Blogs
Setting up a private practice – Equipment financing checklist
Architecting a sustainable practice
Setting up a private practice is an exercise in complex orchestration. Between securing premises and navigating medical regulations, the financial logistics of equipping the rooms can feel overwhelming. To move from “inquiry to funding” efficiently, Sunstone provides a streamlined, 4-step process designed to eliminate friction.
Phase 1: Asset identification and procurement
- Before approaching a funder, you must define the scope of your clinical needs. Sunstone covers a wide range of assets, ensuring that no part of the practice is left under-equipped.
- Diagnostic equipment: High-end imaging and diagnostic tools.
- Surgical/theatre equipment: Specialised machinery for private procedures.
- Clinical infrastructure: Dental chairs and general practice furniture.
- The quote: You must provide details of the asset and a formal quote from your chosen supplier.
Phase 2: The documentation audit
- Sunstone’s investment team reviews the business’s financial health, trading history, and the viability of the asset. To ensure a successful application, have the following ready:
- Personal Identity: Name, ID number, and contact info of the directors or owners.
- Business Identity: Company registration name, VAT number, and trading address.
- Financial Integrity: Proven trading history and stable cash flow records are essential. Note that Sunstone typically requires a solid trading history rather than funding brand-new startups without backing.
Phase 3: Structural alignment
- Once the credit review is complete, the agreement is structured. This is where the practitioner can customise the terms to fit their specific needs:
- Contract duration: Select a term between 12 and 60 months based on the asset’s expected lifespan.
- Payment Structure: For new practices or those in growth phases, request the “Step-up” model to manage initial cash flows.
Phase 4: Acquisition and growth
Once approved, often within 48 hours, Sunstone purchases the asset directly from the supplier and leases it to the practice. This removes the administrative burden of procurement from the doctor, allowing them to focus on the primary mission: patient care.
