Richmond, KY physician and therapy offices can finance diagnostic devices such as Holter recorders and blood pressure monitors with equipment financing, a shockwave therapy unit on a loan of its own, and repeat supply orders on a line of credit. This article prices each one with invented figures and adds Madison County, KY counts for both kinds of office.
Invented loans for four Holter recorders, analysis software and six ambulatory blood pressure monitors at a physician office and for a shockwave therapy unit, an invented supply order paid down on a line in three steps, and Madison County, KY counts from CBP 2023 and ZBP 2023.
Medical business loans for Holter recorders and blood pressure monitors
Holter recorders and ambulatory blood pressure monitors go home with patients for a day or two and come back to the office for reading, so an office can own a set of each and book them back to back. Several recorders let the office fit more studies into one week than a single recorder could, which is the reason to price a set.
Invented case: a Richmond, KY physician office prices four Holter recorders at $2,650.00 each, analysis software at $4,900.00 and six blood pressure monitors at $1,385.00 each, $23,810.00 in all. Over 48 months at an invented 11.2% annual rate, the monthly payment is $617.70; by the last of the 48 payments the invented office has paid $29,649.60, which includes $5,839.60 of interest.
The recorders and monitors have serial numbers a partner may record as security, so equipment financing fits them; the software has none, which the questions below take up. The medical practices page has other physician office cases.
A shockwave therapy unit for a therapy office
A radial shockwave unit is a cart-mounted device that physical therapy and chiropractic offices use for tendon and soft-tissue treatment. It plugs in, so no property work is involved.
Invented case: a therapy office prices a unit at $29,600.00. A 60-month term at an invented 10.3% annual rate sets the payment at $633.29, and the invented office pays $37,997.40 in total, $8,397.40 above the price.
The quote can name the applicators, any training visit and the warranty period, so a partner can see what the price includes and what would be a separate bill later.
An equipment agreement or a term loan can both fit an item like this; the term loan route matters when the quote also lists training or a service plan that a partner may not take as security. The chiropractic and therapy page prices other treatment equipment.
Exam and therapy supplies on a line of credit
Supplies come back. Electrodes, ultrasound gel, kinesiology tape and disposable gowns are ordered again and again, so they suit a line of credit better than a loan with a fixed end date.
Invented case: an office draws $4,850.00 for a supply order and pays $1,650.00 of it back after 14 days in this invented case, $1,600.00 after 28 and the last $1,600.00 after 42. At an invented 13.55% annual rate figured daily on a 365-day year, the draw costs $50.16 in interest.
Left at the full $4,850.00 for all 42 days, the same invented draw would cost $75.62. A supply order fits a line because the balance shrinks as the office's own deposits come in, and the room it frees is there for the next order.
Madison County, KY counts for physician offices and other health practitioners
County Business Patterns counted 56 offices of physicians in Madison County, KY in 2023, with 683 paid employees; 22 of the 56, or 39.3%, had fewer than five employees.
Offices of other health practitioners, the NAICS group that takes in chiropractors, physical therapists and optometrists, numbered 61 in the county, with 374 paid employees, and 38 of them (62.3%) had fewer than five.
ZBP 2023 counted 45 offices of physicians and 45 offices of other health practitioners with a ZIP 40475 address.
Nonemployer Statistics for 2024 list 172 offices of other health practitioners in the county with no paid employees.
For an office with fewer than five employees, one device payment is a larger share of the month, so it is worth pricing the payment before the order is placed.
By Ledgecrest Lending · Updated
