Med One Blog

Renting Medical Equipment: Advantages to Consider

Renting Medical Equipment

When it comes time to outfit your healthcare facility with necessary medical equipment, you face an important decision: should you buy the equipment outright or should you consider medical equipment rentals instead? While owning this equipment may seem like the clear choice in certain situations, you may not be considering all the advantages that hospital equipment rentals can provide. In today’s post, we’ll talk about why renting this equipment may be the best option for many facilities.

  • You can try out newer technology before making a financial commitment.
    Many physicians, especially those with smaller practices or who are just starting out, don’t have a lot of extra income to devote to purchasing all new medical equipment. But they also don’t want to sacrifice the quality of care for their patients. Even established medical providers may know a particular type of new equipment could be an amazing asset but aren’t ready to make a financial commitment until they’re sure of the payoff. Often, medical equipment rentals can allow healthcare providers to try out new offerings without economic risk. When you purchase a piece of medical equipment, there is a possibility that it can be detrimental if the purchase overestimated the need for the equipment. But renting medical equipment can allow you to have access to high-quality without taking on an undue financial burden. You may even use the rental agreement as a tax write-off, which can further reduce the monetary risk.
  • You can reduce the interruption of valuable services.
    There are pieces of equipment that need to be repaired or replaced frequently. This can be problematic for many facilities as their patients’ quality of care could be impacted during the time period this equipment is being serviced. If your medical center has experienced service interruptions in the past because of necessary repairs or replacement, pursuing medical equipment rentals can allow you to minimize or eliminate this problem in the future. Having rental equipment on-hand can allow you to provide the services your patients need while ensuring repairs won’t be delayed. Maintaining purchased equipment also can represent higher costs and wasted time, but medical equipment rentals may alleviate some of these duties, as well.
  • You can improve your practice’s reputation.
    Data from the University of Michigan Health System reveals that approximately 86% of all patients admitted to hospital beds require infusion pumps. But when equipment evolves quickly or requires frequent maintenance, this can make it difficult for many facilities to keep up with trends and requirements. Ultimately, that reflects poorly on the facility itself. No patient wants to be treated with outdated equipment or will feel favorably about their treatment process being delayed due to repairs. If you’re able to rent the equipment your facility needs and that will impress your patients, you can actually improve their overall experience and boost your brand reputation in the long run.

Realistically, patients won’t judge your facility on whether they own or rent the equipment; they merely care that it works perfectly and provides them with the best possible treatment. And if your facility can save money and time as a result of renting equipment rather than purchasing, this can be a huge bonus. While every facility’s needs will differ, renting medical equipment may be helpful for centers across the country. To find out more about our medical equipment rentals, please contact us today.