Everything you need to know about medical equipment leasing

Leasing medical equipment can be a smart business solution that sets your practice apart from the competition. Whether you run your own practice or manage sourcing for a large provider, it’s important to create an equipment strategy that works both today and tomorrow. We’ll fill you in on the important details about medical equipment leasing so you can figure out if it’s right for you.

How It Works

The equipment leasing application process is generally more streamlined than a loan application. Plus, you can apply with a much smaller down payment compared to other loan options. Your payments are spread out over a set period of time and you have two choices when it’s over. You can either return the equipment or buy it to keep for your practice. The major benefit here is that with constant changes within the healthcare industry, technology quickly becomes outdated. A lease agreement allows you to access the most up-to-date equipment without sacrificing a huge amount of working capital.

Medical Equipment You Can Lease

There are few restrictions on the type of medical equipment that qualifies for leasing. Common items include wheelchairs, diagnostic equipment, and imaging equipment such as x-rays or ultrasounds. You can also lease equipment that is more specific to your practice, such as dental or physical therapy equipment. If you require any type of commercial vehicle, such as for deliveries or patient transportation, they can also qualify for medical equipment leasing.

Which is Better for Your Business: Buying or Leasing? Let Us Show You!

Who Can Apply

The biggest factor is to make sure your equipment needs meet the leasing guidelines with your lender. CMS Funding offers lease amounts ranging from $10,000 to $5,000,000 with terms lasting between 12 and 84 months. This flexibility is helpful regardless of whether you’re outfitting a medical office from scratch or simply upgrading a few key pieces of equipment. Additionally, you can expect a decision within 24 hours, and there are fast options for disbursement of funds. Whether you have a thoughtful strategyor are in the midst of a tech emergency, equipment leasing can be a valuable solution.

It doesn’t matter if you’ve never considered medical equipment leasing before. With an easy application process and fast approval, you can access innovative leasing options to help take your medical practice to the next level.