Medical Equipment Purchasing Decisions: Buy Or Lease?

When it comes to medical equipment, the question isn’t whether you need it. Of course you do. The question isn’t what equipment types you need, because that is easily determined by the type of services you provide and the types of patients you treat. No, the real question is whether you should buy or lease your equipment. There are good arguments to be made for either decision, but the argument essentially boils down to two issues: state of the underlying technology and volume of testing to be performed.

The first thing to consider is whether the technology behind the equipment is established or in a state of rapid change. Take the microscope, for example. The design of the microscope is fairly well fixed. If you can look into the microscope and see what you need to see, your piece of equipment is a winner. In the cases of equipment such as this, it makes sense to buy. You can usually buy this type of equipment very cost effectively, and even find good quality equipment that has been previously owned yet is still quite serviceable. Other examples of technologically stable equipment include hematology analyzers and ultrasound machines.

On the other hand, if the technology the equipment is based on is rapidly changing, it makes sense to lease the equipment. By leasing you have the option of trading up to the most advanced model available and do not find yourself still paying for a piece of equipment that is out of date and not up to current standards or specifications. For example, a machine that uses the latest enzyme chemistry to analyze a biological product, such as a chemical analyzer, may be supplanted by a new testing methodology, such as a new enzyme substrate. If you have purchased such a machine, you are suddenly in possession of an obsolete piece of equipment. If you have leased the machine, the terms of the contract should obligate the manufacturer to provide the new advance. Leasing equipment in these circumstances allows you to maintain the highest degree of accuracy and quality patient care.

The second primary consideration is whether the piece of equipment is used occasionally or whether it is a high volume machine. Machines that are in constant use or must be used to produce a large number of results during the day are more likely to be subject to catastrophic failure. An example of a machine of this type would be the chemistry analyzer we mentioned earlier. The leasing company should provide manufacturer-approved maintenance and service and be able to provide rapid repairs or replacement in the event of failure to minimize downtime of crucial services.

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