Keep These 7 Points In Mind Before Purchasing Medical Equipment

The Indian healthcare sector consists of hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. Today, healthcare has become the country’s largest sector, both in terms of revenue and employment. The demand for medical equipment is also expected to rise manifold to cater to the needs of the growing market.

As a doctor running your own practice, latest medical equipment can drastically improve your productivity, capacity and processes. However, acquiring these tools requires significant investment, and medical professionals usually do not have that amount of money. In such cases, a medical equipment loan can come to your rescue. But, before going ahead with the purchase decision, you must keep these below-mentioned points in mind.
 

• Explore medical equipment financing options - Purchasing of medical equipment is capital-intensive, hence exploring finance options is a wise choice. By availing medical equipment loan, the cash is available for working capital needs, and to meet other day-to-day expenditures. Medical equipment loans are broadly classified into three main categories - a) Loan for Doctors, b) Loans for non-individuals—viz., private companies, partnership firms, Trusts and so on, c) Loans for Dentists. Many financial institutions offer easy payment terms and flexible tenure that could reduce the overall cost of the equipment.

 
Also Read: How Medical Equipment Loan Eases the Purchase of Healthcare Equipment?
 

• Go for the warranty option - A crucial factor to consider before purchase of medical equipment is to check the warranty contract available. Go for extensive warranty option that covers even the maintenance service of the equipment. The warranty will ensure protection from the high servicing costs in case of breakdown in the machinery/equipment. These warranties are well worth the added fees.

 

• Research and evaluate the dealers - A thorough research of well-certified, quality dealers with rich experience in selling medical equipment that meets the medical standards is a must to get quality and most advanced products. A reliable supplier that provides varied and decent selection of products along with good after-sales and service is also an important factor. 

 

• Design the room to create space for new equipment– An extensive study about placing the medical equipment and creating sufficient space would assist in designing the room accordingly. The exercise should also include the electrical and plumbing connections.