At Fidelity Capital, one of the unique services that we provide is the leasing of dental equipment. The dental industry relies heavily on the types of technology commonly used in the facility, which means that a dentistry needs to be able to get all of this equipment at an affordable price while still being able to swiftly make upgrades when the time comes to do so.
So what are the biggest benefits of leasing dental equipment? Consider the following:
1) It is a much more realistic option for small or start-up practices.
If you are a dentist starting up your own practice or if you run a very small practice without the resources of many larger ones, it is a much more realistic option to lease the equipment you need, because there’s almost no way that you’ll have the necessary funds to purchase it. Leasing also gives you the ability to save a lot of your money and put it toward other necessary costs in the start-up process.
2) It allows you to avoid the issues that come with technology obsolescence.
When you purchase equipment, you’re basically locked into paying its full price, whether you’re going to use it for two years or twenty. In most cases, you need to upgrade the equipment before the purchase reaches the point where it was a worthwhile economic investment. Leasing gives you the mobility and flexibility to upgrade whenever you need to without having to accept a major loss on your investment. This is especially important in an industry such as dentistry, where technology is constantly being improved.
3) It will help to lessen the impact that slow-paying customers have on your practice.
Any dentistry or health professional is likely to have horror stories of patients or insurance companies that simply do not make their payments in a timely manner. Leasing equipment allows you to maintain your cash reserves in the event of failures to pay so that you will have a cash cushion in worst-case scenarios.
4) There are greater tax benefits to leasing your equipment.
Lease payments are considered to be expenses on a company’s balance, which means that the equipment essentially does not depreciate over the next five to seven years. This has plenty of tax benefits for your practice.
For more information about the benefits of leasing dental equipment or to talk more about the kinds of equipment you’d like to lease for your practice, contact us today at Fidelity Capital!