What does Medical Equipment Loan/Funding Mean and its Importance? |
Posted: November 16, 2018 |
Setting up or even expanding a medical clinic can be both exciting and challenging. A lot of arrangements and efforts go into such ventures. Doctors may opt for multi-speciality clinics or specialised ones to cater to their patients. Regardless of the type of clinics and services, one thing remains constant, i.e. medical equipment. Medical equipment, also known as ‘armamentarium’, holds immense importance in diagnosis, monitoring and treatment of several pathological/medical conditions. Procuring such equipment is undeniably a costly affair, and it is not always advised to break your savings for such hefty expenses. In such a case, opting for medical equipment funding is a convenient option. Understanding medical equipment loan/funding:As of 2017, medical device industry in India is estimated to be $5.2 billion. Such growth itself signifies the demand for top-notch quality of medical equipment. Hence, upgrading to the newest technology to obtain faster treatment and follow a smooth line of diagnosis is a must. Thanks to the advent of several Fintech companies that provide medical equipment funding as a part of loans for doctor. Therefore, doctors can go for a medical equipment loan to ensure that such high-end purchases won’t block their cash flow. More into medical equipment & its funding:
Apart from the basic equipment like digital thermometer, stethoscopes, sphygmomanometers, etc., doctors need specialised equipment too. For instance, a cardiologist in his private clinic needs an ECG machine whereas a paediatrician requires incubators to run a smooth practice. Medical equipment funding comes to rescue to fund such expensive purchases according to a doctor’s specialisation. The doctors are eligible to get up to Rs. 35 Lakh and, thus offer superlative service to their patients. There are NBFCs like Bajaj Finserv that offers affordable doctor loan interest rate. It also provides pre-approved offers on physician loans, personal loans, home loans, business loans and several other financial products & services. This exclusive tailor-made scheme helps in saving a lot of time of the existing customers with the simplified process.
Running a diagnostic centre alongside a clinic entail advanced diagnostic equipment apart from the conventional ones. Investing in them will help the doctor to reduce overhead cost and also improve customer satisfaction. Going for this custom-made loan for doctors is extremely beneficial to meet such expenses and also to maintain the costs of other inventory items. Most lenders disburse the funds within 24 hours of post verification of documents. All it takes a doctor to apply online and complete the formalities within a few seconds. Prior to applying, you can read this guide to know everything about doctor loans. Some features and benefits of medical equipment funding:Convenient tenor Healthcare finance given by lenders comes with flexible repayment tenor. A borrower has the advantage of paying the EMIs within a period ranging between 12 and 96 months. Easy to meet qualifying criteria Debtors need to qualify a few basic eligibility criteria for doctor loan. Lenders usually give emphasise on their qualification and work experience. No work experience is necessary for the super specialist doctors. However, MBBS, BDS/MDS & BHMS/BAMS need to have a minimum numbers of work experience post qualification. Unsecured loan Equipment loans for doctors are unsecured financial products. Debtors do not need to pledge any asset as collateral and, thus skip the risk of property seizure in case of payment defaults. Therefore, importance of medical equipment loan in a doctor’s career is immense standing in 2018. Moreover, with the continual progress in technology and medical science, getting the best of machinery and tools is a necessity & no more a luxury. So, whether to improve an existing set-up or start a new one, using a loan proves to be the best way to cater to all the equipment needs. Buy the latest equipment with the doctor loan and offer better healthcare to patients.
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