Did you know that the number of hospitals in the US in 2020 was 6,093? 5,139 of these were US community hospitals, 2,960 of them were not-for-profit nongovernment community hospitals, and 1,228 of them were for-profit investor-owned community hospitals.
If you’re in charge of getting hospital equipment for one of the many hospitals in the US, you might find yourself stressed about the cost. Fortunately, however, there’s an answer: renting hospital equipment.
In this article, we’ll review the reasons why you should rent hospital equipment.
Finally, you can get the right hospital equipment for your hospital while experiencing all the benefits, making your job easier than ever. Read on to learn more.
1. A Low Initial Cost
One of the reasons why hospital equipment rental is beneficial is that the initial cost is low. Normally, you won’t have to pay a downpayment when you lease this equipment. As a result, across the period of leasing, all the costs are uniform.
When you purchase hospital equipment, on the other hand, you’re paying far more. With leasing, the initial cost is low—and you can pay the balance that remains in installments.
2. Lower Additional Costs
In addition to the initial cost, you’ll also save money on the additional costs. When you buy new hospital equipment for sale, you’re paying for more than the equipment itself. You also have to pay for the servicing and procurement costs.
Also, the tax you would pay when leasing the medical equipment is considered as being a deductible expense.
If the hospital management decides to deduct lease payments to lessen their tax burden, this is another way to save money. To find out how much you’d save, speak with a tax professional.
Additionally, if you choose to lease the equipment for a longer period, there might be a discount available for you.
3. You Can Upgrade More Easily (And for Less)
One of the most frustrating things about buying hospital equipment and supplies is that they can easily become outdated in just a few years. If this were to happen to you, you’d end up either stuck with outdated equipment or having to buy new equipment at a high cost—but only without leasing.
Leasing hospital equipment suddenly transforms this scenario. If it’s time for an upgrade, you can simply stop leasing one piece of equipment and start leasing the next version of it.
Additionally, you can start to upgrade the equipment you’ve already bought by leasing. As the equipment you own starts to become outdated, simply lease the next version of it. This is a much easier and less expensive process.
To see what impact leasing will have when it comes to upgrades of specific pieces of hospital equipment, we recommend thinking about the life cycle and trends of each specific type of medical equipment.
4. You’ll Save Time
Another benefit you get from leasing hospital equipment is that you’ll save time when it comes to approval and documentation. While you would have to go through these processes to buy a whole new piece of equipment, this isn’t the case when leasing.
5. Happier Customers
If you decide to spend your hospital equipment budget on leasing instead of buying, you’ll be able to lease a larger number of pieces of equipment and upgrade more easily. As a result, you’ll have happier customers.
When they come into your hospital, they’ll experience more high-tech solutions than if you were to have bought just a few expensive pieces of equipment.
Happier customers bring about the benefit that they’ll help you attract even more clients. This will in turn bring even more money into your hospital.
6. Flexible Terms
If you need to take out a loan to pay for a piece of new hospital equipment, you could end up being denied the loan if you have a bad credit score. However, when you lease equipment, you’ll be offered flexible payment terms that are favorable in the case of bad credit scores.
Additionally, it’s possible to negotiate to pay lower installments over a longer period.
At the end of the period when you’ve been leasing the hospital equipment, they’ll offer you three options. You can extend the period of the lease, return the equipment, or buy it.
This means that you can choose whatever option is best for you financially when the lease period has ended.
7. Reduced Repair and Maintenance Costs
When it comes to the maintenance of medical equipment, costs can be incredibly high. This is often the case because technician fees can be costly and new parts can be expensive if a part of a piece of equipment you’ve bought is no longer working.
However, maintenance and repair costs are much lower when you rent hospital equipment. This is because you won’t have to pay any of them yourself.
The leasing company will manage all of this instead, so you won’t be stuck paying the bill.
Looking to Rent Hospital Equipment?
Now that you’ve learned what the benefits of renting hospital equipment are, you might be interested in renting equipment from a hospital equipment company. In this case, you should look no further than Heartland Medical Sales & Services, LLC.
We’re experts when it comes to what equipment in a hospital there needs to be, and we sell and rent all types of medical equipment, including anesthesia machines, defibrillators, electrosurgical units, and more.
We also offer used hospital equipment and do maintenance, servicing, and repairs. To learn more about our hospital equipment, check it out now.