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Top 10 Advantages of Leasing Medical Equipment - First National Capital Advisors

Top 10 Advantages of Leasing Medical Equipment

by / Thursday, 05 October 2017 / Published in Financing Blog

In a rapidly changing technical world, you never know when your medical equipment will suddenly become yesterday’s news. It doesn’t help that tight budgets and economic downturns can make you put off buying new equipment, making your existing tech fall further behind, plus you have government regulations that your equipment must meet. To solve your tech problems, consider leasing medical equipment instead of purchasing it. Leasing can solve many problems and offer great benefits to health care providers.

Financing

In a leasing agreement, no down payment is needed. This means the capital used for a down payment can instead be used for other functions, like payroll, maintenance, services, anything you deem important. Also, opting for a lease means you’ve eliminated the hassle and paperwork associated with a loan, including the need to present a cash flow projection to a lender, or any other justifications for a loan. This means the financing process will go much faster. Leasing can also allow for quicker responses to new opportunities without the need for paperwork. You can also group all the associated costs of the new equipment, including support and training, in with the lease payment, saving you additional costs.

Taxes

Leasing medical equipment also grants you a number of tax benefits. First, you can deduct lease payments from your income taxes and reduce the lease’s net cost. You can also write off lease payments from your income statement, eliminating extended depreciation of the technology solution. Furthermore, a leasing company can offer you tax benefits associated with ownership, including your lessor allowing you to pay less on the lease per month.

Upgrades

Updates in technology leave a health care provider at risk of being stuck with outdated equipment that may have little to no value and thus can’t be sold for a good price. Leasing will cut down on the risk, since you don’t necessarily have to buy the equipment at the end of the lease if you don’t want to. But technical upgrades aren’t limited to the end of the lease. A lessor could give you newer technical equipment during the term of the lease if needed. Finally, it’s up to the leasing company to shoulder the risk of the technology going obsolete. Should you not want the equipment any longer, they are responsible for taking it back.

There’s no need to take the risk that your medical tech will become outmoded. Leasing medical equipment is a great way to get past a tight budget and keep you on the cutting edge of medical technology.

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