn’t.
Rather than sacrifice patient welfare, hospitals can gain access to everything they need without the upfront costs by leasing rather than buying. The number of benefits associated with leasing versus buying may just surprise you.
Having the Latest Equipment
When you lease medical equipment through lab financing company Excedr, you gain access to some of the latest equipment in the industry. Most scientific equipment lease companies understand just how quickly technology changes and allow you to upgrade every few years.
If you were to purchase the equipment you need, your high investment means you likely have to use that equipment for several years – often when it’s no longer the best available for saving lives.
Making Tax Savings
Not only can small, regular equipment lease payments be more affordable for medical facilities than one purchase payment, but you may also enjoy tax benefits. Medical clinics and hospitals can deduct lease payments from their income, which means you may be paying less than you thought while still accessing the latest medical technology.
Benefiting From Ownership and Use Versatility
By leasing medical equipment, you have complete freedom to make choices about its use. For example, if it’s not what you need or doesn’t meet your expectations, you can return it for something better. At the end of your leasing period, you can also choose to purchase it, return it, or end your contract.
Some of these options may come with fees and costs, but they can be more affordable than purchasing medical equipment and being stuck with something that doesn’t suit your needs.
No Need to Worry About Maintenance
The maintenance costs associated with medical equipment can be high, particularly when parts are costly to replace and you also have to pay technician fees. One of the most surprising advantages of leasing equipment is that your chosen leasing company takes care of all repairs and maintenance.
When you find an issue, you can contact them, and they manage the whole process. If some maintenance and repairs aren’t covered under your lease agreement, you may be able to spread out the costs through your monthly payments.
Enjoying More Manageable Payments
There is typically no way to get around spending large sums of money in hospitals. You need access to the best equipment in the industry to save lives. However, not every medical facility can afford to spend hundreds of thousands of dollars on the latest life-saving equipment.
Most leasing companies solve that problem. There’s no down payment or massive investment with which to concern yourself. Instead, you work with the leasing company to develop a structure that works within your operating budget. For many clinics and hospitals, this option frees up funds for consumables and personnel.
Even though your medical facility may not be able to buy the latest and greatest technology, that doesn’t mean you can’t have it. Leasing medical equipment is a cost-effective, logical, and convenient option that ensures you never have to do without anything you need to treat the vulnerable.
