To be able to best serve their patients, medical facilities require state-of-the-art equipment. However, new equipment is expensive, and many practices find it difficult to afford. As a less costly alternative, numerous organizations are leasing instead of buying. Here are some of the advantages of leasing medical equipment.

Save on Costs

The initial costs of leasing medical equipment compared to buying are lower because you usually do not have to make a down payment. The amount you pay is spread out in installments during the period of the lease.

Negotiate Terms

Payment terms for leasing medical equipment are remarkably flexible, even if your business does not have a high credit score. Additionally, when the leasing period has ended, you have several options. You can return the equipment, extend your lease, or purchase the equipment.

Save on Repair and Maintenance

When you purchase equipment, you also have to periodically pay the high costs of repairs and maintenance. Repair technicians and replacement parts are expensive. However, when leasing medical equipment, the leasing company handles the maintenance and repairs.

Upgrade When Necessary

Medical equipment rapidly evolves in quality and precision, and purchased items quickly become obsolete. When you lease items of equipment, though, you can continue to upgrade them at the end of each leasing period.

Claim Deductions

You can claim payments for leasing medical equipment as deductions at tax time. This tax benefit helps to lower your overall costs.

Provide Better Care

One of the most important benefits of leasing medical equipment is the opportunity you receive of providing your patients with better care. The lower cost of leasing allows you to obtain the latest technology. Your affordable and top-quality services will help you to obtain referrals from your patients, attract more clients, and increase your profits.

For more advice on leasing medical equipment for your practice, get in touch with KMS Funding.