Medical Equipment Leasing Costs: Monthly Rates, Real Examples & Top Providers
Last Updated: June 07, 2023
Fact Checked By: Ashley Smith
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Leasing medical equipment is not just for startups that are short on cash. Medical equipment becomes outdated in just a few years.
Because of this, leasing equipment rather than buying is a great way to maintain a state of the art facility.
With a medical equipment lease you pay only the amount the equipment is expected to depreciate while it's in your hands.
A typical lease lasts anywhere between one to five years. When the lease ends you can trade in the equipment for a new model.
Clinics, doctor's offices, and hospitals all lease healthcare equipment. Such equipment includes the following:
- Diagnostic equipment
- Medical imaging equipment
- Medical lab equipment
- Medical office equipment
- Surgery equipment
- MRI machines
- Computers
- EMR Software
- X-rays
- Ultrasound machines
- Surgery tables
The Cost of Leasing Healthcare Equipment #
The cost of leasing medical equipment depends on the type of equipment you need, its cost, and your credit score.
A standard rate for leasing business equipment is $60 to $80 per month for every $1,000 purchased.
At this rate a $10,000 machine will cost you $600 to $800 per month while a $50,000 machine will run $3,000 to $4,000 per month.
Many medical equipment financiers and financial websites offer online payment calculators to help you estimate the total cost of an equipment lease
Here are some examples of expected monthly lease payments for healthcare equipment that costs $150,000:
| Credit Rating | Contract Length | Monthly Payment |
|---|---|---|
| Great Credit (650+) | 60 months | $2,899.92 |
| Great Credit (650+) | 63 months (first 3 months off) | $2,977.28 |
| Decent Credit (600 - 650) | 24 months | $7,025 |
| Decent Credit (600 - 650) | 36 months | $4,946 |
| Decent Credit (600 - 650) | 60 months | $3,298 |
| Bad Credit | 24 months | $7,855 |
| Bad Credit | 36 months | $5,808 |
| Bad Credit | 60 months | $4,220 |
Real Life Medical Equipment Leasing Cost Examples #
"Our clinic leased new patient exam tables, digital x-ray machine, ultrasound unit, and mobile computer workstations on a 5 year lease at $1,875 per month for the $135,000 in equipment." - Dr. Sarah, Clinic Manager
"I leased an autoclave sterilizer, 2 dental chairs, x-ray system, and set of dental tools for my new practice. The 60 month total lease cost is $875 monthly for the $63,000 equipment." - Dr. Michael, Dentist
"We added a new MRI machine, CT scanner, and radiology equipment to our imaging center via a 7 year lease at $7,100 per month for the $597,000 system." - Mary, Imaging Center Director
"Our rehab facility leased parallel bars, therapy mats, resistance bands, ultrasound machines, and stability trainers. The 4 year lease was $1,990 monthly for $95,000 of rehab gear." - John, Rehab Director
"I run a small IV therapy clinic and leased infusion chairs, IV poles, monitoring equipment, and loungers on a 3 year $4,100 monthly lease." - Theresa, Clinic Owner
"We leased new patient room beds, vital sign monitors, mayo stands, protective gear, and mobile computer stations on a very affordable 5 year $2,875 monthly lease." - Sam, Medical Center Manager
As shown, leasing essential medical equipment allows healthcare facilities to provide quality care while meeting their budgets with fixed monthly payments for the necessary gear and systems.
Healthcare Equipment Leasing Options #
Medical equipment leases are available for equipment ranging in price from a few thousand dollars to several million. In addition to ensuring that you always have the most modern equipment, leasing instead helps conserve cash for other expenditures. Lease payments are also tax deductible.
Medical equipment leasing companies offer both new and used medical equipment. Most leasing terms are 12 to 60 months, but some companies will go up to 84 months.
Some companies offer 100% financing with no down payment required. Some even include soft costs like shipping, installation and training in the monthly lease payment.
Others require a down payment, security deposits, and the first and last month's lease payments upfront.
With some companies, flexible payment options are available. They include deferred payments, seasonal payment fluctuations or step up or step down payment plans.
For a nominal fee, usually about $100 to $200, you can include an option to buy the equipment when your lease expires.
Top Medical Equipment Leasing Companies #
Here are some well-known medical equipment leasing companies that are often regarded as top choices:
- Balboa Capital
- CIT Group
- National Funding
- Crest Capital
- Bank of the West Equipment Finance
- First American Healthcare Finance
- TimePayment
- LeaseQ
- Wells Fargo Equipment Finance
- U.S. Bank Equipment Finance