Leasing medical equipment is a growing popular alternative to purchasing devices outright. This is especially true among small clinics and new medical practices seeking to save on their general start up costs. Leasing is especially useful when you know that you will only be needing a medical device for a limited period of time. By renting medical equipment instead of buying it, you can stay financially afloat more easily and still manage to procure the best high-tech medical equipment for your patients. There are also possible tax benefits to renting equipment and a certain level of security in terms of protecting yourself from losing money as a result of a purchased device becoming technologically obsolete.
Keeping to your Budget
Not spending more than your budget allows is especially important for small medical practices that are just starting out and are looking to save as much as they can on set-up costs. Leasing medical equipment means you can do more with your budget, and the devices you rent can start generating revenue and paying for their own costs.
You can get a tax deduction for the payments you make on leased medical devices, since they can fall under the category of operational costs. You may be able to get a deduction on a medical device purchase, but depending on the difference between the purchase cost and the comparable size of the lease payments, not to mention your tax bracket, it might (or might not) make more sense to rent. Either way, it’s worth looking into and considering.
Protecting Against Obsolescence
Technology is constantly changing and advancing, especially when it comes to medical technology. A medical device, even a medical examination table, might find itself outdated very, very quickly and in need of replacement. In such a case leasing medical equipment can prove to be the better choice, whether or not you can afford to purchase or not. It’s never good for business when you have to replace a device with a newer model before the old one gets a chance to pay for its original cost. With most medical equipment companies that lease out devices, you can arrange a payment plan that matches up the life-span of the device with its lease payments.