The next time you go to the doctor, think about what it took for him or her to open the office. You may think the biggest expense of a doctor’s career is their education. But have you stopped to think about how expensive it is to equip and maintain an office?
There’s a reason that medical equipment financing is a growing sector of the financial industry. Doctors, clinics, dentists, and health care professionals of all sorts need equipment and that equipment requires capital. Most new clinics and practices can’t afford to buy new equipment outright. They settle for purchasing gently used equipment or financing the necessary equipment over time. This ensures that they have the diagnostic and treatment tools they will need to effectively treat their patients.
You should also consider the non-equipment costs that your doctor faces. They pay rent (or a mortgage) for their office space. They pay utilities, business fees, taxes, and have to maintain their license to practice. There are expenses associated with hiring and keeping personnel as well as insurance costs to protect against malpractice and other problems. Then there’s the normal things like accounting, computers, and office furniture to pay for.
When you consider how much it costs to equip a medical office , you start to get a better idea of why the costs of office visits and procedures can be so high.