How to Rent Medical Equipment: A Step-By-Step Guide

how to rent medical equipment leasing healthcare machines

Not every patient to stay at a hospital year-long. Not every health provider wants to buy medical equipment for their clinic. 

In any case, there's one solution for both. And that is renting medical equipment for the short or long term. 

In this article, we will cover the process of how to rent medical equipment, regardless of your needs. 

Keep reading so that you can start looking today to lease medical equipment.

What Is Leased Medical Equipment?

Leased medical equipment is mean for clinical or at-home use in the long-term. This can include supplies and equipment that have been prescribed by a physician to help support everyday life. 

To be considered for LME, the equipment itself must adhere to certain criteria, such as:

1. Durable
2. Used within the home
3. Not useful to a healthy person
4. Employed for medical purposes
5. Is expected to function perfectly for at least 3 years

Some of the equipment that could be covered by insurance:

1. Oxygen tanks
2. Orthopedic footwear
3. Prostheses 
4. Self-care aid (dressing, commode, bath)
5. Mobility support (scooters, walkers, wheelchairs)
6. Industrial-grade beds

But these lists go on and on, so it's best to consult the official government site for your locale first.

What Are the Benefits of Medical Equipment for Rent?

To rent medical equipment comes with many benefits, in direct comparison to other methods of financing, such as protection from obsolescence and cash preservation.

A small-scale clinic, a large-scale medical trust, and at-home patient call make use of rental medical equipment due to the lower initial cost of ownership, and the benefits of having disposable cash to spend on other things.

For a clinical setting, the most common rented medical equipment is patient monitoring gear, ultrasound, x-ray, and other laboratory devices.

So let's take a look at specific advantages of medical equipment:

1. Encourages replacement of outdated technology and devices

2. Equipment can be financed over a long period of time, in relation to the equipment longevity

3. Equipment can be financed via a revenue budget or a capital budget

4. The value risk sits with the rental company, therefore they outsource the gear risk via the lease

5. The devices can be upgraded, and lease updated to match the new replacement

6. When the lease expires, the device is returned to the rental company or extended for further time

Those examples are the most prominent, but depending on your use case - you may or may not find other benefits to your liking.

Now let's move on to actually leasing the equipment.

Determine What Medical Equipment You Will Need

Being able to present the specific of each medical device, down to the model, make and the manufacturer is important when looking for a rental. 

For instance, if you need medical equipment for travel, some hotels and cruises have them on board. But if you're looking for something specific, a rental company is always the way to go.

The majority of rental companies provide all of the necessary medical equipment. If you're interested in checking out a more detailed collection of rental medical equipment, speak to your local dealer.

Discover the Rental Options in Your Area

Once again, renting medical equipment from a rental company is the most practical way to approach the necessity of a device. As they possess a very large collection of various devices, befitting of all conditions and situations. 

Not to mention that they can arrange delivery at your location, and help you set it all up. There are several rental companies in your area, so it's always best to check their online catalogs (If applicable), and give them a call.

It's very important that you know the model, make and manufacturer so that they can help you determine if they hold the equipment, and if they are able to deliver it to you in a timely fashion. 

But even if they don't have that specific item, they can always provide an alternative that may or may not provide the same functionality, or exceed the capabilities of the model you wanted.

If you are on Medicare (and even if you're not) - the website has a great search engine for finding leasable medical equipment in your area. 

Accessing the Database

To access the database, follow these steps:

1. Go to the supplier database on the Medicare website.
2. Type your postal or zip code.
3. Select the supplies or equipment and click search.
4. Review the companies or suppliers and find the best option.

If you're on Medicare, it will only cover the rental if your doctor and supplier are enrolled in the program. And it's recommended that you get a prescription first so that you can confirm with an insurance provider if they cover it.

In some cases, medical equipment can't be rented. So you would either have to buy it or use insurance to cover it.

In any case, you should discuss with your physician - if the benefits outweigh the cost. And try getting a good look at the suppliers via online research. Check Yelp, TrustPilot, and any other review site to see how well they run their business.

Rent Medical Equipment Without Issue

Now that you know how to rent medical equipment, you are well on your way to finally doing so without issue. 

As you can see it's not hard, and only requires a little bit of time and effort. Just keep in mind that you need to verify the equipment can be leased for your purposes, that you have a prescription from a physician, and that you can afford it. 

Medical equipment should be affordable and available, and that's how it is. Renting is the way to go for top of the line and typically expensive medical equipment. 

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