Acquiring and updating medical equipment can be a very expensive undertaking that can quickly cut into the profit margins of your private medical clinic. Medical equipment can also cost your company money as a taxable purchased asset even when it is no longer functioning as well as it once was or is no longer attracting clients. Ensuring your company has up-to-date equipment that can keep costs low by reducing capital expenditures and taxes while also satisfying patients is a great way to increase the profitability of your private medical clinic. To achieve low costs with increased revenue, medical equipment leasing is the solution.
Lower Capital Expenditure
Medical equipment can be very expensive, and purchasing any medical machine outright will require a lot of liquid capital. This is exacerbated when your clinic requires multiple devices to offer patients an array of services and to make your company highly marketable. With medical equipment leasing, you will not have to pay the initial capital expenditure you would have to if you bought the equipment outright, and can instead pay gradually over the course of your lease. This allows for more cash flow that your medical company can use for other expenses.
Keep Up With Changing Technology
There is constantly new research happening in the medical field, including rapidly advancing technology. When you lease your medical equipment, you can update to a new lease with brand new equipment once your initial lease ends. This saves you from using outdated equipment that decreases in value and results in losses if sold. Having the ability to consistently upgrade medical equipment not only keeps your medical practice up-to-date but also establishes your reputation as a medical practice that keeps up with emerging technologies and treatments with top of the line equipment. This positive perception can give your clinic an advantage over your competition who are using older machines.
As your medical equipment is in use, you will begin generating revenue, some of which will be going towards the equipment lease so that your medical equipment essentially pays for itself without the need for a large initial expense. As this equipment generates revenue, it gives your company the opportunity to lease more equipment that can help your company expand its services and generate more revenue, growing your private medical clinic.
Write Off Payments
Instead of writing off the depreciation value of your equipment, your medical clinic can write off the whole price of the leased equipment, saving your clinic money on taxes. Since the leased equipment is registered as leased assets instead of purchased assets, your private medical clinic will have tax-deductible benefits against your lease payments.
Avoid High Bank Payment
Whereas banks will charge large amounts for a down payment as well as high-interest rates for loans, medical equipment leasing typically only requires one month paid in advance. Using equipment leasing for your medical clinic also offers flexibility of payments so that you can customize your payment plans for what is most beneficial for your business. This generates the necessary cash flow for your private medical clinic.
Whether you’re just starting your private medical clinic or you’re interested in expansion, medical equipment leasing can give your company the technology it needs to stay competitive while facilitating cash flow. Partner with a reliable leasing company that puts the goals of your business first and offers flexible financing. At First Capital Leasing, our team is dedicated to helping you grow your business and reach your goals through an equipment leasing strategy that aligns with your budget and medical clinic needs. First Capital Leasing will help you finance the equipment you need to outpace the competition and provide your customers with the most up-to-date medical technology. To begin your partnership with First Capital Leasing, either call 1-888-251-3644 or fill out the online contact form.
Q: How do I start the application process with First Capital Leasing?
A: Simply fill out this one-time online application form to partner with us for your financial solutions. First Capital can approve your application in 4 hours or less and pay your supplier in as little as 24 hours.
Q: Why work through First Capital Leasing Ltd. instead of leasing my medical equipment directly?
A: You certainly can lease your equipment by yourself, but your supplier may not be as flexible as we are. We offer tailored financing solutions at superior rates that perfectly align with your budget and timeline.
Q: If my company is not based in Calgary or Alberta can I still use First Capital for equipment leasing?
A: Yes, while First Capital is based out of Calgary, our commercial leasing services are not limited to Calgary or Alberta.
We'd love to have the opportunity to understand your business and develop a strategy customized to your business' short-term needs and long-term goals. We boast a 95% approval rate through our vast network of underwriters (including a robust private portfolio).
Contact us at 1-888-251-3644 or complete the online contact form below. We look forward to connecting with you.