2 min read
25 May 2021

A loan for doctors is a collateral-free financing option that allows medical professionals to finance several business-related needs. Since it is easy to apply for and is disbursed quickly, you can use the money to boost your practice and provide advanced medical care to your patients. Here are some ways in which you can use a business loan for doctors to provide better healthcare:

1. Adopt digital solutions into your practice

Doctors can use a loan for doctors to digitise operations by adopting electronic health records (EHRs), telemedicine, medical billing software, hospital management software, cloud computing, healthcare wearables, etc., into their practice.

Offering a loan amount of up to Rs. 80 lakh with minimum documentation and at attractive interest rates, loans for doctors help medical practitioners ride the digital wave and offer the best-in-class healthcare treatment.

2. Improve facilities to cater to urgent patient needs

It is important to ensure that your hospital has all the facilities needed for emergency services. For example, having a separate casualty ward stocked with the right equipment and specialised staff can help treat injuries, asthma attacks and strokes.

Additional read: 4 Times your medical practice needs financing

3. Buy state-of-the-art equipment

High-quality equipment is indispensable and all medical practices can benefit from state-of-the-art equipment as it helps diagnose and treat illnesses and even aids in performing surgeries. Purchasing equipment like EKG machines, electrosurgical units, stress systems, diagnostic ultrasounds, defibrillators, patient beds and surgical tables becomes essential to stay competitive.

Taking a customised medical loan for doctors from Bajaj Finserv helps you meet the cost of such expensive equipment.

4. Create improved infrastructure

It is important for your hospital or practice to have spacious and comfortable interiors that also offer you and your patients the best security. This involves ensuring that your facility is replete with access control systems, CCTVs, proper lighting, waiting areas and recovery rooms.

5. Hire more staff and specialised doctors

The right staff ensures that the various departments that you have set up are working optimally. It will also improve delegation and internal communication.

Having dedicated staff to handle various concerns is also a good idea for your practice’s effectiveness and growth. It also builds credibility and improves service quality.

6. Set up an in-house lab or pathological department

To give your patients a holistic experience, you can invest in an in-house lab or pathological department. When you offer multiple services under one umbrella, patients are more likely to choose you over other clinics. This also supplements your revenue.

7. Offer pharmacy services to patients

A pharmacy inside your clinic or hospital completes the eco-system and will be extremely convenient for patients. Setting up a pharmacy will involve hiring a pharmacist and stocking the necessary medicines. You can efficiently track inventory by buying management software.

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