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The Pros and Cons of Buying, Leasing, or Renting MRI Systems

by | Aug 9, 2021 | MRI

Reading Time: 3 minutes

Opening your own imaging facility is a significant investment. Prospective owners need to go through extensive planning and budgeting before anything can be bought or built. One of the things you should consider is whether you should buy, lease, or rent your MRI systems. While everyone believes that purchasing brand new equipment is always a win, things may be differently advantageous for various imaging centers. 

 

Buying Your Own MRI Machines

Pros

Prominent imaging facilities are more capable of buying MRI equipment because of their resources. If they have long-term equipment replacement plans or can afford to take on loans, it’s best to buy their own machine instead of considering other acquisition options. Facilities that make a significant amount of money from these machines are most likely to buy the equipment.

Purchasing MRI systems benefits the facility for an extended period because the equipment may also be used long-term. The longer equipment lives, the longer it will bring profit for the facility. 

 

Cons

Buying MRI systems isn’t always a good choice. Like anything else, it has its disadvantages. Owning MRI equipment may paradoxically lead to lower revenue for an imaging facility. The company should also be financially prepared as the machine ages because MRI parts will need to be repaired and maintained to ensure peak functionality. Another problem with owning an MRI machine is that you may not have the financial ability to upgrade as years go by, giving your competitors a chance to out-market you with their more advanced equipment. 

 

Renting MRI Machines

Pros

Renting an MRI machine is a good option for facilities that don’t quite have the necessary funds to purchase their own equipment. It is also advantageous so that the facility will not be limited with the services they offer. On the contrary to buying, you don’t have to save for the repair fees. 

 

Cons

Having the equipment in the facility in the short term can be both an advantage and disadvantage. While renting can be cheaper than buying, rental fees can run up significantly every month. Aside from that, you cannot offer a service without the machine in your center. If the patient comes into your door and asks for the service, you can’t give it right away if you weren’t able to rent the machine ahead of time. 

 

Leasing MRI machines

Pros

Leasing MRI machines is a relatively cheaper option. One of the benefits of leasing is the flexibility in terms of duration since leasing terms last for 24 to 72 months. It also allows a facility to assess which machine is the most profitable. On the other hand, they can return machines that do not bring much profit. Usually, leasing entities also offer a buy-out option when the term is over so you can purchase your own MRI scanner at a lower price. 

 

Cons

Since lessors give out terms for the machines, you should be careful in following them to the letter. For example, returning the machine earlier than negotiated may lead to high fees and penalties. 

 

Conclusion

The decision to acquire the MRI machines depends on the financial ability of the imaging facilities, asset management strategy, and the long-term goal. It is essential to understand the advantages and disadvantages of each option so you can decide which one will suit your imaging facility’s needs. 

DirectMed Parts is a trusted source of medical imaging parts and services. We also offer repairs for your machines and can help you sell your scanner. DirectMed Parts is knowledgeable in the industry, so you can ask us about your purchase and repair decisions. Contact us today!

 

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