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Evolving Practices Need Dental Equipment Financing

Evolving Practices Need Dental Equipment Financing
by Justin Tabone

With technology from 3-D printing to laser dentistry rapidly evolving, dental practices need to stay competitive, relevant, and ahead of new developments. These days, having the latest technology is about more than efficiency. It’s about patient outcomes and positioning your practice to ensure it is set up for future success. But as technology becomes increasingly complex, obtaining new equipment often presents a significant financial strain.

Working with the right lender to determine the best acquisition options can make new technology purchases more manageable and within budget. We will explore several factors to keep in mind, whether you are just starting your practice or looking to upgrade to new technology. Choosing the right finance structure can help ease the cost and still deliver the right equipment to serve your patients’ needs.

What Do I Need to Consider When Purchasing New Equipment?

Purchasing new equipment, whether through cash or financing, can be a major expense. How can you determine if it’s worth the investment?

Try seeking out a lender who can provide you with a structure that enables you to undergo an initial period with no or reduced payments. This will give the equipment time to generate income before you begin making full payments.

Though lenders may structure these arrangements differently, there are options available to help your practice adapt to new technology before you are responsible for the bulk of the cost. For example, a dental practice interested in purchasing a 3-D printer may consider several payment structures to meet its business needs.

A deferred payment structure allows for no payment for the first three to six months followed by standard payments for the remaining term, such as $0 payments for the first three months, followed by 57 monthly payments.

Some lenders may offer a “token-payment” program. This structure includes a nominal monthly payment for a short period before standard payments begin, such as $99 payments for the first six months, followed by 54 monthly payments.

Read full article on Dentistry Today.