- Tax benefits. The IRS does not count some leases as purchases, and instead considers them to be tax-deductible overhead expenses. Therefore, there is a good chance that you will be able to deduct lease payments from income, reducing the net expense of your lease.
- Flexibility. As your healthcare facility grows and its needs continually change, you will need to be flexible enough to upgrade your equipment at a moment’s notice. The terms of your lease may allow you to upgrade or add equipment at any time during the term of the lease.
- Avoid depreciation. Major healthcare equipment depreciates quickly. Rather than purchasing it and feeling like you have to hold on to this rapidly depreciating equipment long after it has any value, you can get it for a certain period of time under a lease for much less money.
- Improved money forecasts. When healthcare facilities choose to lease their equipment, they can much more accurately predict their cash requirements because they know the amount and value of the payments they will have to make. There are no additional floating or surprise fees that come with equipment leasing that you need to worry about.
- Easier than loans. Leases allow healthcare facilities to avoid having to deal with large down payments, reviews of client lists, cash flow projections and other complications, which makes the entire process significantly faster and easier on the facility.
- Speed. Applications for leases can be approved within a few hours, rather than the significant amount of time it can take for a loan to get approved.
The Benefits of Leasing Medical Equipment
Many healthcare organizations put off getting the most up-to-date medical equipment that they need, because the price of purchasing that equipment is simply too high. This has been a particularly significant issue in recent years, thanks to the economic downturn.
However, equipment leasing may be the best answer for your medical organization. It allows many healthcare networks to get the equipment that they need to provide the best possible patient care while still being conservative with their funds.
Here are some of the greatest benefits of leasing medical equipment: