If you have an OB/GYN practice, you will need a variety of equipment in order to provide proper prenatal care as well as women's health services. Opening a new medical practice can be very expensive, which is why it is often recommended to lease some medical equipment instead of buying it outright. Whether you need an ultrasound machine or a fetal monitor, leasing can be a great solution. Some of the top reasons to lease medical equipment include:
It is no secret that medical equipment, especially the newest and most technologically advanced, can be very expensive. Instead of using a big chunk of the start-up capital for your OB/GYN practice, or taking out loans to pay for medical equipment, you can lease the equipment for a monthly fee. In most cases, leasing medical equipment does not require a large down payment, so it is easier to manage your cash flow while you are getting things up and running.
Have the Best Equipment on Hand
When you want the newest and best equipment in your practice, but don't want to pay the high price tag, leasing is your best option. One of the great things about leasing medical equipment is the fact that at the end of the lease you can return the equipment and lease the newest models of equipment available. This can help ensure that all of the medical equipment in your office is up to date and of the highest quality; you won't be stuck spending years paying off the loan for a piece of equipment that is now obsolete and outdated.
In most cases, the cost of maintaining the medical equipment that is being leased is part of the monthly fees. This means that the company that you're leasing the equipment from will make arrangements to have the equipment properly maintained according to the recommendations from the equipment manufacturer. When you own a busy OB/GYN medical practice, the last thing you want to worry about is setting up maintenance services for your equipment, so leasing can make a lot of sense and save time.
Since you do not actually own the medical equipment that is being leased, you can't account for its depreciation on your practice's taxes, but you can include the leasing fees paid as an expense. Before agreeing to lease medical equipment for your OB/GYN practice, it is a good idea to consult your accountant.