The importance of medical equipments in the field of healthcare has the utmost importance. Whether it is a small healthcare procedure or be it a large operation, healthcare equipments are necessary for both of them. Every healthcare professional needs the right amount of technology and equipments to properly take care of the patient. The technology advances at a very rapid pace. Everyday a new techniques is invented for the healthcare sector. The machines get bigger and inexpensive. For the patient’s utmost comfort and best treatment, healthcare set-up should have these advanced machines and equipments. So, is it necessary to buy such expensive machines and equipments every year or is it wise to just rent them on lease and use them for the comfort of the patient? Let’s find out the answer.
Firstly, you should know how much beneficial should be the new equipment. Will the new equipment be beneficial for your practice or not? Will the new equipment be a good investment for the future or not? You should know the cost of the machine that you are purchasing. If the cost of lending/leasing is the same to the cost of the medical loan, then one should go with the latter. Your main goal should be to keep the working capital on a positive side. If the working capital is on the negative side then your patient operations would be affected.
Your new equipment should be the worth of the amount you spend on the machinery. The machine should do a better diagnosis and turnaround and increased productivity. The healthcare equipment should be fruitful for both the patient and the operator. Apart from an enhanced patient care, the healthcare instruments should also generate a good revenue for the operator. So it is always better to lease or rent an expensive machinery rather than buying it.
To clear the dilemma around the question, it is advisable for those who are financially stable should buy the healthcare equipments rather than renting or leasing it. As this would help them to achieve a longer goal. Whereas the individuals who have a financial constriction, they can rent/lease the healthcare equipment. Renting the healthcare equipment is the most economic and cost effective way to run a healthcare practice using different and the most advanced healthcare equipment. This is a very useful way for the organizations who are not financially stable but tend to provide good healthcare services in a relatively shorter period of time.
Another advantage of renting out healthcare equipments rather than buying them is the trying out scheme. One can usually first try out the expensive healthcare equipment by renting it out or leasing it out rather than buying it. The operator should test whether the healthcare equipment is suitable for the healthcare setting and whether it caters to the need of the patient or not. By renting it out, he/she can find out and save huge amounts of money which he/she could have lost while buying it. This lowers the economic risk and also encourages the healthcare firm to try out new technology and equipments without the risk of losing money.
Often, it has been seen that the technology is advancing at a rapid rate. To keep up with the advancing technology, one has to be updated with the latest trends and keep the latest machinery within the healthcare setting. This will obviously incur lots of money for the operator . To save this money, it is recommended that the heavy machines and the latest equipment should be kept on rent/lease rather than buying it.
The unpredictable patient inflow and outflow is also another factor that helps in deciding whether the equipment should be rented or not. The rented healthcare equipment can easily meet the requirement of patients and also save money for the institution. Staff members never have to worry about the shortage of the healthcare equipments when the equipment is rented as it will solve this problem as well. Rented healthcare equipment will also eliminate the need for constant repairs and recalls. With the new equipment, there will always be a constant need of repair calls. It is not necessary that a technician would be available every time for the new machinery. The new healthcare equipment would need such assistance at any given time, whereas the rented one would need less assistance and would work at par with the new one.
To rent healthcare equipment is a feasible task rather than buying the whole setup of equipments. It saves time and money to a very large extent. Renting equipment costs far less than purchasing it and is beneficial to both the parties. This can enable a smooth functioning of the healthcare set-up. Usually, due to the insufficient funds, healthcare professionals aren’t able to run a healthcare set-up hassle free. But with the renting of the healthcare equipment, this problem can be tackled very easily. The renting of the healthcare equipment can help the individual to spend less money contrary to the buying of the new equipment which helps in the smooth functioning of the institution. The money saved can be used in different aspects of the institution, and be used to run the institution efficiently.
It is completely up to the individual, whether to buy or to rent the healthcare equipments. It all boils down to the finances that one is available with. Both the options have it’s pros and cons which are discussed above. But, it is always advisable to rent/lease the healthcare equipments at first rather than buying heavy and expensive equipments which can burn a hole in the pockets of the individual. The performance of eequipments which are rented and leased work at par with the new ones, and have no difference what so ever. So it is advisable to get the rented healthcare equipments.