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Tata Capital > Blog > Generic > All You Need to Know About Medical Equipment Leasing

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All You Need to Know About Medical Equipment Leasing

All You Need to Know About Medical Equipment Leasing

As medical technology continues to advance, your healthcare facility needs to be competitive enough to adapt to these advancements. But your goal of delivering exceptional patient care will not be possible if you still rely on outdated medical equipment. As a result, investing in the latest, state-of-the-art equipment becomes prudent.

However, purchasing said equipment can be a costly acquisition. This is where medical equipment leasing becomes a viable option to ease your budgetary concerns. But how? Here's all you need to know about medical equipment leasingand how it benefits your organization.

How does medical equipment leasing work?

Leasing is a convenient medical equipment financing method involving making monthly payments (by the lessee) to a medical equipment financing company(the lessor) in exchange for leasing any medical apparatus, such as an X-Ray machine. At the end of the tenure, the lessee can choose to continue the lease, purchase the equipment, or return it to the medical equipment financing company.

For healthcare facilities, equipment leasing is a practical and economical solution as it allows them to upgrade to the latest technology at a lower monthly leasing cost.

Is it better to lease or buy?

What makes leasing such a viable option is the low initial cost and affordable leasing rent. That said, here's what you should consider before deciding whether to buy your lease medical equipment

  • Business needs- Small businesses like sole practitioners or small healthcare facilities can maximize their savings by leasing instead of buying. Moreover, you can also negotiate with the lessor to make monthly payments to purchase the equipment once the lease expires.
  • Latest technology- If a medical practice works with rapidly evolving equipment and technology, leasing makes more sense to enjoy the benefits of quick upgradation.

Benefits of leasing medical equipment

Looking for an affordable healthcare equipment financingoption?Here are the various benefits of leasing medical equipment for your business

1. Lower initial costs

Featuring lower down payment costs, this medical equipment financing allows a healthcare facility to rent out the latest equipment without breaking the bank.

2. Flexibility

Equipment leasing offers you the flexibility to negotiate payment terms and instalments with the lessor. Besides, lessees also have the choice to renew the lease or purchase the equipment at the end of tenure.

You have an option to buy back or extend the asset at the best buyback price/extension rental & hassle-free return of assets where we arrange for pick up from your location after lease maturity.

3. Ease of upgrade

The medical industry is marked by continuous technological advancement, which means you must regularly replace your latest equipment. This makes leasing a more feasible medical equipment financingoption as it offers you the liberty to keep up with these technological developments.

4. Tax Benefit

When you lease an equipment, company can claim tax deduction on the rentals paid to leasing company thus making leasing more tax efficient.

Final words

Ready to invest in state-of-the-art equipment for your healthcare facility? Turn to Tata Capital for speedy and affordable equipment loans. Enjoy flexible tenure and a quick application process.

If you're looking for more information on our loan process, please feel free to drop a mail to Leasing@tatacapital.com and our leasing experts will get in touch with you to guide you through the process.

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