Do You Need Healthcare Finance for your Business?


With many medical professionals opting to set up their own clinic, the need for healthcare finance is more now than ever before. Today, there is a gamut of financing options for doctors available with the evolution of non-banking finance companies (NBFCs). Do you need healthcare finance? Let’s find out.

  • Finance required to buy new equipment

State-of-the-art equipment would not only help you and your team be more productive but also improve diagnosis rate, subsequently enhancing patient care and satisfaction, two vital things for improving bottom-line revenues.

Running a successful business requires high-end machinery and the medical profession is no different. A tailor-made business loan for medical professionals gives you the needed capital to buy the latest medical equipment to bring efficiency and effectiveness in treatment.

  • Maintain a positive cash flow

A positive cash flow ensures you are able to meet day-to-day as well as short-term obligations such as paying for utilities, stocking the required inventory of medical supplies and making timely payments to vendors and staff members, among others. However, there can be occasions when changes in the regulatory regime or delay in revenue leads to an imbalance in cash flow.

Access to healthcare finance in such times can bail you out in such periods. For instance, Business Loan for Doctors from Bajaj Finserv disbursed within 24 hours provides you with an instant flush of liquidity to help you effectively manage your cash flow.

A collateral-free loan that you can avail with minimum documentation, gives you funds up to Rs.30 lakhs that can be repaid within 12-96 months. You can also avail the funds in a Flexi Loan format which allows you to withdraw funds as and when required from the approved loan limit without making multiple applications, and repay when you have the available cash. Such flexibility makes it a perfect solution to manage your cash flow needs.

Pre-approved offers on this loan make it further easy to access finance. You can get money in your bank account with one-step verification by sharing a few basic details and knowing your pre-approved offer.

  • Install new software

Technology has revolutionised every aspect of business, in all domains. It assumes even more significance in the medical profession, where a patient’s well-being is concerned. Healthcare finance helps you implement new software such as patient and queue management solutions into practice to streamline appointments and make patient management simpler and efficient.

Not only can such software save time for patients, but it also makes it easy for you to record and store crucial medical data. With this data, a patient’s medical history can be viewed within seconds, subsequently improving patient care.

Other than this, your practice could need funds for a variety of reasons like meeting payroll costs, hiring specialised staff, funding expansion and growth plans, buying or leasing new office space, renovating clinic interiors, etc.

Thus, healthcare finance serves multiple needs allowing you to be more productive and efficient with running your practice and ensures that you do need to face any hurdles while doing your practice or running your own hospital/clinic.

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