The Cost of Staying Current in Healthcare

Whether you run a dental office, chiropractic clinic, physical therapy center, or small urgent care practice, staying up to date with medical equipment isn’t just a nice-to-have, it’s a necessity. Outdated tech or failing equipment doesn’t just slow you down. It can impact patient outcomes, hurt your reputation, and cost you revenue.

But the problem most healthcare providers face is this: medical equipment is expensive.

From digital X-ray machines and imaging software to treatment chairs and sterilization systems, even a modest upgrade can run into the tens of thousands. For new or growing practices, that’s a major hurdle, especially if you're trying to avoid tying up personal credit or offering collateral.

Why Equipment Financing Makes Sense for Healthcare Practices

Traditional medical practice loans can take weeks or months to process. They often require in-depth financials, near-perfect credit, and detailed use-of-funds documentation. Most practices simply don’t have that kind of time or paperwork ready to go.

Equipment financing or short-term working capital, on the other hand, gives you:

• Fast approvals — typically in 24 to 48 hours
  
  
• Flexible repayment structures
  
  
• Funding based on your monthly revenue or business performance
  
  
• No need for physical collateral or long-term debt
  
  

You get the tools you need to treat more patients and grow without draining your cash flow or jumping through unnecessary hoops.

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Approvd Understands Healthcare Business Funding

Unlike banks, Approvd is a marketplace, which means we work with multiple funders and programs. That gives us flexibility to find the right product for your practice, not just a generic loan offer.

Some examples of business needs across the healthcare space:

• Chiropractors needing a new adjustment table or decompression system
  
  
• Dentists expanding into a second location and furnishing new operatories
  
  
• Therapists outfitting private offices with updated EMR systems
  
  
• Medi-spas financing laser machines and skincare equipment
  
  
• Home healthcare providers purchasing portable diagnostic tools
  
  

Even newer practices, as little as 6 months in business, may qualify as long as revenue and bank activity are consistent.

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Real-World Use Cases

Here are some scenarios we see regularly, and how fast capital could help.

1. Chiropractor Adding Digital X-Ray Imaging

A solo chiropractor is seeing steady growth and wants to invest in in-house digital imaging to reduce referral wait times and improve diagnoses. The upfront cost is over $30,000 - which is out of reach with cash on hand. Approvd could match them with a revenue-based funding option for $35,000, with daily or weekly payments tied to their deposit activity.

2. Dental Practice Expanding Operatories

A family dental office wants to add two new chairs and hire another hygienist. Equipment alone will run about $40,000. Instead of applying for a traditional SBA loan (which can take months), they explore fast, short-term working capital through Approvd and use it to build out quickly.

3. Physical Therapist Upgrading Software

A PT clinic in a competitive market realizes their scheduling and billing software is slowing them down. They need $15,000 to upgrade their EMR and streamline operations. With no physical collateral to offer, Approvd could help them pre-qualify based on 4 months of strong bank statements.

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What Makes Funding Fast Through Approvd?

If speed matters, here’s what gives Approvd the edge:

• Simple Application: Just a few bank statements — no tax returns required
  
  
• Soft Pull Pre-Qualification: Know what you qualify for without hurting your credit
  
  
• Multiple Programs: Options tailored to healthcare practices, not general businesses
  
  
• Real People: Our team helps you understand your offer and structure
  
  
• No Collateral Needed: Most programs are unsecured
  
  

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What You Can Finance

You’re not limited to just machinery. Approvd’s programs can help with:

• X-ray, MRI, or ultrasound machines
  
  
• Dental chairs, imaging tools, or lab equipment
  
  
• Therapy beds, pulse oximeters, or rehabilitation tools
  
  
• Software for billing, EMR, or scheduling
  
  
• Renovations and cosmetic upgrades
  
  
• Marketing campaigns to bring in more patients
  
  

If it helps you grow, stay compliant, or serve more people…. there’s likely a funding solution for it.

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Is Your Practice Eligible?

Most funders in the Approvd network look for:

• 6+ months in business
  
  
• $10,000/month or more in gross deposits
  
  
• FICO Score of 650+

Even if your credit score isn’t perfect or your last quarter was bumpy, you may still qualify.

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Final Thoughts

Healthcare is always evolving. But that doesn’t mean your practice should be stuck waiting for funding. Whether you need equipment today or you’re planning for growth in the next quarter, Approvd can help you move fast and move smart with funding options built around your business.

See tailored funding solutions for medical practices today — and get back to doing what matters most: helping people.

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