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Medical Equipment: Owning Versus Leasing Essay

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Updated: Jun 6th, 2021

When running a medical practice, one needs to consider the choice between buying and leasing equipment carefully. Both options have unique advantages and disadvantages, which must be assessed for each situation individually. Experts’ opinions vary, and this assignment will examine and summarize one of such sources. The column in question discusses the buy-or-lease decision with the help of Mark Hoffman, vice president at Key Equipment Finance.

The article favors leasing and starts by pointing out that approximately 70% of medical equipment is leased and likening leasing such items to cars. Furthering the analogy, Hoffman mentions that hardware begins depreciating the moment it is purchased, and the owner is now responsible for all repair and maintenance costs. Another benefit mentioned is that “the terms can be structured to match whatever the doctor’s office needs” (Rabinowitz, 2016, para. 13), providing flexibility, especially for new practices. Furthermore, leased equipment can be returned once it is no longer needed without the additional cost of hiring a broker. Finally, the column highlights the importance of maintaining an image for physicians, which, in part, consists of new, cutting-edge equipment. Overall, leasing is presented as the more lucrative option, saving practitioners long-term problems of maintenance and depreciation.

Reference

Rabinowitz, E. (2016). MD Magazine. Web.

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IvyPanda. (2021, June 6). Medical Equipment: Owning Versus Leasing. Retrieved from https://ivypanda.com/essays/medical-equipment-owning-versus-leasing/

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"Medical Equipment: Owning Versus Leasing." IvyPanda, 6 June 2021, ivypanda.com/essays/medical-equipment-owning-versus-leasing/.

1. IvyPanda. "Medical Equipment: Owning Versus Leasing." June 6, 2021. https://ivypanda.com/essays/medical-equipment-owning-versus-leasing/.


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IvyPanda. "Medical Equipment: Owning Versus Leasing." June 6, 2021. https://ivypanda.com/essays/medical-equipment-owning-versus-leasing/.

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IvyPanda. 2021. "Medical Equipment: Owning Versus Leasing." June 6, 2021. https://ivypanda.com/essays/medical-equipment-owning-versus-leasing/.

References

IvyPanda. (2021) 'Medical Equipment: Owning Versus Leasing'. 6 June.

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