Medical Equipment Supplies: Buy vs Lease

For healthcare facilities, medical equipment supplies represent one of the largest financial outlays. Capital equipment — such as ultrasound machines — can be quite expensive, whilst consumable supplies — including needle guides, procedural kits, and infusion therapy products — will need to be replaced on an on-going basis. Suffice to say, the costs can quickly add up.

Many healthcare managers wonder, then, about the possibility of leasing equipment. There are medical equipment suppliers that offer leasing options. But is it the right choice for you?

Of course, the answer to this question will depend on your specific situation, particularly your budget. Generally speaking, however, the advantages to purchasing equipment far outweigh any perceived disadvantages.

Benefits of Purchasing Medical Equipment Supplies

There are many advantages to purchasing medical equipment supplies. Some of these are specific to the healthcare industry, whilst others are just common sense.

Long-Term Cost

The conundrum of leasing vs buying is not exclusive to the medical industry. The other obvious example is real estate.

Many people will tell you that buying a house is, in fact, the cheaper option, when you consider long-term costs. When it comes down to it, they’re not wrong. Of course, you need to have the capital available to purchase the house in the first place.

While buying equipment is a singular financial outlay, leasing equipment will incur an annual cost that can be difficult to plan for. Who knows what the future holds; perhaps your facility will have a particularly bad year and will struggle to make payments. Losing access to your equipment won’t help the situation.

Purchasing medical equipment supplies not only comes at a lower long-term cost, it also represents peace of mind. Once you have the equipment, it is yours to keep, and you can effectively guarantee to your patients that you have the tools and resources needed to provide treatment.

Warranty

There’s not denying the fact that medical equipment can be expensive, which is why warranty is so important. When you buy medical equipment supplies, you are also purchasing the Original Equipment Manufacturer’s warranty. This will protect you for a certain period of time, should the equipment break down.

Leased equipment is unlikely to come with quite the same protection options. Your supplier may provide a replacement but this can be contingent on them having stock. In the meantime, your patients will be left waiting for essential medical treatment.

Purchase warranty is priceless peace of mind.

Business Value

It’s not only your patients who will benefit from your decision to purchase supplies. The value of your business can increase significantly through the purchase of capital equipment.

This will not be a concern for all healthcare managers. However, if you run a private clinic, increasing business value may be one of your top priorities. Speak to a financial expert or business advisor to learn more.

Maintenance

All medical equipment supplies will require maintenance. An on-going maintenance schedule is what keeps equipment in tip-top shape, providing accurate diagnostic information and operative services.

Maintenance offerings will differ from supplier to supplier. Generally speaking, however, purchasing new medical equipment will come with the provision of repair and maintenance. Considering you have invested so much in your purchase, a good supplier will move quickly to organise repairs, meaning down-time is kept to a minimum.

The Equipment Itself

Finally, the equipment itself. Many people spruik leasing medical equipment as the best way to get your hands on the latest technology. Whilst this may be partially true, there are significant advantages to purchasing equipment from an operative perspective.

Medical equipment can be difficult to operate. Opting to purchase means that your staff can take their time getting to know the ins and outs of a device, with confidence that they will be using the equipment for many years to come.

Purchasing equipment also means you have the option to customise it as you like — it’s yours, you can do what you want with it!

Paragon Care — Leading Suppliers of Capital and Consumable Products

Here at Paragon Care, we have many years of experience selling quality medical equipment supplies. We believe that purchasing is the way to go and are proud to offer top-of-the-line equipment to our customers.

Our equipment is supported through comprehensive maintenance and repair offerings. We offer a broad portfolio of contract choices, making purchasing equipment a viable financial option, regardless of your situation. Our trained and experienced service team are on-hand to assist you through every step of the purchasing journey.

If you have further questions or are interested in viewing our product portfolio, contact the friendly team at Paragon Care today.