Medical equipment leasing is good for small businesses or for large companies. Many choose to lease medical equipment rather than simply borrow it because leasing doesn’t require a down payment, while equipment lenders will. Lenders ask you to assume the risk, but by contrast, the leasers will be happy to take on that task for you.
Medical equipment leasingis especially great for a doctor who decides to run a private practice. Many of these doctors may be short on cash because the cost of building a private practice is initially prohibitive. With this service, you can receive some tax breaks and save lots of money in the long run. Your medical practice will be better for the rental equipment, especially since, as a leaser you will always have the most recent technology and equipment. Having the best of equipment is a great way for a new practice to build credibility.
So, how can you lease medical equipment? Well, first you need to find a good leaser. You can begin by searching online. There are several dozen websites available for would-be leasers to browse. There are some company websites that allow you to apply for the equipment on their website. Questions concerning your company and your credit rating will be asked on the electronic application. When you submit your application, you will probably be in touch with a customer representative within mere hours.
Oftentimes, many of these leasing companies will work with you to select the price and type of equipment. Your credit rating will have to come into play because potential leasers want to be sure that you have a history of paying on various items in a timely fashion. Some leasers, however, won’t require you to have a co-signer, especially if your credit is good.
Some leasers will approve company medical equipment leasing for amounts up to $1,000,000, maybe even a few million. Equipment companies will usually lease sophisticated medical staples like heart monitors, sonograms, defibrillators, and surgical devices.
Medical equipment leasing can not only save hospitals and private practitioners some cash, it can save lives as well. Outdated and worn surgical equipment, and lack of some necessary equipment, is responsible for too many deaths every year. Leasing, with its lower monthly payments and hefty tax deductions, allows individuals, companies, and government entities to afford the equipment that is vital if one wants to remain a reputable health care institution and avoid lawsuits.
If you cannot afford necessary equipment, do not do without it. Consider leasing options. Even if you can afford the equipment, you may want to consider leasing. It’s more convenient, and may be more cost-effective in the long term.
By Michelle Presbury