Medical Equipment Leasing - What You Need to Know

When you run your own business it is very important to be an informed consumer. Not only does the life of your business depend on it, so does the health and well being of your patients. You not only need to have the proper, most up to date equipment possible, you also need to be able to afford it. Making the right financial decisions are just as important as making the correct medical diagnosis.

Therefore you need to take the time to find out what your best options are when it comes to putting the best machines and equipment into your office. For many medical professionals leasing is the most attractive of any of your options.

Leasing is the number one type of medical equipment financing.

Leasing is the number one type of medical equipment financing. Why do so many physicians find leasing to be their best choice? There are many reasons and of course every situation is different. Some are looking to free up capital for other purposes. Some are concerned about their personal credit rating. Many want to be able to update their equipment every few years. Still others are excited about the tax advantages leasing offers. The bottom line is no matter what your personal situation, there is a strong argument to lease your medical equipment rather than purchasing it outright or taking out a loan from your local bank. Let’s take a minute to consider some of the reasons why you may choose to lease equipment for your practice.

Physicians get great rates when they apply for an equipment lease.

First off, physicians get great rates when they apply for an equipment lease. Doctors have a great reputation in the leasing community for paying their leases on time. Because you, as a medical professional, are a low risk, we can create a very attractive payment plan. We know you are a member of one of the most responsible professions in the land and we reward your reliability.

In addition, a lease that is guaranteed through your business, even with your personal guarantee, does not affect your personal credit score! A line of credit or other types of loans do affect the personal credit of a guarantor! That directly helps you out. For example, you might want to purchase a new home – but if you have a large medical equipment loan on your credit report it might make it hard for you to get a good mortgage rate. When you lease your equipment it does not affect your credit score.

Most medical equipment needs to be upgraded every few years. If you purchase it outright you may be throwing money away. When you buy, you are locked into that piece of equipment. It will be very hard to sell it – if not impossible - when you want to update to a more modern piece of equipment. With a lease you simply choose a newer model when your lease expires at the end of the two, four or six year payment plan.

Leasing equipment can help lower your taxes.

Leasing equipment can help lower your taxes. When you purchase any piece of equipment it becomes a taxable business asset. When you lease, your monthly payment becomes a liability and can be written off on your taxes.

When you lease you pay out less money per month.

When you lease you pay out less money per month. That means you can afford to have more equipment in your office. That means that procedures that you would otherwise have to refer to other medical practitioners can now be handled in your office. This increases the number of procedures that you can bill for. In essence, leasing the equipment directly brings more revenue into your practice.

If you are like most physicians, leasing is the payment option that will make the most sense for your business. We want to help you provide the best level of medical care possible for your patients.

Additionally, you should also know that GCR Capital offers many types of commercial financing programs; whether you’re considering buying new commercial properties, expanding an ongoing concern, or purchasing another business entity, GCR will get the deal done and make your expansion a reality.

Why not take 60 seconds to find out how we can help you easily acquire the equipment you need, save money on your taxes and meet the needs of your growing medical practice?