Saturday, June 7, 2014

Why Rent Medical Equipment Instead Of Buying

By Lila Bryant


In the last half century, there has been a lot of debate in the business world on whether to rent or buy. The verdict is that the two options have unique benefits and shortcomings, so they are both sound business-wise. Renting has more benefits in some industries than in others. For instance, you may want to rent medical equipment if you own a healthcare facility.

There are many types of machines that are used in the healthcare industry. Some of the most popular ones include MRI, X-Ray, CT Scanner, Ultrasound and heart monitors among others. Most facilities do not have the financial muscle needed to procure these items. Therefore, renting is considered a suitable option.

Besides purchasing medical appliances, other means of procuring these machines are available. Equipment financing is a very popular option. Big corporate bodies and financiers have the ability to step in and assist medical institutions to purchase the necessary machines. Hire purchase is also another viable option, but a healthcare facility may have insufficient funding to carter for the monthly charges. Purchasing second hand appliances is also a good option since they are usually cheaper.

The renter will be required to pay periodic rental fee; this may be once a month, every three months or annual basis. There are minimal or no restrictions at all regarding the use of the machine. Provided the financial terms of the agreement are met, the renter has all the freedom of use. The machine can also be rented for as long as the client affords, or until it reaches its end of life.

Different service providers have different service rates. Therefore, a potential customer has to work extra hard to learn more about the rates offered by different lease companies. It is expensive to rent new appliances compared to second-hand machines. The good news is that they can still work as efficiently as new ones. Prior to renting a used appliance, it is important to consult with experts so that you can make an informed decision.

Finding companies that lease these machines is not hard because most of them have a strong online presence. They are available on social media, blogs, forums, websites and many other electronic platforms that are easily accessible to consumers. Therefore, a few clicks is all that is needed to find the right firm. Those with the best reviews and product offerings should always be given strong consideration. Reputable firms that quote the lowest prices need to be prioritized.

A decision needs to be made on whether to rent second-hand or new machines. Due to the high cost of renting new ones, acquiring used appliances is preferred since they just deliver the same great results. Consulting with experts in the field is recommended before making a final decision.

Any machine that is rented should be insured since there are risks associated with using and possessing these high value items. A reputable insurer will cover the machine against loss, damage or theft. In case of any of these occurrences, both parties to the contract will be compensated by the insurance company. The premiums quoted by insurers for this type of coverage should be compared to ensure that the most affordable insurer is chosen.




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