To lease or not to lease – that is the question
The world of healthcare and medicine is an exciting place to be in the 21st century. Technology is progressing at a remarkable rate and new, cutting-edge equipment is constantly coming onto the market. While every healthcare practitioner wants to offer their patients the best possible equipment, high costs of both purchase and maintenance are prohibitive. That’s when equipment leasing from GRENKE can be the sensible option.
Equipment leasing is fairly straightforward – it allows a business enterprise or an individual to lease equipment for a specific period of time and return them when the lease period expires. At this stage, there is an option to renew the contract.
The big question is whether medical equipment leasing is the best option for you. The advantages are fairly evident:
• There’s no huge initial outlay of cash putting pressure on your resources
• Your financial outlays are reliable at a consistent monthly rate
• This frees up funds for other priorities like staff, infrastructure, or expansion
• There may be tax benefits to equipment leasing. We recommend always consulting a professional accountant or tax advisor to confirm this.
• Your patients consistently have the benefit of sophisticated, up-to-date equipment which gives better patient care and can lead to more information for healthcare professionals to work with when treating a patient.
Of course, there’s always a flip side to the coin, and equipment leasing has some disadvantages:
• Equipment can cost you more than it is actually worth over time
• If your practice or patient model changes, you may not use the chosen piece of equipment as much as expected. However, you will still have to make the agreed repayments and it may cost you to break the lease agreement.
With careful planning, equipment leasing is generally an excellent option for hospitals, medical centres, and practices. Choosing an experienced partner in the healthcare industry like GRENKE can help stabilise your cashflow and focus entirely on your core work of medicine and care. We work with all aspects of the healthcare profession including medical, dental, veterinary, physiotherapy, occupational therapy, and nurse practitioners.
If you’d like to investigate equipment leasing and get advice on fast and flexible financing.
Talk to GRENKE today!
As one of the leading financial service providers in the Irish market, GRENKE’s slogan is ‘Fast, Forward, Finance’. GRENKE offers entrepreneurs fast and flexible financial solutions through a range of services including leasing and invoice finance. We match the perfect financial solution to your unique business needs, from small businesses to large enterprises.
Over the last 40 years, GRENKE has provided leasing to numerous styles of businesses and organisations; sole traders, partnerships, public and private limited companies, associations and organisations, medical, health, and educational providers, public hospitals, semi-state institutions, Government bodies and so much more.
Our expertise and strong market position are no coincidence. If you are a business owner looking for financial solutions in Ireland or advice on fast and flexible financing, talk to a GRENKE Account Manager today.