Why Laser Therapy Systems Are Expensive & How You Can Afford One
Thinking about adding laser therapy services to your practice but feeling a little bit of sticker shock? Adding any medical device and services to your practice is a big investment, and the initial cost can be daunting when you’re unsure if the investment will pay off.
If you’re wary about adding laser therapy to your practice because of the cost, there’s good news: you have options to make a system more affordable.
Quality vs Cost of Class IV Laser Therapy
Medical devices are expensive—there’s no getting around it. When you make any big purchase, there’s always a battle of quality and cost that ultimately ends in a compromise. You might be wondering if a more affordable device will truly be effective, or if pushing the budget just a little further will actually improve the quality of the device and the results you see in your patients.
One thing’s for sure: when you purchase a medical device, you need to know that it’ll be effective. A device that doesn’t live up to its claims or needs constant repair won’t get used, making any money spent a loss. Worse, offering an ineffective service can drive patients away.
Stretching the budget can pay off big time in the long run with a powerful and highly customizable device that you can use to treat the widest range of patients from the start. But starting with a more affordable device that pays for itself quickly and starts generating revenue can help support a practice to purchase higher end devices in the future as demand for services grows.
Any medical device you add to your practice needs to be regulated by the FDA and have the proper clearance. In the event something were to go wrong with your laser, having an FDA-approved means you will be protected. However, some inexpensive laser devices enter the U.S. without FDA clearance, and you won’t be protected if problems arise. Additionally, these devices aren’t warrantied, customer service likely won’t be provided, and the performance of the device isn’t guaranteed.
For guaranteed performance and protection, there is no compromise. Patient safety and your safety are of the utmost importance. Before you buy, make sure the device has authentic FDA clearance for its intended purpose.
How You Can Afford a Laser Therapy System
You add new services to your practice to improve the quality of care you provide, ultimately growing your patient base and increasing your practice’s revenue. But the upfront cost of a laser therapy system can be intimidating. But you have options to offset the cost and make paying for a device less stressful.
Finance a Laser System
Financing a laser system allows you to pay for it over time, meaning smaller, regular payments instead of handing over a lump sum. Aspen Laser offers financing options through NCMIC Group INC and Stearns Bank, but we can also work with your bank or preferred loan provider to assist in the cost of a laser therapy system.
Lease a Laser System
If you’re not quite ready to commit to owning a laser therapy system, Aspen Laser also offers options to lease one of our systems to your practice. Pay monthly to lease so you can experience the results a laser therapy system will deliver for your patients and practice.
Tax Break for Purchasing a Laser System
When you purchase or finance a laser system from Aspen Lasers, you can file for a tax break for the cost of the system with the IRS for the tax year in which the device was purchased. By completing Form 4562, you can potentially deduct the cost of your laser therapy system, up to the stated IRS limitations, from your gross income from the tax year. When all is said and done, you can save up to 30% of the cost of the laser.
Learn more about your laser financing options here.
Charging for Laser Therapy Services
You’re adding services to grow your practice and not just cover the cost of adding the service in the first place. So how do you charge for laser therapy to see a return on your investment?
Billing Insurance for Laser Therapy Treatments
There are ways to bill your patients’ insurance providers for some laser therapy services; however, the options aren’t as extensive as other treatments. Additionally, some of your patients’ insurance plans might not cover the treatment. But you can bill insurance for laser therapy if you’d like to offer it, and it can save your patients the cost if their plan offers the coverage.
Cash-Based Laser Therapy Treatments
Since billing options are limited, you can generate more revenue from laser therapy services with a cash-based program, separate from your other services. Cash-based programs don’t require additional billing tasks, and your payment is immediate instead of waiting for reimbursement from insurance companies.
Laser Therapy Treatment Bundles
Laser therapy is a dose-dependent treatment that requires multiple visits to achieve desired results. Often times, our providers will bundle laser therapy treatments to help patients save on treatment and commit them to a plan. For example, for an acute injury, you might offer a bundle of six treatments at the cost of five.
Laser therapy is a fast-growing treatment option for pain and inflammation as patients seek alternatives to traditional medications. Adding a laser therapy system to your practice is an investment in the health of your patients and your practice. If you’d like to learn more about Aspen Laser’s class IV laser therapy systems, click below.