Leasing Medical Equipment: 4 Advantages For Practices

For medical practices, having access to the best equipment available increases productivity and efficiency, while decreasing overall expenses. Practices of all sizes are starting to realize the major benefits of leasing medical equipment.

Leasing Medical Equipment Saves Money

When purchasing medical equipment, the initial cash outlay can be a big hit to any budget. Frequently, practices end up taking out bank loans to cover the cost of equipment, just to have it in-house. Leasing medical equipment spreads out the cost with low monthly installments. Leasing medical equipment is not only cost-effective, it is budget-friendly, as well.

Access To The Latest And Greatest Medical Equipment

When purchasing equipment, medical practices acquire an owned asset, the value of which depreciates every year. With advances in medical technology, practices need access to the latest medical equipment to stay on the competitive edge, and provide services quickly and efficiently. Leasing medical equipment gives practices the opportunity to stay up to date. Leasing agreements allow small private practices and large healthcare centers alike to trade up their leased equipment for the latest models as they become available.

Affordable Options

Leasing medical equipment offers options to medical practices which cannot be obtained through purchasing. When medical equipment is purchased, it frequently comes with a warranty to cover basic repairs. Once the warranty expires, practices need to contract a third party or hire a full-time specialist, and both options are a big expense. Leasing agreements give practices the option of bundling things such as equipment cleaning, maintenance, and even staff training, with little added cost to the overall expense.

Tax Deductions

Two words that spell relief for medical practices of all sizes. As per the IRS tax code, medical practices can claim all payments on leased equipment. Keep in mind, there are limitations. The cap on deductibles for leased equipment is $500,000. However, practices can make deductions on leased equipment annually, which can add up to huge savings every year.

Get The Equipment You Need For Your Practice

Whether you are looking to purchase equipment, or take advantage of the many benefits leasing agreements have to offer, BG Capital Funding Group can help. We can provide financing for even the most specialized equipment, and have programs for practices with low or even damaged credit ratings. If you would like to learn more about what equipment financing options are available for your practice, contact our offices today.

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