Tag Archives: financing

Precision cryosurgery

As opposed to cauterization, which uses heat in a surgical setting, cryosurgery uses extreme cold to destroy abnormal tissues such as tumors, cysts or precancerous legions. When used as a cancer treatment, cryosurgery, or cryotherapy as it is often called, uses liquid nitrogen to instantly kill the tumors with which it comes into contact.

Though relatively safe compared to other cancer treatments, cryosurgery does involve some risks, such as blisters, scarring, infection and more. To reduce the risks associated with this procedure, the cryosurgical system in use needs to be extremely precise so that no healthy skin or tissue is destroyed in the process.

Wallach LL100_imageSuch precision is at the core of the Wallach LL100 Cryosurgical System. With twice the freeze power of other systems, the LL100 is able to perform tasks more efficiently than ever before. But it’s the exclusive two-trigger design that lets the physician precisely control both the freeze and defrost functions. What this does is allow surgeons to almost instantly freeze or defrost an area they are working on, leading to more accurate and better results.

In addition to giving the surgeon precise control, the LL100 has been designed for versatility and ease of use. For example, there are a wide range of different-sized cryotips to be used in a number of different situations, plus, without shutting off the gas, the cryotips can be changed at any time.

To learn more about this state-of-the-art surgical system, and how you might be able to finance a unit, contact us today at 877-646-3300.

Medical equipment financing: Should I lease or buy?

For those who work in the purchasing departments for hospitals, medical offices or other organizations that use medical equipment, one of the most common questions is not so much what do we need to purchase, but what advantages might leasing medical equipment have over purchasing it?

There is no easy way to answer this question, but a review of the following key pros and cons of leasing vs. buying should help you decide what type of medical equipment financing is best for your situation.

Leasing pros:

  • Low upfront cost
  • Services, maintenance and warranty are often all wrapped up in the leasing price
  • When properly structured, leasing payments are fully tax deductible as an operational expense
  • Easy turnover if you want updated equipment

Leasing cons:

  • Not a good option if you plan to use the piece of equipment for a long time
  • The life of the lease may end up being far more than if you had purchased the equipment
  • You build up no equity, and with no option to resell the equipment, you cannot make any money back
  • Not all equipment can be leased

Purchasing pros:

  • Owning the equipment allows you make needed modifications or adjustments without violating the terms of a lease
  • Various tax incentives under Section 179
  • You don’t have to deal with contracts
  • Many medical equipment manufacturers have fantastic warranties
  • You can recoup some of the costs by reselling the equipment

Purchasing cons:

  • The initial cost can be considerable. This can prevent you from buying exactly what you want as well as tie up funds you may need for other purchases
  • Equipment may become outdated, especially digital technology
  • You must keep up with maintenance and front the cost of most repairs

Save Big with Section 179

Small business owners rejoice! With the Section 179 deduction, you can save big. Business owners who acquire equipment for their business, including medical equipment — like EKG machines and spirometers — are eligible for a section 179 tax savings.

What is Section 179?

As of January 1, 2016, the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act) was passed by both the U.S. House and Senate and signed into law. This bill expanded the Section 129 deduction limit to $500,000. This tax savings allows a small business to obtain an enhanced deduction on equipment and software purchased or financed during the single tax year. In 2016, the spending cap on equipment purchases is $2,000,000, making Section 179 a true incentive for small business.

What else is new for 2016?

The 50% Bonus Depreciation will extend through 2019. This means businesses of all sizes can depreciate 50 percent of the cost of equipment acquired during 2015, 2016 and 2017. In 2018, the bonus depreciation will phase to 40 percent, and 30 percent in 2019.

Important for the 2016 Tax Year:
Section 179 provides significant tax relief, but only if you finance in time. All equipment and software must be financed and put in place by 12:00 a.m. on December 31, 2016.

Want to find out how much you can save? Check out this Section 179 Qualified Financing Calculator to see how much your business can save.

Is it Better to Finance or Lease?

Contemplating whether leasing or buying medical devices is the best option for your practice? You are not alone. Numerous medical offices make the same decision every day. Devices come in all shapes and sizes, but they also come in varying prices. For those big-ticket items, it may not be feasible to pay for the device outright. Fortunately, there are two different payment options that may fit the bill for those larger devices.

Leasing

With the constant flux of technology, leasing more expensive machines protects against obsolescence and an empty wallet. With a lower upfront cost you can save for other areas of the practice and get a tax break as well for the lease payments. The company that owns the equipment will also handle maintenance and repairs so you don’t have to foot that bill. Not all of Medical Device Depot’s products have a leasing option, but many do.

  • Updated equipment
  • Low cost
  • Maintenance covered

Financing

This is an option for all credit types and new and established businesses. The number-one advantage you will immediately recognize when you opt for financing is that you will own the device. Some practices value being able to treat equipment like it is their own, which also means selling it when they are done with it. Others, however, prefer to trade their equipment for a newer model when a lease’s term is up. There is also no re-negotiating to continue using the product when you own it.

  • Ownership
  • Resale

If you have any questions about what pricing option is best for you and your practice, the customer service staff at Medical Device Depot can help you find the solution that fits. The phone will always be answered by a trained representative who is ready to help you find the best option for your practice. Whether this is your first time buying from Medical Device Depot or your tenth, they will be eager to find a unique solution to your current needs and pricing limits. When it comes to making large financial decisions, the customer service representatives will leave you feeling supported and secure.