A doctor loan is a type of no-collateral financing that allows doctors to fund a variety of business-related expenses. You can use the funds to expand your practice and provide advanced medical care to your patients because they are simple to apply for and disburse. Here are some examples of how a business instant loan for doctors can be used to improve healthcare:
1. Incorporate digital solutions into your practise
Doctors can use a doctor loan to digitize their practices by incorporating electronic health records (EHRs), medical billing software, cloud computing, telemedicine, hospital management software, and healthcare wearables.
To help medical practitioners ride the digital wave and provide best-in-class healthcare treatment, loans of up to Rs. 2 crore are available for doctors, with minimal documentation and attractive interest rates.
2. Enhance facilities to meet the needs of emergency patients
It is critical that your hospital has all of the necessary emergency services facilities. Having a separate casualty ward with the necessary equipment and specialised staff can help with the treatment of injuries, asthma attacks, and strokes. Read more locksmith services fort valley.
3. Invest in cutting-edge technology
High-quality equipment is essential, and it can benefit all medical practises because it aids in the diagnosis and treatment of illnesses, as well as the performance of surgeries. To remain competitive, equipment such as electrosurgical units, EKG machines, diagnostic ultrasounds, stress systems, patient beds, surgical tables, and defibrillators needs to be purchased.
Reputable banks and non-banking finance companies (NBFCs) can help you meet the cost of such expensive equipment by providing you with a customised doctor loan interest rate.
4. Enhance the infrastructure
It is critical that the interiors of your hospital or practise be spacious and comfortable while also providing the best security for you and your patients. This includes having access control systems, CCTVs, adequate lighting, waiting areas, and recovery rooms in place.
5. Employ more personnel and specialists
The right people make sure that the various departments you’ve set up run smoothly. Internal communication and delegation will also improve. Having a dedicated staff member to handle various concerns is also a good idea for your practice’s effectiveness and growth. It also boosts trust and service quality.
6. Create an in-house laboratory or pathology department
To provide a more comprehensive experience for your patients, you can invest in an in-house lab or pathology department. If you offer multiple services under one roof, patients are more likely to choose you over other clinics. This also contributes to your income.
7. Provide pharmacy services to patients
A pharmacy within your clinic or hospital completes the eco-system and provides patients with added convenience. A pharmacy must be established by hiring a pharmacist and stocking the necessary medications. Investing in inventory management software allows you to keep better track of your inventory.
8. Dental clinic
Banks and NBFCs extend loan facilities for establishing a new dental clinic setup.
Exemptions from GST for health care
The noble services rendered by the doctors to society merit tax exemptions from the government. The following section explains how the Goods and Services Tax exempts Health Care Services.
Notification No. 12/2017-Central Tax (Rate) dated 28-06-2017 and Notification No. 9/2017-Integrated Tax (Rate) dated 28-06-2017 provide exemptions.
Exemption from Health Care Services provided by: (1) a Clinical Establishment, an Authorized Medical Practitioner, or paramedics.
Medical Practitioner Registered with any of the Councils of the recognized systems of Medicines established or recognized by law in India, including a medical professional with the necessary qualifications to practice in any of the recognised systems of Medicines in India is eligible for the tax exemption.
Read Also: How To Build A Targeted Country Email List For Marketing?
