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How Computer Cart Financing is Changing the Way Hospitals Buy

Blog Post
6 minutes

The ever-evolving world of medical science has placed a keen emphasis on the integration of technology into healthcare. Of the numerous innovations, computer carts have emerged as front-runners in modernizing the medical landscape. But what are these technological wonders? Computer carts, often tailored to fit specific workflows with printers, scanners, and other essential equipment, serve as mobile command centers in hospitals. These medical computer carts aid in every step of the care process from instant EHR access and real-time data entry to patient registration.

However, this advancement comes with an inevitable question: how do hospitals afford this equipment? This is where financing options step in. Programs like Altus Assist: Economic Boost Program extend hospitals a way to keep their equipment up to date without having to bear any upfront costs. This blog dives into how these types of financing programs are changing the way hospitals buy their medical equipment.

Historical Perspective

Traditionally, hospital equipment acquisition followed a seemingly uncomplicated process: request funding, save all available funds, and then invest in a big purchase. Simple, right? Not quite. This model often meant that hospitals had to wait years, pooling resources, before they could invest in much-needed equipment. This mixed with 71% of decision-makers choosing to only purchase new equipment when the current equipment is outdated, creates a cycle of needing large amounts of capital at one time. The need for a large amount of capital in order to purchase new equipment has further encouraged hospitals to delay their purchase for as long as possible.

71 percent of decision makers choose to purchase new equipment when the current equipment is outdated

Understanding Computer Cart Financing

The essence of computer cart financing is rooted in adaptability and foresight. Instead of hefty one-time payments, hospitals can now procure these essential carts without any upfront costs. They can instead experience periodic, manageable payments. This paradigm shift does more than just alleviate immediate financial pressure; it's a strategic move. By breaking down costs into manageable chunks, hospitals ensure they have better cash flow and can allocate funds to other urgent needs. It also allows IT procurement to have the confidence they are providing the best equipment to their staff and solving any workflow issues in the process.

Advantages of Computer Cart Financing for Hospitals

Financing medical computer carts has many benefits beyond empowering IT to purchase much-needed equipment. Some of these additional benefits include:

  • Cost Efficiency: Predictability is the cornerstone of effective budgeting. Financing, by its very nature, brings about this predictability. Instead of grappling with large, unexpected expenses, hospitals can strategize around regular, fixed payments.
  • Reduced Time Spent on Repairs: Older and outdated computer workstations require more time spent on repairing them in order to ensure they’re in working condition. Financing takes away the need to consistently update equipment and instead puts that time back into IT team's days while also improving uptime for clinicians and nurses.
  • Flexibility: The needs of a hospital are never static. Be it a sudden influx of patients, a pandemic, or an advancement in medical procedures, adaptability is of paramount importance. Financing provides much-needed flexibility, allowing hospitals to swiftly pivot their resources as needs evolve. Instead of having to halt several different departments to buy equipment, all are able to run as normal.
  • Conservation of Capital: With financing, hospitals are not just conserving current capital but also future-proofing themselves. By ensuring funds aren't locked up, hospitals can channel investments into research, infrastructure, or any unexpected situations that might arise. Capital is further conserved with the Altus Assist: Economic Boost Program where hospitals are able to make 0 payments for 12 months, and fully allocate the capital to another area.

How to Choose the Right Financing Partner

The role of a financing partner goes beyond mere transactional exchanges. Here’s a deeper exploration into selecting the right ally:

  • Reputation: Delve into the history of potential partners. How have they treated past clients? What’s their market standing? These questions can guide you toward reliable partners.
  • Customer Service: In the world of finance, issues, and questions are par for the course. A responsive, knowledgeable partner can be the difference between a smooth experience and a months-long process to get any questions answered. Especially when purchasing new equipment, the learning period for staff can be made significantly easier with the help of detailed customer service.
  • Commitment to Workflows: One of the most important aspects when considering if a medical computer cart provider is also the right partner to finance with, is their commitment to workflows. Their ability to tailor their solutions to specific needs, and provide aspects that improve any current workflows is imperative. New equipment and workstation partners should improve efficiencies and uptime in addition to their financing options.

Future of Hospital Equipment Purchasing

The horizon of hospital equipment procurement is expansive and exciting. As new technologies, such as IoT, become even more intertwined with healthcare, financing will become even more common. Hospitals will begin to invest in their equipment more, and financing will be the way they do it. From IoT-enabled workstations on wheels to mobile tablet carts, and remote AI-enabled patient monitoring carts, hospitals will rely on 12 months same-as-cash and leasing options in order to bring these new investments to their staff.

Conclusion

In summary, computer cart financing is much more than a financial model; it's a visionary approach to healthcare. As the intricate dance between medical services and technology becomes more synchronized, financial solutions like computer cart financing will play a pivotal role in shaping the future of healthcare, ensuring that medical establishments, irrespective of size or location, can provide world-class care.

The transformative journey of computer cart financing is a narrative that needs widespread sharing. Whether you're a stakeholder in healthcare or someone passionate about medical advancements, this tale is both insightful and instructive. Contact Altus to learn more about our Altus Assist: Economic Boost Program, how it was designed to address challenges healthcare is facing today, and how it will help your hospital purchase much-needed equipment now.