Providers often struggle with the decision of whether to rent or buy a mobile MRI unit. Both options have their advantages, but understanding the key benefits and challenges of each can help you make an informed choice.
Renting a Mobile MRI
Flexibility
Renting a mobile MRI unit provides hospitals, imaging centers, and private clinics with a short-term, flexible solution to meet fluctuating patient demand. These facilities can experience anything from equipment downtime, renovations, or a backlog of patients. Rental agreements with a mobile MRI provider allow them to maintain imaging services without having to commit to a long-term investment.
Cost
Many facilities find in-house MRI units to be incredibly expensive. Renting a mobile MRI unit, with fees ranging between $25,000.00 to $70,000.00, is a cost-effective option for facilities that need on-site imaging but cannot justify the overwhelming financial demand for ownership. While monthly rental fees may seem expensive, renting eliminates the need for a large upfront payment.
Maintenance
One of the most attractive factors in renting a mobile MRI unit is that it typically features an all-inclusive maintenance package. Many rental agreements include repairs as well as 24/7 technical support. Facilities don’t have to spend extra money to schedule and pay for repairs or upgrades. This additional cost could result in more downtime than anticipated.
Buying a Mobile MRI
Higher Costs
Purchasing a mobile MRI unit requires a significant upfront investment. Unlike rentals, where the cost is spread out over time, purchasing a mobile unit may impact a facility’s financial flexibility.
A purchased mobile MRI may also become obsolete before it has fully depreciated, which makes it difficult to compete with facilities that have access to upgraded rentals or leased units.
Customization/Build
One advantage of purchasing a mobile MRI unit is the ability to customize it to fit specific operational needs. Facilities have the option to select a particular model and build off of it for their purpose. However, customization also increases the cost, and once it is installed, it can be quite difficult to modify or upgrade it further.
Additionally, a customized solution limits the flexibility that a rental offers. If patient demand drops or a facility’s needs change, it can be difficult to relocate the unit. Renting allows facilities to move between models or upgrade to new technology without shouldering the financial burden.
Semi-Permanency
Facilities may want to integrate mobile MRI units into a semi-permanent setup to provide them with direct access to imaging services through walkways. While this setup provides convenience, it does, however, reduce mobility. Once a unit has been connected to a hospital or imaging center in a semi-permanent state, it can be logistically difficult to relocate.
Factors to Consider
Choosing between renting or purchasing a mobile MRI unit requires careful consideration of several key factors. It’s crucial to evaluate how each option aligns with your facility’s budget and long-term objectives:
Service Agreements
Leased and rented MRI units often include built-in service contracts that handle maintenance and upgrades. As this is included in the overall rental cost, facilities are alleviated of the possible financial upset a purchased MRI unit could pose. This is especially true as equipment ages and needs upgrades. However, if a facility’s needs change and they opt to return the unit early, an early termination fee may apply.
Financial Situation
Facilities should carefully consider their long-term budget when deciding whether to purchase or lease a mobile MRI. Purchasing a mobile MRI requires significant upfront costs, which can put a strain on limited budgets. In contrast, leasing provides more manageable monthly payments and offers flexibility in determining how long the mobile unit is needed, ultimately leading to potential savings.
Capital
Purchasing mobile MRI units eliminates the need for ongoing rental payments, but they require a long-term financial commitment with additional maintenance budgeting. For facilities experiencing fluctuating patient volumes, renting or leasing often proves to be a more flexible and cost-effective option.
Ready to elevate your imaging capabilities with a solution that’s as agile as your demands? Platinum Mobile Imaging offers a forward-thinking approach to meeting your diagnostic needs, whether you decide to rent or buy a mobile MRI.
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