Advantages of Purchasing Medical Equipment

• There are many options available to us in life, and one of the several decisions doctors must make is whether to purchase or rent medical equipment. One of the most expensive products for hospitals and other healthcare facilities is medical equipment. It costs a lot to buy, then there are ongoing maintenance and cleaning expenses as well as repairs for broken equipment.

• As medical technology continues to improve, healthcare providers must keep up with these developments. However, healthcare professionals have to constantly juggle the buying versus leasing questions. Both options have their advantages and disadvantages.

• Buying medical equipment is a more serviceable option for certain equipment that has longer life cycles and needs less maintenance. Many Professional loans for doctors, such as Medical Equipment Loans could help you to upgrade in a more budget-friendly way.

Comparison Between Buying And Leasing Healthcare Equipment

Aspect	Buying	Leasing
Upfront cost	High	Low
Ownership	With the buyer	With the owner
Modifications	Possible	The owner may or may not allow
Restrictions on usage	None	The owner may impose certain restrictions on usage
Sell off	Possible to sell-off once the utility is over, for some financial consideration	Not possible
Agreement	Not bound by any agreement, since the individual (or company) has bought the equipment	The individual (or company) leasing the equipment is bound by certain conditions mentioned in the agreement, related to usage, modification, surrender, etc.
Raising funds against the asset	Since you own the asset, you may keep the asset as collateral and raise funds against the same	Since you do not own the asset, you cannot raise funds against the same (with some exceptions)
Responsibility of maintenance	Rests with the owner	Is at the mercy of the owner for maintenance and repairs
Newness	The equipment is guaranteed to be new	You may have to deal with a used or slightly old and inefficient equipment