Why Your Practice Should Consider Leasing Medical Equipment
Running a medical practice can come with many challenges. One of those challenges you may encounter is financing the acquisition of new equipment. This can often be a substantial capital expenditure and even mean choosing between funding other areas of your practice. Since the needs of your patients will always be in the forefront of your mind, you want to find a solution that benefits both you as the owner of the practice and those that rely on your medical services. That’s where the option of leasing medical equipment comes in.
When compared with other options, such as borrowing to purchase medical equipment, the benefits become apparent. With medical equipment leasing, there is no need for a large down payment. This avoids a costly disruption to your cashflow as well as the burden of taking on additional debt.
There may also be tax benefits that accompany the decision to lease medical equipment. For example, lease payments in most instances are considered tax deductible, as ordinary and necessary business expenses. There may be additional tax benefits from leasing, so you should consult fully with the company offering you the equipment as well as your tax preparer.
Your medical practice very likely provides an enormous and positive impact to your community. So, it is important to stay abreast of and be able to acquire the latest technologically-advanced medical equipment. Know your options when it comes to leasing medical equipment, and position yourself to continue to grow your practice.