When your practice needs medical equipment, you will be faced with two choices: to lease or to seek medical equipment for sale. Of course, the benefit of buying your equipment is that you own it all right away. However, if you’re like most, the high upfront cost is simply not feasible, and the only way to get new equipment again is to spend again.
New Equipment Is a Larger Expense
It’s true that when you purchase medical equipment, you will need to spend a lot of money up front. If you need equipment but don’t have the money right now, you’ll likely be applying for a loan. However, even this option will require you to make a down payment on your equipment— usually around 20%.
Not only that but, once you’ve decided to take out a loan, you must follow the bank’s schedule of repayment. Otherwise, you will risk lenders placing restrictions on your finances unless the loan is repaid.
Leasing your equipment doesn’t require you to make a down payment. Instead, you can use that money for reinvesting into your practice. As well, leasing arrangements can be structured to meet the unique needs of your practice for ultimate flexibility.
You Can’t Make Old New Again
New equipment is a wonderful addition to any practice but, when you buy, it only stays new for a certain period of time. Can your practice risk falling behind in the technology it uses? If not, you may be faced with the additional and possibly unexpected costs of being forced to upgrade sooner than you thought.
In addition, you will need to figure out what to do with the equipment you no longer need. If the technology is older, it may be more difficult to sell. Or, you may need to hire a broker to sell it for you.
Not so with leasing equipment. Should you decide that new technology is needed, you simply turn in your obsolete equipment at the end of your term before obtaining a new piece of equipment and a new term. You can also purchase it if you wish or extend the term if you’re not ready for new equipment.
There are also no unexpected expenses when you lease. Because your monthly payments are fixed and there are no additional fees, you can more easily and accurately forecast your financial needs.
As well, you don’t have to worry about how to resell your old equipment because it’s up to the leasing company to take care of.
Choosing the Best Leasing Option
When you decide to lease, you will need to ensure you choose a company that understands the needs of your practice and which is experienced enough to provide you with the guidance you require.
With the right partner, you can ensure that your equipment is always adding value. Anesthesia Plus has been supplying high-quality new and used medical equipment for over 25 years. Learn more about our anesthesia machines and O.R. equipment by calling 1-800-887-8161.