Medical Equipment Financing
Medical equipment is an essential part of many peoples' lives, but sometimes insurance only covers part of the cost or nothing at all. Or, insurance will only cover a replacement device in 3 years! Without medical equipment financing, the out-of-pocket cost becomes a barrier to acquiring the equipment patients need for a comfortable, high-quality life.
UCFS can help durable medical equipment (DME) businesses capture a broader share of their market by giving patients fixed-term repayment options as opposed to a single large upfront payment. Through financing, more patients can obtain the POC, CPAP machine or low vision device they need to maintain a happy, healthy life.
If you're searching for a trusted company that can help your medical equipment business grow by offering your clients financing for their medical equipment such as; electric stair lifts, POCs, low vision devices, CPAP machines and cleaners, and other in-home medical equipment - we can help.
How Medical Equipment Financing Works
- DME companies or retailers register with UCFS (no registration fee)
- When a patient wants or needs low monthly payments for equipment, the retailer or customer enters an online credit application
- Approval status is provided in just minutes so the sale can be completed immediately
- UCFS pays the business directly , less a small fee, usually within 1-3 days from the contract signing date and after the sales receipt is provided to UCFS.
- Patient begins repayment of the contract amount to UCFS after 30 days.
Medical Equipment Can Include:
- Portable Oxygen
- Low vision devices
- Sleep aid machines (CPAP & APAP devices)
- CPAP cleaners and sanitizers
- In-home hospital beds
- Infusion pumps (insulin pumps)
Being able to offer low monthly payments for CPAP machines, lift chairs, POCs and other forms of durable medical equipment is ideal for both patients and businesses. It’s a method of payment that allows patients to access the best medical equipment right away – while keeping DME businesses stable in today’s changing market. Financing medical equipment adds a low, monthly, fixed payment option for purchases, making products more affordable for a wider market.
- Credit application decision in minutes
- High percentage of approved patients, even patients with questionable credit quality
- Finance amounts of $1,000 to $10,000
- Low, fixed monthly payments between 6 and 48 months
- Competitive interest rates, most often lower than our competitors, and lower than credit card rates
- No consumer fee for early payoff
- Online merchant portal for account review and submitting credit applications
- Full-service website for patient account reference, to check balance, online payment and auto-pay set-up
- No-interest, same-as-cash options to qualified buyers, if offered by business
Every patient deserves the best medical care possible, including the right medical equipment. UCFS is committed to helping DME businesses and retailers provide their patients the flexibility to live their best life possible. Read our CASE STUDY on the freedom a customer gained from financing an OxyGo. (Similar to the Inogen portable oxygen contractor) Financing made a huge impact in this patient’s life – an incredible difference!
Learn How Medical Equipment Financing Benefits DME Businesses & Their Customers
While offering medical equipment financing gives DME businesses a leg up in a difficult market, there are many other strategies that can push your competitive edge further — and help you serve more clients than ever before. View our resources below to learn about how access to durable medical equipment through financing has changed lives, and how medical equipment financing from UCFS can bolster your business’s marketing strategies.