Offer finance for orthopaedic equipment (back braces, supports)

Why Offer Finance for Orthopaedic Equipment?

Orthopaedic equipment, such as back braces, knee supports, and other medical aids, plays a critical role in improving the quality of life for individuals suffering from musculoskeletal conditions. These devices provide much-needed support, aid in recovery, and can help prevent further injury. However, the cost of these essential pieces of equipment can be prohibitive for many people, particularly when they are not covered by insurance or the NHS. This is where offering finance options becomes an invaluable service.

Providing finance for orthopaedic equipment allows customers to access the medical support they need without having to bear the full financial burden upfront. This article will explore the importance of offering finance for orthopaedic equipment, the benefits it provides to both businesses and customers, and how partnering with a retail finance broker like Kandoo can make the process simple and effective.

The Importance of Orthopaedic Equipment

Orthopaedic equipment serves as a lifeline for individuals with conditions such as arthritis, scoliosis, herniated discs, and other musculoskeletal disorders. These devices not only help to alleviate pain but also assist in mobility, recovery, and prevention of further injury. Some common types of orthopaedic equipment include:

• Back Braces: Often used to treat conditions like scoliosis, herniated discs, or lower back pain, back braces provide support to the spine and help to maintain proper posture.

• Knee Supports: These braces are commonly used by individuals recovering from knee surgeries or injuries. They help to stabilise the knee joint, reduce pain, and prevent further damage.

• Foot Orthotics: Custom-made insoles or supports that can help alleviate pain caused by conditions like plantar fasciitis, flat feet, or other foot and ankle issues.

• Wrist Braces: Used for conditions like carpal tunnel syndrome or wrist sprains, wrist braces help immobilise and support the wrist during recovery.

While these devices are crucial for many people, their costs can quickly add up, especially if multiple pieces of equipment are required. This is where offering finance options becomes a game-changer.

The Benefits of Offering Finance for Orthopaedic Equipment

1. Increased Access to Medical Equipment

The primary benefit of offering finance for orthopaedic equipment is that it makes essential medical devices more accessible to a wider range of customers. Many individuals may not be able to afford a high-quality back brace or knee support outright, especially if they are already dealing with medical bills or other financial constraints. By offering finance, you give customers the option to spread the cost over time, making it more manageable for them to access the equipment they need.

2. Improved Customer Satisfaction and Loyalty

When customers can easily access the medical equipment they need through affordable payment plans, they are more likely to feel satisfied with their experience. Providing finance options shows that your business is sensitive to the financial challenges that many people face, and that you are committed to helping them improve their health and well-being. This can lead to increased customer loyalty, as they will be more likely to return to your business for future purchases or recommend you to others.

3. Increased Sales and Revenue

Offering finance for orthopaedic equipment can also help boost your sales and revenue. When customers have the option to pay for their purchases in instalments, they may be more likely to buy higher-quality or more expensive products, as the financial burden is spread over time. This can lead to larger sales and increased revenue for your business. Additionally, offering finance options can help reduce the number of abandoned carts or lost sales due to customers being unable to afford the upfront cost.

4. Competitive Advantage

In a competitive market, businesses that offer finance options for orthopaedic equipment can stand out from their competitors. Many customers actively seek out retailers that provide financing, as it makes the purchasing process more affordable and convenient. By offering this service, you position your business as a customer-focused and flexible provider, giving you an edge over competitors who may not offer the same options.

How Kandoo Can Help Your Business Offer Finance

Kandoo is a UK-based retail finance broker that specialises in helping businesses offer finance options to their customers. By partnering with Kandoo, you can provide flexible and affordable payment plans for your customers, making it easier for them to purchase orthopaedic equipment such as back braces, knee supports, and other medical devices.

1. Simple Application Process

One of the key benefits of working with Kandoo is the simplicity of the application process. Kandoo offers a user-friendly platform that allows customers to apply for finance quickly and easily. The process is straightforward, with minimal paperwork, and customers can receive a decision in just a few minutes. This makes the purchasing process smoother and more convenient for your customers, encouraging them to move forward with their purchase.

2. Flexible Payment Plans

Kandoo provides a range of flexible payment plans, allowing customers to choose the option that best suits their financial situation. Whether they prefer to spread the cost over 6, 12, or 24 months, Kandoo offers a variety of terms to accommodate different needs. This flexibility ensures that more customers can afford the orthopaedic equipment they require, even if they are on a tight budget.

3. Increased Approval Rates

Kandoo works with a panel of lenders, which means they can offer a higher approval rate for customers seeking finance. This is particularly beneficial for customers who may have less-than-perfect credit, as Kandoo can match them with a lender that is more likely to approve their application. As a result, more of your customers will be able to access finance, increasing the likelihood of completing sales.

4. Transparent and Ethical Finance

Kandoo is committed to offering transparent and ethical finance solutions. They provide clear information about interest rates, fees, and repayment terms, ensuring that customers fully understand the terms of their finance agreement. This transparency helps to build trust with your customers, as they can be confident that they are not being misled or taken advantage of.

How Offering Finance Benefits Your Customers

For many customers, the cost of orthopaedic equipment can be a significant financial burden. Offering finance through a provider like Kandoo can alleviate some of this pressure, allowing customers to focus on their health and recovery without worrying about the upfront cost of medical devices.

1. Affordable Monthly Payments

One of the biggest advantages of finance is that it allows customers to break down the cost of their purchase into affordable monthly payments. This makes it easier for individuals to budget for their orthopaedic equipment, as they can spread the cost over a period of time that suits their financial situation. For customers who may be facing other medical expenses or financial challenges, this can be a crucial factor in their decision to purchase.

2. Immediate Access to Equipment

By offering finance, customers can access the orthopaedic equipment they need right away, without having to wait until they have saved enough money to cover the full cost. This is particularly important for individuals who require immediate support, such as those recovering from surgery or dealing with chronic pain. The ability to get the equipment they need without delay can make a significant difference in their recovery and overall quality of life.

3. No Need to Compromise on Quality

When faced with high upfront costs, some customers may be tempted to opt for cheaper, lower-quality orthopaedic equipment. However, lower-quality products may not provide the same level of support or durability, potentially leading to further injury or discomfort. By offering finance, you allow customers to choose the best possible equipment for their needs without having to compromise on quality due to financial constraints.

Partnering with Kandoo to Offer Finance: The Next Step

If you’re ready to offer finance for orthopaedic equipment and make these essential products more accessible to your customers, partnering with Kandoo is an excellent option. With their simple application process, flexible payment plans, and high approval rates, Kandoo makes it easy for your business to provide affordable finance solutions.

By offering finance, you can help more customers access the orthopaedic equipment they need, increase customer satisfaction and loyalty, and ultimately boost your sales and revenue. Partnering with Kandoo ensures that you can provide ethical, transparent, and flexible finance options that benefit both your business and your customers.

Conclusion

Offering finance for orthopaedic equipment is a win-win situation for both businesses and customers. It increases access to essential medical devices, improves customer satisfaction, and can boost sales and revenue. By partnering with a trusted retail finance broker like Kandoo, you can provide flexible and affordable payment options, making it easier for your customers to purchase the orthopaedic equipment they need. Whether it’s back braces, knee supports, or other medical aids, offering finance helps ensure that everyone can access the support they need to improve their health and well-being.