The use of the Technology Rental Program represents only a single-digit premium to the cost of a cash purchase, so the flexibility provided by the program is truly a bargain.
CLEVELAND, OH (PRWEB) October 10, 2012
MedVentures LLC, a leading healthcare services company, has announced the launch of its Technology Rental Program, a solution that provides important medical technologies to capital-stressed healthcare providers that need a “financial bridge” to the next capital budget cycle or that want to “test drive” new equipment before making a long term commitment.
The program helps address a major challenge in the healthcare industry, which is that providers can typically afford only 70-75 percent of the medical devices that they need. Through MedVentures' Technology Rental Program, healthcare executives receive a short-term, off-balance sheet way to obtain critical, outcomes-enhancing technologies that meet their clinical and financial requirements.
"With approximately 75% of the per-procedure rental fees applying to the provider’s subsequent purchase of the equipment, this new program from MedVentures is an easy and affordable way for healthcare providers to immediately get the equipment they need," said William Curtis, Chairman and CEO of MedVentures LLC. "In fact, the use of the Technology Rental Program represents only a single-digit premium to the cost of a cash purchase, so the flexibility provided by the program is truly a bargain."
At the end of the 12-month rental term, MedVentures provides four options:
1. Purchase Option – purchase the equipment for a fixed amount that reflects the credit of approximately 75% of the rental fees.
2. Convert Option – continue to use the equipment by converting to MedVentures’ 48-month Technology Access Program, an off-balance program that includes annual maintenance contacts and reduced per procedure fees with no minimum monthly payment or volume commitment.
3. Renew Option – continue to use the equipment by extending the rental agreement by 12 months during which time MedVentures will cover the annual maintenance costs.
4. Return Option – return the equipment to MedVentures.
With increasingly constrained capital resources, many healthcare providers face the challenge of deferring vital medical technologies in order to save costs. This means that providers are putting themselves at risk, reducing their abilities to attract and retain physicians and their patients, deliver the best patient outcomes, succeed in a pay-for-performance environment and maintain a competitive position in their markets.
"The healthcare industry is facing a number of challenges, particularly when it comes to meeting all of their capital needs," Curtis said. "By working with MedVentures, providers now have a way to address these capital constraints while also improving the quality of their patient care."
For more information on MedVentures’ new Technology Rental Program, visit http://medventuresllc.com/medventures-programs/.
About MedVentures LLC:
MedVentures is a national healthcare services company that partners with manufacturers, hospitals, outpatient centers and physician groups to resolve the growing conflict between capital constraints and medical technology needs. The company's 12-month Technology Rental Program provides its client-partners with important medical technologies for which they either do not have the capital budget or that they want to "test drive" before making a long-term commitment. The longer term Technology Access Program is an off-balance sheet, capital free program that includes the equipment, service and upgrades, coding/reimbursement support and outreach marketing, all on a per procedure fee basis…with no minimum periodic payments and no procedure volume guarantees. To learn more about MedVentures’ programs, visit http://www.medventuresllc.com.