Renting vs. Buying Ventilators: Increasing Costs and What’s Best for You

According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the fourth leading cause of death across the world. Non-invasive ventilators are used to deliver oxygen to the patients when required and those with COPD can also use portable ventilators in their homes to provide continuous oxygen supply when the patient is in discomfort due to breathing problems. 

This rise in the use of ventilators to treat COPD has led to increased prices and interest rates, making it more expensive for hospitals to obtain the ventilators they need in order to provide treatment to their patients. Below, we will cover the rising costs of ventilators and why renting a ventilator is a better choice than purchasing one.

Renting Ventilators

With the increasing demand for ventilators to treat respiratory illnesses such as COPD, interest rates are rising, and equipment shortages are occurring. To help bridge the gap, equipment suppliers such as Trace Medical are renting respiratory equipment to hospitals so that hospitals can, in turn, take care of the influx of COVID-19 patients and others with respiratory needs. Some benefits to renting equipment include:

  • Greater access to essential medical equipment

  • Cost-effective options for hospitals looking for the latest technology at a fraction of the cost

  • Save time in making significant financial decisions

  • Varied rental terms to suit your hospital’s needs

  • Ventilators are high-quality and the latest technology

Purchasing Ventilators

With the current shortage of available respiratory equipment, purchasing ventilators for your hospital may be more difficult, as well as more expensive. Ventilator purchases can range anywhere from $15,000 to $25,000 whereas renting can vary from $500 to $1,000 per month. Investing in medical equipment can be pricey, especially with how often and quickly technology progresses, which makes it difficult to keep up with the latest technology your hospital needs to take care of patients. Here are some additional reasons why purchasing may not be right for your hospital:

  • Purchasing ventilators can be expensive

  • Pricey to keep up with the latest technology in medical equipment

  • If your facility’s needs change, you are left with expensive equipment that no longer fits your direction

  • Less access to necessary medical equipment

  • Longer turnaround times

Rent Ventilators from Trace Medical

Trace Medical is the only ventilator rental company that offers a full line of ventilators that are appropriate in every care setting. Trace Medical provides noninvasive, invasive, and multi-function ventilators. Our product line has expanded to include POCs (portable oxygen concentrators), percussion vest therapy, and NPWT (Negative Pressure Wound Therapy), driving solutions into different areas such as managed care organizations, hospice, government, and others.

We make the process of renting ventilators absolutely seamless. By utilizing industry-leading inventory optimization software, we position our substantial inventory pool and ensure that ventilators are readily available for customers. The software allows our entire team the ability to monitor the number of ventilators that are patient-ready, on-rent, and in service, by make and model, on a real-time basis. 

Reach out to our experts today to discuss ventilator rental options or visit our website for more information.

Elliot Campbell