The Rental Economy in Healthcare: Meeting the Demand for Home-Based Services

In addition to an aging population and rising prevalence of chronic diseases, there are several other Factors that are creating a growing demand for Home-based health care. For example:

Portability of medical technology

Home-based health care allows individuals to receive care in the comfort and privacy of their own homes. Additionally, Portability of medical technology is another factor that is contributing to the growth of Home-based health care.

Increased Cost of healthcare

The increased costs associated with obtaining and using healthcare services create barriers for individuals in receiving timely and effective treatment. Home-based health care reduces these barriers by providing an environment where individuals can receive care in a familiar location.

Familiarity of Home

Many individuals prefer to receive health care in their own homes. This preference is caused by a variety of Factors. These Factors include the convenience of staying in a comfortable and familiar environment.

Spending less time in hospitals

Hospitals are focusing on reducing the length of stay for patients. Home-based health care is a critical component to provide extended periods of post-acute care to those patients who are discharged early. Patients can be kept out of the hospital through receiving extended periods of post-acute care at Home.

Solving the problem of growing demand

Therefore, given the above Factors, it is expected that Home-based health care will become a standard of health care. Therefore, creative ways to meet the growing demands for this type of health care must be developed.

The medical equipment rental economy

One of the ways to meet the demand for Home-based health care is through the creation of the medical equipment rental economy. The medical equipment rental economy refers to the leasing or rental of medical equipment as opposed to purchasing the same equipment.

Overview of the medical equipment rental economy

The medical equipment rental economy is a relatively new form of economic activity designed to assist the Needs of the growing consumer base in Home-based health care.

The medical equipment rental economy is centered on the leasing/renting of a variety of medical equipment that is used in a Home-based health care environment. A wide variety of different types of products can be leased/rented. Some examples include:

  • Hospital beds

  • Pressure relief mattresses

  • Lift recliners

  • Wheelchairs

  • Mobility scooters

  • Oxygen concentrators

  • Patient lifts

  • Overbed tables

  • Cpap respiratory equipment

Leasing/renting medical equipment creates benefits

Leasing/renting medical equipment provides individuals with:

Cost savings

Large sums of money are spent on medical equipment. Examples include:

  • A hospital bed can Cost anywhere from $1,000 to $5,000.

  • Power mobility devices can Cost anywhere from $1,500 to $8,000.

  • Temporary specialty mattresses may be needed.

Individuals/families can obtain good quality medical equipment at only a fraction of the total price by renting it.

Flexibility to meet changing Needs

We all understand how unpredictable recovery can be. When you first begin recovering you may need:

  • A hospital bed

  • A wheelchair

  • A walker

Once your ability to move increases, you may no longer need some of the equipment that you previously needed. Rental programs allow patients to increase or decrease their usage based on their improving/maintaining ability to move.

Eliminating storage problems after recovery

When recovering from illness/injury, many families face storage issues with large quantities of medical equipment. Leasing/renting eliminates:

  • Storage requirements

  • Disposal issues

  • Concerns about reselling items once they are no longer needed

Simply return the equipment when you don't want to use it any longer!

Assisting patients transition from hospitals to homes

Transitioning from hospital to Home is One of the hardest times in the recovery process of a patient. Leasing/renting

helps bridge this gap by allowing patients immediate access to the resources necessary like:

Hospital beds

Adjustable beds provide better comfort positioning easier accessibility for care providers more assistance with your ability to move around!

Lift recliners

These recliners will give individuals the ability to safely stand from a sitting position with more independence.

Mobility equipment

Wheel chairs walkers and scooters will give patients more confidence while traveling within their house and community!

These tools will help facilitate an easier experience during the recovery process.

Increasing demand for aging-in-place products

More elderly individuals prefer living at Home rather than moving into assisted living facilities or nursing homes. This phenomenon is called "aging-in-place" and has caused a higher demand for rental healthcare products. Examples include:

  • Hospital beds

  • Patient lifts

  • Mobility scooters

  • Lift recliners

  • Bathroom safety products

Renting products available to consumers at reasonable prices allows them not to have to spend money purchasing products they will only be using for a short period of time.

Providing access to advanced technology for specific conditions or periods of recovery

There are certain types of medical equipment that are only needed for specific amounts of time or for particular conditions during the recovery process. Examples would be:

  • Oxygen concentrator systems

  • Sequential compression devices

  • Bariatric beds

  • Specialty mattress

Since this type of equipment is only used temporarily, it may not be practical for someone to invest in this type of product. Rental companies provide the patient with advanced technology at the right time.

Benefits for caregivers

Rental market does not only affect patients but also caregivers. Proper equipment enables caregivers to:

  • Transfer patients safely

  • Reduce physical strain on caregiver

  • Position patients better

  • Improve daily care routine

  • Reduce risk of injury to caregiver

Equipment such as patient lifts and adjustable beds greatly reduce physical stress on caregivers while providing comfort levels for caregivers.

Eco-friendly rentals of medical equipment

For industries, including health care, sustainability must become important practices. One way that health care industry can contribute towards sustainability through rental medical equipment includes:

  • Extend product life cycles

  • Reduces waste

  • Limits manufacture

  • Support refurbished & used equipment

Using shared model supports overall sustainability initiatives while maintaining high level of safety/hygiene standards.

Advances in technology modernize options for rental

Today's medical equipment is evolving toward being more user-friendly & technological. There are many rental options currently available Today with features such as:

  • Electric hospital bed

  • Portable oxygen system

  • Smart power Wheel chair

  • High-tech Pressure relief surfaces

  • Capability of remote monitoring

Future advances in technology will create even more availability of rental options to additional patients.

Selecting a company that rents medical equipment

When selecting a company that rents medical equipment consider:

Quality of the equipment

Consider the following Factors when evaluating the quality of the equipment:

  • Is the equipment brand new?

  • Are Cleanliness procedures utilized by the organization?

  • What brands of medical equipment are offered through the rental program?

  • Will delivery & installation be provided by the company?

Choose a provider who offers professional set-up demonstration technical support & Flexibility in rental agreements

Your recovery timeline may change unpredictably. Flexible terms in your rental agreement will allow you to extend or reduce your rental agreement as needed due to changes in your timeline.

Customer support

Companies should respond promptly so as not to disrupt care services due to broken/defective equipment.

Growing trends over next several years regarding Home-based services

Based on growing trends of telemedicine demographics increasing number of elderly population increasing healthcare costs desire for Home-care by patients advances in portable medical technologies expectation exists that Home-based services will continue to expand in future years.

Role of medical equipment rental companies in meeting rising demand for affordable/patient focused healthcare delivery

As trends develop, medical equipment rental companies will play critical role in delivering affordable /patient focused healthcare delivery



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