You are starting a new clinic, or own a medical practice, or run a hospital and are in need of new or used ultrasound machines. You have several questions that you are trying to process and think through–
How much does an ultrasound machine cost? How much would Ultrasound machine leasing cost? How do you get qualified?
I’ll help you explore the answers to these questions so that you’ll feel more comfortable about ultrasound machine leasing
Ultrasound Machine Price
Ultrasound machines have a fairly wide price range depending on its level of complexity. An obstetrician’s or a gynecologist’s clinic may have a simple low end black and white ultrasound machine.
A hospital or a prenatal specialist who reviews fetal complications might use a high end 4D ultrasound machine.
The price ranges from about ~$15,000 to ~$225,000 or more.
Whenever you mention ultrasound, everyone thinks about monitoring a baby fetus during pregnancy. Ultrasound is used for non-intrusive monitoring as well as running diagnostics that include but not limited to checking the health of the liver, kidney etc.
Generally, as a rule of thumb, most of the clinical or diagnostic needs can be met with ultrasound machines that fall in the price range of ~$25,000 to ~$85,000.
Ultrasound Machine Leasing - Things to Consider
When you acquire (lease or buy) an ultrasound machine for your medical practice or hospital, you need to take the following costs info consideration:
- Ultrasound Machine Choice: Evaluate what your need is and get the equipment that meets your practice’s requirements. If you spend more than required, you are not going to gain anything, however, you will end up hurting your bottom line.
- Maintenance: Ultrasound machines require regular maintenance that includes cleaning, calibration, and routine service etc. Check with manufacturer / dealer what to expect in terms of maintenance costs on an annual basis.
- Training: Ultrasound machine is a high dollar equipment. It would be prudent to get training from the dealer. Check if the dealer offers free training. If not, find out how much training would cost and add that to your cost of acquisition.
- Accessories: Think about all the accessories you might need – ultrasound printer, type and quantity of probes needed, cart for the ultrasound machine etc.
- Operating Costs: Gel, latex gloves, lotion, and wipes are examples of things you would constantly be using as you switch from patient to patient. These costs quickly add up.
You will save yourself a lot of headache by thinking ahead and planning for all these expenses upfront.
Qualifying for Ultrasound Machine Leasing
Qualifying for ultrasound equipment leasing can either be really easy or particularly difficult, but never impossible. In fact, companies like yours who are in the healthcare industry (typically every practice that needs an ultrasound machine) have a much easier time getting financed than other industries. What it really comes down to is the credentials that your business has.
How good is your credit score? How long have you been in business? How long do you want to make payments for? How much does the ultrasound equipment cost? These are just a few questions you’ll need to have prepared when reaching out for ultrasound equipment lease.
Ultrasound Machine Leasing with Great Credit
If you have great credit, chances are you can go directly to the manufacturer or dealer of ultrasound machines and equipment. They’ll have some of the best ultrasound equipment financing options available to you (sometimes at no additional cost). If the ultrasound machine companies don’t have financing options, a bank is usually your next best bet to get an ultrasound equipment loan, although it may take longer to qualify.
Ultrasound Machine Leasing with OK Credit
If you don’t have “perfect” credit, you can still get away with fairly decent financing rates. An ultrasound business can contact a financier to get an ultrasound machine lease that will allow them to get the equipment they need while stretching out the purchase over monthly payments for a set number of years.
Ultrasound Machine Leasing with Bad Credit
Even if you have bad credit, don’t worry. You can still get a lease or a loan for your ultrasound machine rental or purchase. The process to qualify is about the same as if you had OK credit, but the only major difference is that you’ll have to pay more per month and may have to make a larger down payment upfront.
Ultrasound Machine Leasing Cost
Naturally, there’s no one single answer to “how much does an ultrasound machine cost?” The amount of money you’ll have to put forward for your ultrasound machine cost will depend on the type of financing you pursue.
Unsurprisingly, the better your credits core and other business credentials are, the lower monthly payments and overall cost will be. As your business experience and credit score gets lower, the price begins to increase.
Below are just a few average estimates that you could expect for monthly payments based on $20,000 with a $1 buy out as a non MD owned company.
- New Business - Great Credit (675+) - $900/mo (2 years) or $515/mo (4 years).
- New Business - OK Credit (640-675) - $925/mo (2 years) or $498/mo (4 years).
- New Business - Bad Credit (590-640) - $1.3K/mo (2 years) or $755/mo (4 years).
- Existing Business - Great Credit (675+) - $875/mo (2 years) or $460/mo (4 years).
- Existing Business - OK Credit (640-675) - $900/mo (2 years) or $515/mo (4 years).
- Existing Business - Bad Credit (590-640) - $1.2K/mo (2 years) or $725/mo (4 years).
Below are just a few average estimates that you could expect for monthly payments based on $50,000 with a $1 buy out as an MD owned practice.
- New Practice - Great Credit (675+) - $2.3K/mo (2 years) or $1,255/mo (4 years).
- New Practice - OK Credit (640-675) - $2.4K/mo (2 years) or $1,315/mo (4 years).
- New Practice - Bad Credit (590-640) - $2.7K/mo (2 years) or $1,550/mo (4 years).
- Existing Practice - Great Credit (675+) - $2.2K/mo (2 years) or $1.2K/mo (4 years).
- Existing Practice - OK Credit (640-675) - $2.3K/mo (2 years) or $1,275/mo (4 years).
- Existing Practice - Bad Credit (590-640) - $2.5K/mo (2 years) or $1.5K/mo (4 years).
Utilize the below ultrasound equipment lease calculator tools to get an amortization schedule.
- What will my ultrasound financing payments be? Using an equipment financing calculator.
- How much ultrasaound equipment can I afford to buy? Using an equipment lease calculator.
- What will my ultrasound equipment lease payments be? Using an equipment lease calculator.
As your credit score gets lower, the monthly rates naturally continue to go up. The number of years you have been in business can also impact the cost of your monthly payment.
Ready to Apply for an Ultrasound Device Lease? Click the link below!