The Importance of Healthcare Finance for Healthcare Professionals

As a healthcare professional, medical equipment is critical to your profession and you need to ensure its proper functioning for accurate diagnosis and patient care at all times. Since it’s at the core of your business, it is an aspect you simply can’t compromise on.

That said, the cost of medical equipment can run into lakhs of rupees. So, as a healthcare professional, you must have access to such funds when you need it so that you can use it to run your practice smoothly. Even though personal loans are easy financing solutions, choosing a specialised and customised option can help meet your needs in a better manner. Healthcare finance is one such tailored solution. Here are the many ways in which it can help you.

To fund the purchase of expensive medical equipment 

As a healthcare professional, you know better of how expensive quality equipment is. But after spending a fortune on your education, you will want to reap the benefits by starting your own practice, be it a clinic or polyclinic. For this, you will have to buy the right equipment for diagnosis and treatment, which is quite costly considering the fact that an X-ray machine can cost you around Rs.15,000. Instead of paying for such a major expense upfront, you can avail Healthcare Finance from reputable lenders to access over Rs.30 lakh without pledging any security.

To set up a diagnostic centre

Diagnosis is the first step in delivering effective treatment. Correct medical examination and tests are indispensable to identify medical conditions and give the right treatment to your patients. So, whether you are adding a new MRI or CT scan machine to your polyclinic or establishing a standalone diagnostic centre, you will need quality equipment to improve patient-care, customer satisfaction and in turn add to your profitability. Again, using your savings for such expensive needs isn’t easy, which is where healthcare finance comes into the picture. You can fund your diagnostics centre by meeting simple eligibility criteria for healthcare finance put forth by Bajaj Finserv.

To upgrade the software you use in your clinic

Medical software helps you manage your operations effectively and efficiently. It rules out human negligence or errors and processes information cleverly so as to deliver accurate results. You may be using software to manage various operations such as accounting, billing, patient management, and others, and each of these programmes can cost tens of thousands of rupees, if not more, depending on the scale of your practice and specialty. 

So, whether you are planning to invest in a new software or update existing programs, you’ll have to shell out quite a hefty amount. This is another area where healthcare finance is the ideal solution. With Bajaj Finserv Healthcare Finance, you can enjoy quick disbursal within 24 hours of approval, without pledging collateral!

To set up your own clinic

You may either be working as a specialist or consulting at a multi-specialty hospital. Having had enough experience, you are likely to want to open your own clinic to reap better returns. To fund this dream, you can apply for Bajaj Finserv Healthcare Finance to enjoy a high-value loan at affordable interest rates. Also, you can choose to repay your loan over a flexible tenor extending up to 96 months. This makes cash flow management in the early days of your business stress-free.

To scale up your business

Finally, if you want to expand your operations by adding a new wing, floor or unit to your healthcare centre or a second branch, there are several sources of business finance you may avail. You can also go for Bajaj Finserv’s professional loan to do so conveniently. Since scaling up a business requires funds at different points in time, you can avail the Flexi Loan facility to withdraw funds from your sanction as and when you need to. What’s more, you just have to pay interest on the amount that you utilize and this reduces your total cost of borrowing credit. You can also repay the principal when the tenor ends. 

So, with this flexibility you can plan repayment as per your convenience and save up to 45% too. Apart from this, once you start making good profits, you can also make part-prepayments on your loan without paying any extra charges. This will further make the loan more affordable.

Thus, availing healthcare financing will prove advantageous for you in more than just one way, allowing you to address a plethora of goals easily. To accelerate access to funds and level up your practice, Bajaj Finserv also allows you to check your pre-approved offer to apply.

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