MRI equipment is essential to any major healthcare facility because it can create detailed images of the organs and tissues with the use of a strong magnetic field. It has advanced the field of diagnostic medicine to incredible heights.
Before buying new MRI equipment, there are many considerations to make, which is why it is important to understand the costs and whether these will fit your facility’s budget. The expenses are classified into two: capital and operating expenses.
Capital Expenses vs. Operating Expenses
Capital expenses are invested by the company to start operating. Some examples of capital investments are the purchasing of equipment, the funding of construction, and so on.
Operating expenses are the costs involved in the continuation of the operation of the business. These expenses occur on a regular basis. Some examples include maintenance fees, utilities, and so on.
By understanding this simple business concept, you can gauge if that new MRI machine you’re thinking of buying is a worthy investment for your medical facility.
Expenses That Come With MRI Acquisition
Here are some of the expenses you should know about when acquiring new MRI equipment:
1. Cost for MRI Maintenance and Supplies
For MRI maintenance and supplies, the budget will usually come from the facility’s operating budget. Make sure to increase the operating budget if the facility expects a new MRI system. You can lessen the operating budget during the warranty period (if you’ve bought MRI equipment with a warranty) and increase it after the warranty expires.
2. Cost for MRI Equipment Lease
When purchasing MRI equipment, your facility can choose between capital and operating leases. The benefit of having a capital lease is that after the lease agreement is over, your facility can keep the equipment. Expenses will still come out of the facility’s capital budget.
With an operating lease, on the other hand, you can replace and upgrade your MRI equipment after its lease is over. They can also stop the operation of the MRI equipment if they don’t want to own it once the lease expires. The expenses for the operating lease will come from the operating budget of the facility.
3. Cost for Construction and Installation
The budget for the construction and installation of your MRI equipment will come from the facility’s capital budget, despite the kind of lease your facility has chosen. The operational, electrical, and other technical needs of the equipment can still affect your facility’s renovation budget, even if you’re replacing your MRI with an existing MRI suite.
4. Cost for Purchasing MRI Equipment
The budget for buying MRI equipment usually comes from the facility’s capital budget. MRI equipment is a huge investment that can be beneficial for the whole facility as it can allow your healthcare providers to diagnose with greater accuracy.
When buying new MRI equipment, your facility needs to do a lot of strategic planning due to all the costs that come with them. MRIs can cost a lot, from the lease to the maintenance. So it’s important to think thoroughly about what kind of lease is be more beneficial for the facility—if you decide to lease your MRI machine.
Here at DirectMed Parts, we ensure to provide the best medical imaging parts and servicing. If you need someone to perform electronic MRI coil repair for your MRI equipment, you can contact us through our website. Call us today!