Digital X-ray financing

Digital radiography replaced film and CR cassettes in most practices because it's faster and the images are better, and a DR retrofit panel lets a practice keep its X-ray room and upgrade only the detector. iFinancial Group finances DR panels, full rooms, portable units and C-arms, new or refurbished, on a one-page application. No tax returns and no audited financial statements to apply, no minimum and up to $1,000,000.

Who you're dealing with

iFinancial Group has funded equipment since 1997, roughly $600 million of it, in all 50 states. We're a direct lender, not a broker, so the file is underwritten in house and not shopped around. Our customers have ranged from independent manufacturers to global technology companies. We've barely advertised in almost three decades. The business came from repeat customers, referrals, and vendors sending us their customers.

What you're financing

DR retrofit panels with the acquisition workstation typically run about $20,000 to $50,000. A complete DR room, tube, table, wall stand and detectors, runs roughly $100,000 to $250,000. Portable DR units run $80,000 to $180,000, and C-arms for procedures run $60,000 to $200,000.

Those are market ranges. The detector type, the room configuration and the manufacturer move them.

What goes on the same approval

The panel or the room, the workstation, the PACS or image management system, and the shielding or room work the installation requires go on one approval. Installation, physicist testing and staff training are soft costs and can ride on the same deal, on many deals up to 30% of the total.

Who buys them and how the payment gets covered

Orthopedic and sports medicine practices, urgent care centers, chiropractors, podiatrists, primary care, pain management and veterinary practices. The case is usually throughput: DR produces an image in seconds instead of minutes, which moves more patients through a room every day.

Where the X-ray is part of a new location, a deferred first payment, typically up to 90 days, can carry the opening.

New, refurbished or used

Refurbished DR rooms and C-arms trade actively through refurbishers and from practices and hospitals that are upgrading, often well below new. All are financeable here.

On the financing side it's the invoice or bill of sale, the serial numbers and proof of what was paid.

What slows an X-ray deal down

Room preparation and state registration. A new room may need shielding and a physicist's survey before it's used, and the vendor schedules the install around it. An approval holds up to 60 days, and a deposit at order can be part of the financing on qualifying transactions.

How it works with iFinancial Group

It's the same one-page application whether the equipment is small or the deal runs to $1,000,000: no tax returns and no audited financial statements to apply, no minimum and up to $1,000,000. Decisions typically come back within 24 hours, and an approval holds up to 60 days. New and used equipment, terms up to 84 months, and soft costs up to 30% so freight, setup and training can go in the same deal. Payment structures beyond level payments are there when the equipment earns unevenly. We've been doing this since 1997, in all 50 states.

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