Having worked with medical professionals across the country to finance essential medical equipment, our team knows all too well the implications new equipment can have on growing a practice. It supports you in providing the best patient care possible. It retains patients in your practice versus referring them to other doctors. It improves patient satisfaction via better diagnosis accuracy and treatment plans. It can even increase the number of patients you can see due to improved efficiencies. And, if the medical equipment you want is the latest technology with limited availability in your area, it makes you more competitive in your specialty. All or any combination of these can grow your practice.
Despite all the benefits and advantages of financing medical equipment, it’s not always easy for medical professionals to find a lender willing to work with their unique situation. That’s where the expertise of a lending partner, like Global Financial & Leasing Services (GFLS), comes into play. Our team works with all types of medical professionals, such as those who open their own practice or a new location, have recently graduated medical school, are adding additional services to their practice or want to invest in new or upgraded medical equipment. And just as importantly, those who have less-than-perfect credit and aren’t likely to be approved for financing through traditional banks.
Given the high cost of medical equipment, financing makes sense for several reasons.
Financing medical equipment lets you keep cash reserves on hand. Though you have a medical practice, you know it operates as a business with many of the same expenses others businesses have. Between payroll, office space rent, utilities, malpractice and other insurance, software subscriptions, school loans and more, buying medical equipment outright is not feasible financially for many. Financing a medical equipment purchase or lease allows you to keep cash for other expenses or emergencies, and the monthly payment becomes a more affordable monthly expense.
Financing essential medical equipment results in better care and increased patient satisfaction. Having access to essential medical equipment allows you to better care for your patients, regardless of your specialty, and especially if you’re in a quickly evolving field. As medical equipment becomes more advanced, it becomes far easier to quickly diagnosis and begin a treatment plan, which can improve or even save patients’ lives. Medical equipment is critical to patient care, and financing shouldn’t keep you from providing the best. The better the outcomes, the more patient satisfaction scores improve, affecting your overall practice, reimbursements and referrals. New or upgraded medical equipment gives you the technology you need for more accurate diagnostics, and higher patient satisfaction rates.
Medical equipment financing brings new technology to your patients. Of course, this is an opportunity to improve patient care and outcomes, but also, it’s a way to be more competitive in your specialty. Given the choice between a practice with old technology versus the latest in the field, patients are likely to choose a practice offering state-of-the-art equipment. Keep in mind, medical technology can evolve quickly. Purchasing equipment outright typically means you’ll keep it longer for a better ROI. By financing an equipment lease, you can choose to end the lease and finance a better piece of equipment when your term is over or purchase and keep it.
LEARN MORE: With Inflation and Rising Interest Rates, Is Now a Good Time to Finance Equipment for Your Business?
Let GFLS Finance the Medical Equipment You Need
GFLS has been assisting small and medium-sized medical practices since 2009. We are a direct lender with connections to numerous banks and institutions, so we can access funds faster.
- 100% financing without additional fees from sales tax, delivery, warranties, or installation
- Solutions that save your lines of credit for emergencies and help you maintain your credit history while leasing equipment instead of purchasing with cash
- Direct communication with our vendors and clients
- Financing options that conserve working capital for more important uses, such as expansion or hiring more staff
- Personalized, co-branded programs
- Tax consideration on leased equipment as business operating expenses
- New and used equipment for lease, so you can use equipment before they become obsolete
- The option to purchase equipment after leasing
GFLS provides equipment financing solutions with no hard cap on the amount for a wide range of medical practices and credit tiers with no minimum FICO score requirement. If you want to finance medical equipment to grow your practice, partner with us. Ready to learn more? Let’s talk about the possibilities. Or, get started today by filling out an online application.
