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5 Reasons to upgrade your medical equipment today

  • Highlights

  • Limited budget restricts clinics to update equipment

  • 5 benefits of upgrading to the latest equipment

  • Medical technology market in India

  • Financing the upgrade

For clinics, medical facilities, veterinary and dental practices, outfitting your medical facility with the most updated equipment and devices on a limited budget can be a challenge. Regardless of the services you provide, your medical facility will eventually need new equipment.

What is medical technology?

Broadly, any technology that extends and improves life, and alleviates pain, injury and handicap falls under medical technology. These healthcare products are used specifically for diagnostic and/or therapeutic purposes. Medical technology constitutes everything from wheelchairs and MRI machines to insulin pens and surgical instruments.

Medical technology in India

The Indian government has in recent months slashed prices of medical devices such as knee implants and heart stents by up to 75 per cent to make them more affordable. But the $5 billion Indian medical-technology industry has protested these moves, saying they hurt innovation, profits and future investment.
Despite the incredible growth seen in the healthcare industry in India, the spend per capita on medical technology is approximately $ 2, which is much lower when compared to China ($ 5) or Germany ($ 231). To address the challenge of low penetration, the medical technology industry in India needs to innovate. But because medical equipment developments happen quickly, cost is an issue. For example, the x-ray viewer can cost approximately Rs.13,000 for the basic models. A single MRI machine could set you back by about Rs.1 crore.
Doctors can grow their practice, by offering superior medical treatment with the latest to get some equipment together and that is where innovative products like business loan for doctor and loan against property for doctors comes into play.

Why upgrade?

- Faster Treatment, Easy to Work With

The new technology you get with newer equipment means you can obtain results faster than you would with older equipment. This means your patients don’t have to wait as long. New medical equipment’s are more user-friendly hence easily operated by technicians.

- Shows Patients That You Care

When you upgrade your equipment, you’re sending patients the message that their well-being matters to you. It also communicates your dedication to providing patients with answers to their medical problems.

- It Allows You to Help More Patients

Once you’ve obtained your upgraded medical equipment and your current patients start talking to others about it, you may end up with many new patients who are confident in your ability to provide them with the best service.

Loan Against Property for Doctors

How your practice can benefit from Business Loan for Doctors

Your practice can manage its day-to-expenses like paying staff, maintaining a health cash flow, etc. and meet expansion needs such as upgrading to the latest equipment and technology, buying a new clinic space, etc. with a Business Loan for Doctors offering capital up to Rs.35 lakh.

- Patients Won’t Have to Travel

Instead of having to refer patients to a location where equipment’s are more up to date, you can instead treat them at your own place of business. This not only increases your earning potential but also elevates your reputation as a knowledgeable and competent physician.

- Equipment Maintenance Costs Are Lower

Having older equipment means more frequent maintenance, which can raise costs. With newer equipment, there’s no need to worry about frequent repair. Instead, you need only deal with routine maintenance that ensures long equipment life.

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