While providing medical care is exceptionally complex and requires decades of study and training, the formula for practice sustainability is simple: doctors that cover their overhead and generate sufficient profit to justify their opportunity cost are in good shape.
While doctors that cannot cover their overhead costs are at risk of going out of business entirely.
Indeed, a survey conducted by the medical reference website MDLinx revealed that 17% of doctors felt that shuttering their practice was a real possibility because of factors like massive medical school debt, increasing business expenses and administrative costs, shrinking insurance reimbursements, and excessively costly malpractice insurance.
In light of the essential need to balance quality patient-centric delivery of care with smart and strategic business practices, a growing number of doctors are turning to equipment financing in order to strengthen and expand their practice — and pave the way for long-term sustainability.
If you’re among the medical professionals researching these funding options, then here are 4 best practices for doctors’ equipment financing to point you in the right direction:
At National Business Capital & Services, we understand that delivering quality patient care and running a strong, sustainable and profitable practice must go hand-in-hand.
That’s why we offer easier, faster loans for doctors and dentists than any other lender, with exclusive benefits just for healthcare professionals to help grow their practice.
We also provide affordable and flexible doctors’ equipment financing to physicians nationwide. To learn more, contact us today at (877) 482-3008 for a free consultation.
Or, apply for medical practice financing today by filling out a 60-second application online, and get the funds you need in as little as 24 hours. It would be an honor and privilege to be part of your practice’s success story.
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Megan Capobianco is the Marketing Manager at National Business Capital & Services. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.