2 min read
25 May 2021

In 2020, the Indian medical devices industry was valued at over Rs. 8,37,11,10 lakh, and expected to reach Rs. 38,05,05 lakh by 2025. This growth indicates the high demand for quality medical equipment, which forms an integral part of your practice. The right equipment improves your patient care accuracy and speeds up your diagnosis. From basic wheelchairs to MRI machines and dental X-ray machines, your equipment needs will vary according to your specialisation and set-up. Since the purchase of these essentials can be both expensive and urgent, a customised loan for medical professionals offers a convenient and fast funding option.

Here's how you can finance your equipment purchase with a customised business loan for doctors:

1. Buy tools specific to your specialisation with a substantial loan amount

Every doctor needs access to certain tools like a digital thermometer, sphygmomanometers, and stethoscopes. But, based on your speciality, you will need specialised equipment too. This will mean EKG machines for a cardiologist, spirometry machines for an ENT, and incubators for a paediatrician. Without this equipment, you won’t be able to run a smooth practice.

You can fund these expensive purchases using a customised business loan for doctors from Bajaj Finserv. Here you can get up to Rs. 80 lakh to make your purchase without offering collateral. You can also make use of a long repayment tenor and Flexi loan facility when you choose this loan.

2. Get high-end diagnostic equipment with easy application and quick disbursal

If you are running a diagnostic centre alongside a clinic, you will want to equip your facility with advanced diagnostic equipment like several powerful microscopes and laboratory management software, for example. This will allow you to analyse specimens and inform both the patient and the doctor when the report is ready and email it to them. Investing in this advanced technology allows you to save time, ensure that each specimen is properly examined, reduce overhead costs and improve customer satisfaction. Besides this, you will also have to maintain a substantial inventory of items like sterile gloves, gowns, medicated sheets for exam tables, cotton wipes, gauze, sample containers, slides, test strips and syringes.

In this regard, a doctor loan is extremely beneficial. Apply for it online and get access to funds within 48 hours. Since this is a custom-made loan for you, most lenders will give you access to the loan simply based on your educational qualification and work experience, as long as you can furbish documents that back this information.

So, whether you’re looking to improve the quality of your existing set-up or want to expand operations to a second facility, using a loan for doctors proves to be the best way to cater to all your equipment needs.

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