MRIs are an efficient diagnostic procedure whose costs can be quite a lot to bear, both for the patient and the hospitals alike. For patients, an insurance will help in covering the costs, but for a hospital, there is no insurance to finance to purchase of an MRI machine.
Magnetic Resonance Imaging, or MRI is a non-invasive and painless medical technique (radiology, to be specific) that uses magnetic fields and radio waves to produce images of the human anatomy and the physiological processes of the body. With this definition, it can be understood that this diagnostic procedure is quite cost intensive. In India, depending on the anatomical part being tested, the number of technicians involved, type of machine used and the location where the test is being done, the cost of an MRI can be between Rs 1500 to Rs 25000 or sometimes even more. This high cost can be attributed to the expense of acquiring the machine.
MRI machines are of different types, with their imaging capacity being measured in the units of magnetic field strength, i.e. Tesla. Open or low field MRI devices have an imaging capacity of around 0.2 to 0.3 Tesla whereas the most powerful machine in the market has a power of 3 Tesla. In most cases, patients can get insurance cover from their health insurer whenever they get an MRI done.
As for hospitals and other diagnostic service providers, they have to bear the costs of purchasing the MRI machine.
In addition to its purchase, the hospital has to pay for maintenance, upkeep and upgrade of the machine, apart from taking care of its operation. This includes paying salaries of the technicians who operate the machine. These expenses can surmount to a lot- a business loan for doctors can prove to be a favorable finance solution to cover these expenses. Business loans for doctors can be availed without any collateral and the amount that can be borrowed is as high as INR 35 lakhs.
To know more about the same, this is the reference you need to check:
Why Does an MRI Cost So Darn Much
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.