The Essential Qualities of Capital Medical Equipment
Capital medical equipment refers to expensive pieces of equipment used to diagnose and treat patients in hospitals, surgery centers, clinics, and doctors' offices. These pieces of equipment vary based on the type of facility and the services they provide. Examples range from CT scanners and X-ray machines to infusion pumps and C-Arm machines.
Capital medical equipment usually requires a significant initial investment. As such, many facilities find it helpful to rent medical equipment through an established medical equipment rental company. Capital medical equipment helps to increase patient diagnosis and treatment accuracy while also allowing healthcare organizations to generate revenue by providing more efficient services.
From price point to durability, there are various factors to consider when selecting the right medical equipment for your hospital, surgery center, clinic, or doctor’s office. Read on as we examine the essential qualities of capital medical equipment and why they should be considered.
Capital equipment often conjures up the image of large, heavy items. But this is not always the case. Capital equipment can come in all shapes and sizes. Take a ventilator. It qualifies as capital equipment - yet it's likely much smaller and more compact than an MRI machine.
Similarly, a syringe pump could also be considered capital equipment despite its lightweight size and minimal space requirements. These examples demonstrate that capital equipment doesn't necessarily mean bulky or cumbersome devices. Instead, it can encompass a variety of different items depending on their purpose and cost.
The exact cost-defining benchmark for capital equipment varies from institution to institution. For example, a larger hospital with more resources might set the benchmark for capital equipment at $4,500, while a smaller clinic may have its marker at $1,500.
Depending on the machine's or apparatus' purpose, it may require other items to work efficiently. For instance, an ultrasound machine may need a dedicated power source and monitor to function correctly.
Furthermore, items below the threshold cost can be bundled together to qualify as capital equipment. For example, suppose a business wants to purchase new office furniture for its employees. In that case, they may consider buying a few items that individually may not meet the threshold cost for capital equipment. However, if those same items are bundled together as a single purchase, it could exceed the set threshold and qualify as capital equipment.
Capital medical equipment has to be physical–it must occupy space and be touchable. It should have the ability to be tagged and inventoried. If not, it cannot be classified as capital medical equipment.
Medical equipment must be durable enough to withstand daily use without breaking down or needing frequent repairs. To be classified as capital equipment, an item must endure for at least one year before becoming worn out or outdated. Unlike other purchases that may be sold or disposed of shortly after purchasing, capital equipment is intended to be kept and used for the long term.
Selecting medical equipment designed with a long life expectancy is essential so you don't have to replace it often due to wear and tear. As these items age, they depreciate and may become outdated or no longer in good condition. Partnering with Med One, a responsive medical equipment sales, rental, and leasing company, can help prevent this from happening.
Med One provides the latest, highest-quality medical equipment at competitive prices while offering tailored services to meet your facility’s needs. With our expertise and guidance, you can be sure your medical equipment investment will be safe and secure for many years to come.
When choosing capital medical equipment for your healthcare facility, consider the price point, size, tangibility, durability, and longevity before making a purchase decision. That way, you get maximum value out of every dollar you spend. Also, remember that your investment can be recouped over time when the medical equipment is used for its intended purpose.
When partnering with an established medical equipment supplier like Med One, you can rest assured that whatever medical equipment you choose will last for years while providing optimal safety and efficacy during treatment administered within your facility. For more information on medical equipment rental, leasing, or sales for your healthcare facility, contact Med One today.