DALLAS - Computer systems and software developer IBM debuted a new financing package for medical equipment leasing yesterday at the Healthcare Information and Management Systems Society (HIMSS) conference.
The financial product, Progress Payment Offering for Medical Equipment Leasing, is a new program that facilitates advance, or progress, payments to medical equipment manufacturers while equipment is being built and installed, the Armonk, NY-based vendor said.
The company developed the option to service the financing needs of medical equipment customers from product ordering to final installation. The Progress Payment and Fair Market Value Lease financial products permit equipment customers to convert up-front capital investments into monthly payments without out-of-pocket expense prior to final installation, the company said.
The company's global financing division will create interest-only loans for customers for the amount that it advances to manufacturers. When the installation of the equipment is complete, the progress payment offering automatically converts to a fair market value lease, according to IBM.
By AuntMinnie.com staff writersFebruary 16, 2005
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