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  • Hub You - New Medical Practice - Deciding On Space And Getting Financing For Equipment Leasing

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    l equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipm
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    BASICS OF OPENING A NEW MEDICAL PRACTICE: DECIDING ON SPACE AND GETTING FINANCING FOR EQUIPMENT LEASING

    Health professionals must take many factors into consideration when deciding to open a medical office. Since all a medical practice is a business like other service businesses, your most important consideration is location. You should take from 6 – 12 months to decide on the right location and the renovation process. Access to your office, type of patient population you serve, as well as proximity to a hospital are important considerations

    DECIDING ON OFFICE SIZE AND RENOVATIONS

    In measuring space for a medical office the rule of thumb is approximately 1200 to 1500 square feet for the first physician and 1000-1200 square fee for each additional physician. Certain practices may require additional space for x-ray or imaging equipment.

    Consider renovation in your medical office the same way a businessman considers investment money for small business needs. You want to get the best value for your money and for that you must consider the type of image you want to project. Whether your expected patient base shops at Bloomingdales or Walmart, you don't want to intimidate or disappoint them. If you need capital improvements to decide appropriate electric, plumbing and HVC needs, then you are advised to hire an architect.

    YOU CAN EASILY LEVERAGE YOUR MEDICAL EQUIPMENT LEASING NEEDS TO GET MONEY FOR YOUR CONSTRUCTION NEEDS

    Rather than have to invest in new medical equipment, you should be thinking of equipment leasing. In effect, leasing equipment you need for your business is like taking a loan in which the lender buys and owns the equipment and then "rents" it to you at a flat monthly rate for a specific number of months. This is similar to leasing a car, which many of us are quick familiar with in today's market.

    HOW TO FIND AN EQIPMENT LEASING COMPANY

    When considering a leasing agreement, in most cases the company that is selling the medical equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipme

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    s proximity to a hospital are important considerations

    DECIDING ON OFFICE SIZE AND RENOVATIONS

    In measuring space for a medical office the rule of thumb is approximately 1200 to 1500 square feet for the first physician and 1000-1200 square fee for each additional physician. Certain practices may require additional space for x-ray or imaging equipment.

    Consider renovation in your medical office the same way a businessman considers investment money for small business needs. You want to get the best value for your money and for that you must consider the type of image you want to project. Whether your expected patient base shops at Bloomingdales or Walmart, you don't want to intimidate or disappoint them. If you need capital improvements to decide appropriate electric, plumbing and HVC needs, then you are advised to hire an architect.

    YOU CAN EASILY LEVERAGE YOUR MEDICAL EQUIPMENT LEASING NEEDS TO GET MONEY FOR YOUR CONSTRUCTION NEEDS

    Rather than have to invest in new medical equipment, you should be thinking of equipment leasing. In effect, leasing equipment you need for your business is like taking a loan in which the lender buys and owns the equipment and then "rents" it to you at a flat monthly rate for a specific number of months. This is similar to leasing a car, which many of us are quick familiar with in today's market.

    HOW TO FIND AN EQIPMENT LEASING COMPANY

    When considering a leasing agreement, in most cases the company that is selling the medical equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipm

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    et the best value for your money and for that you must consider the type of image you want to project. Whether your expected patient base shops at Bloomingdales or Walmart, you don't want to intimidate or disappoint them. If you need capital improvements to decide appropriate electric, plumbing and HVC needs, then you are advised to hire an architect.

    YOU CAN EASILY LEVERAGE YOUR MEDICAL EQUIPMENT LEASING NEEDS TO GET MONEY FOR YOUR CONSTRUCTION NEEDS

    Rather than have to invest in new medical equipment, you should be thinking of equipment leasing. In effect, leasing equipment you need for your business is like taking a loan in which the lender buys and owns the equipment and then "rents" it to you at a flat monthly rate for a specific number of months. This is similar to leasing a car, which many of us are quick familiar with in today's market.

    HOW TO FIND AN EQIPMENT LEASING COMPANY

    When considering a leasing agreement, in most cases the company that is selling the medical equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipm

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    medical equipment, you should be thinking of equipment leasing. In effect, leasing equipment you need for your business is like taking a loan in which the lender buys and owns the equipment and then "rents" it to you at a flat monthly rate for a specific number of months. This is similar to leasing a car, which many of us are quick familiar with in today's market.

    HOW TO FIND AN EQIPMENT LEASING COMPANY

    When considering a leasing agreement, in most cases the company that is selling the medical equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipm

    I Couldn't Have Done This By Myself
    The decision to start my own business was a hard one. I went through a lot of doubts, a lot of fears. Required a lot of long hours, and hard work.There were times I wondered what am I doing? What if I fall flat on my face? How long is it going to take to start a profit?You took a temporary back seat to the business start up. You listened patiently as I explained my goals and my dreams and you saw my eyes dance with ideas that you did not let die. You saw the determination and you listened.You listened to all my newbie thoughts and didn't judge or criticize. Y
    l equipment is not the same company that is offering the lease financing. It is usually set up that the company selling the equipment refers you to a leasing company it partners with. While it is expected that the company selling you their equipment will try to offer you a competitive quote for the monthly lease, it is always advisable to get another quote from another leasing company. It is usually easy to find an equipment leasing company online.

    There are significant advantages to leasing equipment versus applying for a small business loan.

    1. It is a simple & quick application process vs. an extensive one which would require financial statement and tax returns.

    2. Leasing does not require a down payment, whereas a bank would ask for a percent of the fee needed paid by you

    3. Leasing payments are fixed at reasonable monthly rates and the leasing company does not require you to send in quarterly or annual financial statement as you would have to do with a loan

    4. With a leasing company you do not pay any additional fees to the cost of buying the equipment, so the dollar figure you are financing is less. You do not pay points, appraisal or lawyer's fees.

    5. Taking out a loan can have a negative impact on your balance sheet and debt ratios, whereas a lease is clean to itemize in your budget.

    6. Lease payments are tax deductible and are normally treated as a tax expense. As such your tax benefits may occur more quickly than you would get with depreciation.

    BENEFITS TO ASK A LEASING COMPANY

    If you are funding equipment for under $100,000 then the application process should be simple and without the need for extensive personal financial statements. In addition, you can sometimes include furniture, small office equipment and computer systems in a medical leasing option.

    Most important is to recognize whether you are receiving good service from your leasing company. You should feel that they value you as a customer, which means they answer your calls promptly, get back to you quickly if you have any questions, and try to expedite your application to serve your needs. In summary, medical leasing equipment is one effective way to save money you can invest in either renovation or marketing your new practice. It should be considered when you are putting together or reviewing your business plan

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