In the face of today’s challenging economic environment, finding innovative ways to maintain and expand services is essential for healthcare providers, and equipment dealers have the opportunity to meet those needs. See how one private practice, with the help of their healthcare equipment dealer, successfully navigated this landscape and is now capturing revenue that was previously referred out externally.

The Challenge

For years, the private practice struggled without in-house imaging capabilities. Patients requiring advanced imaging had to be referred to external facilities, leading to longer wait times and more complex care pathways. This not only frustrated patients, but also disrupted their continuity of care. Additionally, the practice missed out on significant revenue opportunities, as they could not bill for these essential imaging services.

"By leveraging financing, we were able to upgrade our imaging technology without the hefty upfront costs. The solution gives us an affordable way to not only acquire, but also a path to upgrade so we can keep up with technology developments. It also helps us match revenue and expenses better. It’s really a business within our business with its own P&L. We also acquired a loan for facility upgrades that offered minimal payments for the first several months and ramped up as revenues arrived. This has allowed us to offer comprehensive imaging services in-house, improving patient care and capturing additional revenue streams," said the CFO of the private practice.

"Financing provided the private practice with the financial flexibility needed to invest in state-of-the-art imaging equipment. Without the solution, we don’t earn this business. It’s that simple,” said the imaging equipment dealer.

The Solution and Impact

The strategic move to utilize financing has transformed the practice. Patients now benefit from quicker diagnosis and streamlined care, all under one roof. Patient satisfaction levels are at 94%, up from 72% before the shift. And financially, the practice has seen a significant increase in revenue, up 26%, as they can now bill for their new imaging services.

"The difference has been night and day. We can now provide faster, more comprehensive care, which has significantly improved patient outcomes and satisfaction. Financially, the ability to capture revenue from imaging services has strengthened our practice's sustainability and growth potential," said the CFO of the private practice.

Sell Healthcare Equipment in Any Environment With LEAF

This story demonstrates how you can use customized healthcare financing to help private practices overcome financial barriers, enhance patient care, and capture new revenue streams. And by working with creative financing partners like LEAF, it’s easier to make equipment acquisitions and upgrades affordable for your customers – so they can get what they need, and you can get the sale.