Why Medical Equipment Rentals Make Sense For Healthcare Facilities

Hospitals and healthcare facilities rely on high-quality medical equipment to ensure patients receive the best care possible. But in some cases, purchasing that equipment may be prohibitive to achieving other essential goals. These organizations are expected to balance costs and other concerns without disrupting the patient experience. One way to accomplish this is through medical equipment rentals.

The average hospital owns or rents over 35,000 SKUs of equipment at any one time. But what are some common reasons a healthcare facility might choose to rent medical equipment instead of buying it outright? Aside from the costs saved upfront, there are some compelling arguments for renting these machines, which are listed below.

• Avoid Equipment Recall Hassles: Recent data revealed that there were roughly 3,000 medical equipment recalls performed in 2015. That means that healthcare facilities have to constantly be concerned about whether their different types of IV pumps and other medical equipment will be safe to use. If equipment is recalled, it must be promptly removed and quarantined to ensure patient safety and facility compliance. These quarantined products must be fixed, returned, or disposed of properly, all of which take time and resources away from the facility's core operations. When you opt for medical equipment rentals, however, you can be assured that the machines you receive will be in excellent working order. What's more, your medical equipment provider will work to ensure equipment is repaired or replaced in a timely manner when FDA recalls are released. This equates to less work for your staff and more streamlined care for patients.
• Alleviate Costly Repairs: Even when recalls aren't a factor equipment requires ongoing maintenance and repairs, regardless of how frequently those machines are used. When a facility owns this equipment, it's solely that organization's responsibility to perform these tasks and ensure the equipment is working as it should. With rental equipment, on the other hand, the agreements reached between the organization and the equipment provider will typically provide support when repairs need to be performed. The easier it is for the facility to have their equipment repaired, the better the patient care and staff efficiency will be.
• Ensure Patient Needs Are Met: In addition to cutting costs and improving facility efficiency, medical equipment rentals can also improve patient satisfaction. Rather relying on older equipment that has been purchased to provide treatment, healthcare centers can ensure that their machines are consistently upgraded in their rental agreements. This allows for technological advancements to be implemented. If rental equipment is needed in specialty cases, the hospital does not need to invest a large amount of capital into purchasing those machines; instead, they can negotiate a shorter term lease agreement to provide necessary care without requiring a substantial investment. Since the medical sector is adapting all the time, rental equipment allows facilities to adapt right along with the industry.

Although there are benefits to both medical equipment rentals and ownership, rental agreements may provide the flexibility and convenience your facility needs. For more information on our rental equipment, please contact us today.