Lease vs. Buy

AED Lease vs. Buy

Once you’ve decided that an AED program is right for your location, you might wonder about whether it is better to lease or buy your AED. Both approached have their own merits, and you might consider the specifics of your location before making a decision. For many businesses, leasing is part of their financial model. They lease office furniture, copiers, vehicles, etc. Others don’t engage in that at all, preferring to own all of their own property. In general, here are some specificsabout each approach.

Buying AED’s

Purchasing an AED means you own it and any liabilities that go along with it. You would for example be responsible for:

• FDA upkeep of the unit whenever recalls occur or software patches are required
• Maintaining the device and replacing batteries, electrodes, etc.
• Shopping for and arranging training and insuring the appropriateness of that training
• Periodically inspecting the device
• Higher up front cost that might be a capital expenditure in your organization
• Somewhat less predictable costs that occur when training is required, when consumable supplies expire, etc.
• The upside to owning your AED is that the long term cost after several years tends to be lower. If you have a diligent program coordinator who can manage the program, keep up on training, and effectively oversee the program, owning the AED might be a good choice.

Leasing AED’s

Leasing an AED comes with a certain amount of program management included. We take a certain amount of the responsibility off the location by providing the following services:

• Recall protection and upgrades - when a device requires new firmware or gets recalled or phased off the market, LSIS will update or replace the unit at no additional cost
• All consumables that expire without use are included in the cost of device. There are no unexpected costs for replacing batteries or electrodes.
• Training can be included in your lease. Typically a CPR/AED/First Aid course for up to 10 participants every year is bundled into the typical lease agreement.
• Devices get inspected every six months by a LSIS technician
• Medical Direction by a Emergency Management boarded physician is included in your lease. If the device gets used, our physician reads the ECG and provides consultation.
• No up-front cost! The lease starts with your regular monthly payment. Commitments are typically 2 years, and buy-out options are available for those wishing to purchase the devices after that time.
• Leasing is ideal for the company that wants an AED program without a lot of coordination hassles. In a lease arrangement, a total solution is provided that lets the customer have one source for training, support, and maintenance without worrying about missing a critical software update or the unit being discontinued or the manufacturer going out of business.

Should we lease or buy?

This is very different decision from group to group. If you have a strong coordinator who enjoys the project, has good attention to detail, and long term cost is a consideration, you might consider purchasing. Absent that, you might be better off with a lease. Sometimes an AED program is set up by an enthusiastic individual at a company. When that employee leaves the company or changes jobs, the AED program does not get reassigned and goes dormant. If the AED is needed, it could be without charged batteries, with expired electrodes, and in the hands of an untrained user. That is the type of scenario that nobody wants.

Consider your location and use the link below to contact us with any questions you may have.