Maximise your Return on Investment for OCT
Posted on 11th November 2020 at 10:19
The introduction and growth of optical coherence tomography (OCT) into mainstream independent practice has been one of the most significant events for the profession in the last decade. Due to the COVID 19 pandemic, it is now more important than ever to preserve your cash flow and differentiate your practice.
Not only does an OCT allow for more socially distant diagnosis, but funding your new OCT can offer a number of significant commercial benefits:
• Impressive additional profit stream
• Improved patient offering
• Attract new patients
• Increase your tax allowances
• Practice differentiator
Financing the acquisition over 3-7 years will allow you to make a return from day one.
A finance lease will also ensure VAT is spread for those who can reclaim VAT under de minimis.
Additionally, the annual investment allowance (AIA) allows you to maximize your benefits and receive tax breaks whilst investing in any capital equipment..
In terms of income generation, the charge per patient
and throughput are driving factors.
Funding your new OCT, will help ensure it pays its way and you can choose different ways to increase your revenues:
• Charge a separate OCT fee
• Increase current test fee to include OCT
• Monthly payment plan (Eye plan)
OCT purchases often include Marketing support and Educational events & workshops to help you get the most from your device.
Here at Performance Finance, we also work closely with all major optical suppliers making the process easy, streamlined, and enjoyable.
Performance Finance is the UK’s leading optical finance provider, established in 2005, we have arranged over £500m of finance for our clients.
Dont forget, Super-deduction tax relief is available for Ltd companies.
Key point summary:
Eligible for expenditure incurred between 1st April 2021 and 31st March 2023
Relevant for companies that pay corporation tax but not sole traders, partnerships, or LLPs (for these, the £1m AIA is still available until 31st December 2021)
Assets must be new, that is not second hand or used
130% Super-deduction capital allowance is available on all qualifying plant and machinery investments that fall within the AIA
Great news for optical practices, trading as Ltd Companies, wishing to invest in
equipment, shop-fit and technology.
Our clients also enjoy personal service from our team of friendly Area Managers who are highly experienced and have a detailed commercial understanding of optical practices. We understand tax, VAT, and optical equipment.
We are extremely proud of our Trust Pilot rating.
We would be delighted to support your next business venture, simply give us a call on 01536 529 696 or email oct@perfin.co.uk
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