Issaquah, WA (PRWEB) March 10, 2010
With the continued fluctuations in interest rates, slowing of the economy, and competition for new patients, a number of hospitals, dental and medical clinics are struggling with reduced cash flow and the dilemma of how to purchase new medical equipment to meet the needs and requests of their patients.
"The healthcare industry continues to remain strong with the increased need for new and updated medical equipment," said Freddy Jalilvand, Sr. Account Executive for Providence Capital Funding. "For many health care facilities, profit margins and cash flow are lower and the cost of providing newer medical equipment is higher. At the request of their customers, QuickMedical made the decision to offer a medical lease program designed specifically for hospitals, medical clinics and other health care facilities."
One of the fastest growing and most popular ways to finance medical equipment is through a lease program. Current data suggests that of the majority of medical equipment sold to a medical practice; at least 50% was leased. Why pay cash for a piece of medical equipment when the business can pay little or nothing down and have the revenue generated by the medical equipment pay for itself?
"A number of medical practices could possibly afford to pay cash for new medical equipment, but the question is why?" said Scott Hanna, CEO of QuickMedical. "A growing hospital, start-up medical clinic, a medical practice with little cash flow, or a practice that has experienced exceptional growth may not have the cash or the desire to tie up money in a large down payment or long-term financial obligation. Leasing is a way to leverage money and invest it in other revenue generating ideas that cannot be financed; or the money can be saved to cover expenses during an economic slowdown."
As a national distributor of medical supplies and equipment since 1993, QuickMedical has been experiencing strong sales and customer growth. By adding new product lines and a new leasing program, QuickMedical can provide additional value to their existing services while meeting ongoing customer requests for new products that will increase distribution channels and help to reduce overall customer cost.
"Our objective with our new lease program is to reach our existing QuickMedical customers who wish to purchase new medical equipment, but do not have the cash and/or the desire to make a large up-front down payment", said Mr. Hanna. "Now that we have added a new line of Gendron Bariatric medical equipment, a lease program makes perfect sense."
"We believe that with our new lease program a medical practice or health care facility can now obtain the latest in medical equipment and technology; lease payments are often lower than payments available through conventional financing. Leasing offers tax benefits and has real cash flow advantages by eliminating the large down payments or cash outlays necessary with other forms of financing or purchase," said Warren Strasen, Vice-President of Sales at QuickMedical.
QuickMedical is a Medical Supply Store offering a large selection of medical equipment and supplies. Established in 1993, they offer over fifteen thousand medical products, many with lease options and free shipping. In addition, they are an authorized distributor for Detecto, Health O Meter, Brewer Medical, Gendron, Clinton Industries, Burton Medical Lighting, Tower Exam Tables, and many others. QuickMedical has a large selection of health and fitness products, medical furniture, medical cabinets, medical casework, medical exam tables, medical lighting, x-ray equipment, and physical therapy products.
About Providence Capital:
Providence Capital, LLC is an independent Equipment Leasing company providing creative financing solutions to meet the demanding needs of today's growing companies. We recognize the variety of financing options available in today's marketplace and are confident that our programs, pricing and experience collectively represent a superior financing alternative. We work closely with related banks and various funding partners enabling us to offer you the best financing options to help your business grow. We strive to offer our customer the best possible rates, the most flexible terms and ongoing personalized service.
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