Types of Medical Equipment Eligible for Finance
There are funding solutions available for virtually any kind of medical device or healthcare equipment, including:
- Diagnostic imaging equipment (MRI scanners, CT scanners, X-ray machines etc.)
- Patient monitoring devices (ECG, EEG, cardiac output monitors etc.)
- Surgical and treatment equipment (operating tables, lights, lasers etc.)
- Dental equipment (chairs, X-ray units, CAD/CAM systems etc.)
- Physiotherapy and rehabilitation equipment
- Medical facility fit-outs and expansions
- Practice management software and IT infrastructure
Finance Options for Medical Equipment
Depending on your requirements and preferences, there are different finance products you can utilise - here's a brief overview:
- Hire Purchase Pay a deposit upfront and then monthly instalments until you own the equipment outright. You can claim tax relief on the interest portions.
- Finance Lease Pay a monthly rental fee to use the equipment for a fixed period, without ever owning it. Claim back full rental payments as an expense.
- Operating Lease Similar to a finance lease but with bundled maintenance and insurance in a single payment. Equipment is returned or lease extended at end of term.
- Rental A ultra-flexible, short-term rental agreement for temporary equipment needs.
- Lease Purchase A lease agreement with an option to purchase the equipment at the end by paying the residual value.
How Medical Equipment Financing Works
At Clifton Private Finance, we understand that financing costly medical equipment can seem overwhelming. Our team of experts is here to guide you through the process and make it as seamless as possible. Financing medical equipment through us is a straightforward process similar to any other type of business loan or asset finance.
Here's how it typically works:
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Discuss Your Requirements - Start by discussing your specific equipment needs and budget with our specialist brokers. We'll take the time to understand your practice, clinic or facility's demands - whether you require diagnostic imaging systems, surgical equipment, therapy devices or an entire clinic fit-out. Our brokers will assess your financial situation and advise on the best financing options.
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Select Equipment & Agree Terms - With our vast network of trusted medical equipment suppliers, we'll help you choose the ideal machines, devices and technologies to meet your clinical requirements. We'll negotiate competitive pricing and terms on your behalf directly with suppliers.
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Sign Finance Agreement - Once you've selected your equipment and preferred financing option (lease, hire purchase etc.), you'll sign the finance agreement documentation. Our lender partners will then pay the suppliers directly so you can receive the medical equipment without any upfront costs.
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Receive & Install Equipment - As soon as the finance agreement is in place, the equipment can be delivered and installed at your premises right away with minimal disruption to your operations.
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Make Regular Payments - You'll simply make manageable, fixed monthly payments over the agreed term, tailored to your cash flow. Our team will structure an affordable payment plan that suits your budget.
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End-of-Term Options - At the end of the finance term, you have flexibility based on your agreement type. Options typically include purchasing the equipment outright, returning it to the lender, or upgrading to newer models using a new finance agreement.
Don't let upfront costs prevent you from accessing critical medical technology and equipment. Contact our team today to discuss your financing requirements. We'll guide you through the entire process, explore all the available options, and ensure you have the equipment you need to provide exceptional healthcare services.
Benefits of Medical Equipment Finance
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Conserve Working Capital - By spreading costs, you can preserve cash reserves for other expenses.
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Tax Efficiency - Payments can be offset against taxable profits, providing tax relief.
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Asset Management - Avoid issues of obsolescence and costly upgrades/disposals.
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Cost Control - Fixed regular payments allow easy budgeting.
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One Provider - We arrange both equipment and funding from a single source.
Potential Drawbacks of Financing
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Long-term Costs - The total cost after interest can exceed cash purchase price eventually.
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Credit Checks - Applications involve credit assessments which can impact credit scores.
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End-of-Term Options - Return, extend or purchase asset per the agreement terms.
Talk to the Medical Asset Finance Experts
Whether you require an MRI scanner, ECG machine, surgical table or any other critical healthcare equipment, our team at Clifton Private Finance can provide expert guidance and arrange affordable financing tailored perfectly to your needs.
How We Can Help
Looking for medical equipment finance in the UK? Our expertise can assist with:
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Evaluating Finance Options - We'll assess if financing is the optimal solution for your practice, clinic or facility's equipment requirements.
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Recommending Suitable Products - Our specialists will determine the ideal finance types based on your usage needs, budget and business plans.
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Structuring Affordable Terms - We'll calculate manageable rates, payment schedules and terms to maintain healthy cash flow.
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Streamlining the Application - Leave the entire finance application process to us, from documentation to securing approval.
With our extensive panel of specialist medical equipment lenders, we leverage robust relationships to negotiate competitive rates and flexible packages aligned precisely with your situation.
Don't delay in acquiring the essential machines and technologies to enhance your healthcare services. Discuss your medical equipment financing needs with our experts today. We're committed to supporting your ambitions through smart, tailored funding solutions.
