Leasing FAQ’s

Leasing FAQ’s

Leasing is very common in the NHS, Private Hospitals and in care homes.  It started with helping to secure large purchases such as scanning machines, but now it is much more commonly used to obtain other medical equipment, such as specialist beds and early mobilisation chairs.

Here we will run through a list of FAQ’s, particularly with regard to the leasing we offer:

Why lease?

When you have high clinical need, but a severe lack of capital, leasing is a great way of solving this issue. 

Our leasing is fully NHS Compliant. The NHS has a number of finance and compliance rules and we are fully compliant.  This completely simplifies the process for you, and should cut down on time, paperwork and long discussions!

Leasing is a great way of spreading the cost of a capital purchase over 3-5 years.  Added to that, you have the benefit of a fixed cost of an asset over 3-5 years, so even if the cost of the asset goes up, your payments do not.

Far quicker from need-to-receive.  Finding the capital to purchase a necessary piece of equipment can take a significant period of time and also requires a large number of sign offs.  Not so much with leasing. Once the leasing has been agreed and signed, the chair can be delivered within 6 weeks….

We find that departments, when leasing can afford more than one of the piece of equipment they desperately need.  There is no need to ask charitable funds to invest £5-6k in a piece of equipment, instead a lease allows you to have the equipment over 3-5 years with an option of purchasing it at the end for just 1% of the total cost. Added to that, we offer great deals on leasing a number of pieces of equipment at the same time – so say 5 or 6 CH5 chairs - you will get a better leasing cost.

Is there just one lease solution for all?

Absolutely not.  Every department has their own needs from leasing, so our lease agreement is tailored to that.  Some examples below:

Maintenance included.  For a Trust we worked with recently, this was a really important part of the quote.  The Trust found that once they invested in purchasing equipment, there was no budget for maintaining the equipment – meaning within 2-3 years the equipment was languishing in a corner, or not being used to its full potential whilst different departments negotiated over who was in charge of maintenance and repairs.

Part funded – part leased.  Some departments already have acquired monies for some of the cost from their Trust charity.  If this is the case, you can part fund the cost of the equipment, meaning the monthly lease costs go down significantly, or you lease for a shorter period of time.  Or by freeing up monies completely and leasing instead, they can now afford more than one #earlymobilisation chair.

We don’t lease in our Trust

We regularly hear this from HCP’s, but you would be surprised!  All NHS Trusts lease equipment, just some departments do not (at the moment).  Leasing often provides a number of significant advantages to procurement, the department themselves and engineering, so it is investigating.

We have recently put department heads in touch with other departments who lease so they can be reassured that leasing is a secure and beneficial option.

What happens when the lease ends?

Well you have 3 options:

  1. You can give the equipment back to us
  2. You can exchange the current equipment for new equipment and continue the lease
  3. You can purchase the equipment for just 1% of the purchase price.

How much does leasing cost?

As you can imagine, there is a caveat with this – it is dependent on the equipment you choose, how long you lease for, how many pieces of equipment you lease and if you take up our maintenance and repairs package, but we recently quoted a Trust on 5 #earlymobilisation chairs on a 5 year lease, with maintenance from just £5.10 a day; so just over £35 a week per chair.

Below is a quick chart of how much time it can take to purchase a single care chair vs leasing it.

 Capital asset process

Leasing cycle for the NHS

If you would like a leasing quote, please get in touch here