Running a medical practice requires doctors to think like business people, and this is especially true when it comes to investing in equipment. To render high-quality healthcare, you require top-notch medical equipment, and this can drain some of the precious capital you’ve accumulated. However, if you do not upgrade your equipment, you could lose out on patients, spend unnecessarily on repairs, and face setbacks due to downtime and poor results. A good way of addressing this is to invest without compromise in equipment that is critical to your services. Bajaj Finserv Healthcare Finance, for instance, offers ample funding for medical equipment and you can repay it over a long tenor via cost-effective EMIs.
Here is how you can instantly invest in top-notch medical equipment with Bajaj Finserv Healthcare Finance.
Avail finance of up to Rs.150 lakh for high-end equipment
Premium PET scanners, CT scanners, X-ray machines, MRI scanners, robotic-surgical systems are some of the most expensive medical equipment, carrying hefty price tags. Nonetheless, depending on your practice, you may need some of these. Further, alongside big-budget machines, you also have to bear in mind cumulative costs. For instance, for an operation theatre you may need equipment like anaesthetic machines, ECG monitors, and vital signs monitors, and for an ICU, ventilators, mobile X-ray kits, and so on.
As the costs rise, you can either hunker down on quality and invest in cheaper machines, or avail healthcare finance and address the costs monthly, even as you offer improved services. For the latter, Bajaj Finserv offers funding ranging from Rs.3 lakh — 150 lakh. Use this quick hassle-free capital for all types of modern medical equipment and delight your patients with better healthcare facilities.
Obtain affordable finance with attractive doctor loan rates
Search the market for competitive doctor loan rates, so you can invest freely, without your purse strings feeling too tight a tug. For the best interest rates, maintain a good credit profile. Further, there are no part-prepayment or foreclosure charges. This is a big upside as it allows you to clear off your debt as soon as you come into surplus funds. Repaying your loan before the due date is a top way to reduce your interest payment.
Choose a repayment tenor that works with your long-term goals
Whether you are investing in equipment for a diagnostic centre or a particular ward, like orthopaedics or ENT, before you do so, you will want to see how to best manage the capital you have at hand. Once you obtain a favourable interest rate, to make the best use of the capital, you must strategically pick a tenor.
If you want your EMIs to have very little effect on your regular costs, pick a long tenor. Here, you repay the principal slowly and your instalments are small. However, the downside is that your net interest payment becomes large. If you have your eye on cost-effectiveness and can accommodate large EMIs, pick a short tenor. Here, the principal is repaid faster, and your total interest payment is low.
It can be helpful to make this decision not based on your current revenue, but your projected revenue. For example, with your current CT scanner, you may be able to accommodate 10 cases a day, but with a new one, you may be able to do 20. Newer, top-notch medical equipment is sure to boost your profit margins and you can funnel that liquidity back into loan repayment.
Apply for instant healthcare finance online
Today, lost time equates to lost revenue and customers. With products like Bajaj Finserv Healthcare Finance, you have the option of applying for funding online. You get quick approval, and this can help you close a winning deal without delay. Also, based on the amount you qualify for you can quickly draw out a new business plan. To obtain swift approval you need to submit minimal documentation only. Whether you run a diagnostic centre, a path lab, a dental clinic, nursing home or a speciality or super-speciality hospital you can easily access healthcare finance provided that:
● You have a business vintage of at least 2 years for a loan exceeding Rs.50 lakh
● You can provide bank statements of at least the last 6 months, of a commercial bank account that holds the majority of your banking transactions
If you are an existing Bajaj Finserv customer, you can even avail personalised offers that expedite the access to funding even more and get affordable doctor loan rates. You can get up to Rs.45 lakh by just submitting your PAN card, Aadhaar card, medical degree certificate, and medical registration certificate.
For high-value funding, as a new or existing customer, apply online for Bajaj Finserv Healthcare Finance. With ample funds at your fingertips, you are just a few clicks away from providing improved and premium healthcare services.