Read all about leasing medical equipments in this article
Cost of medical treatment in USA is generally higher. At least a part of this is due to high costs of medical equipments.
Why Lease Medical Equipments?
A medical doctor, just out of college has generally no means of financial support (unless of course, he/she is born to rich parents and the parents are ready to give the money), and is trying to stand on two legs, and that too without any external help. Ask him/her to buy expensive medical equipment and the offer will be replied in laconic tone “I do not have money”.
Without use of equipment the career of a young doctor will not go anywhere. This is a classic chicken and egg situation for the young doctor. He/she cannot make money unless the equipment is available and the doctor cannot get the equipment unless he/she has money
The way out – Lease Medical Equipment
Medical equipment leasing is the way out. It is actually a win-win situation for the financer and the medical professional. The medical professional does not have to shell out money up front and still gets the equipment, whereas the financial professional get the expected return on money invested.
For the medical professional the leasing option works out still better as the advantages from leasing go beyond the financial implications. These advantages cannot be counted in terms of money at all. The advantages are,
1. For a profession that is in tune with technology and advances in the field are taking place rapidly, obsolesce of the equipments is a normal phenomenon. With leasing, a doctor does not have to bother about obsolesce of the equipment and the doctor is not burdened with obsolete equipment.
2. The leasing payment is tax deductible expense and the doctor gets reduced tax liability. Purchasing the equipments on equated monthly installments is also out of question as the payment is towards a loan and is not an expense that can be considered tax deductible.
3. The problems with outdated equipment are more in medical field than with any other field. In any other field, you can work with an outdated equipment and still get the desired result but after a time gap. In medical field this time gap is life and death situation.
If the decision is not taken with a limited time available and the diagnosis is not proper, the doctor can be hauled for negligence and has to pay a heavy penalty. With leasing you do not have to worry for the outdated equipment as at the end of lease period the equipment can be changed for new and modern equipment. The technology up-gradation cost will be borne by the person leasing the equipment. The doctor does not have to bother about it.
4. The doctor can concentrate better on profession as the maintenance of the equipment is normally the responsibility of the lessee. The costs of maintenance keep on going up with time and the outdated equipment has generally higher cost of maintenance.
5. Also since the equipment is a specialized topic the cost of maintenance is higher and some times the cost of maintenance can be higher than the cost of equipment itself. In such cases a leased equipment can be returned after terminating the lease contract and new equipment leased in place of it.
So the equipment leasing is a good choice for the medical professional.