Smart finance, such as leasing, is needed to fund equipment to overcome challenges in the healthcare sector, according to a report by Siemens Financial Services (SFS).

The SFS study examined the cost of replacing diagnostics imaging equipment that was 10 years old or more in 13 countries, and found that smart finance could play a key role.

In India, such costs were estimated to be €2.1bn (£1.8bn), and €74m in Finland. According to SFS, healthcare chief financial officers (CFOs) surveyed stated that smart finance such as leasing was important to allow organisations to ‘manage change’.

Chris Wilkinson, head of sales for healthcare and public sector for Siemens Financial Services in the UK said:

“Acquiring up-to-date diagnostic technology is now an urgent concern for healthcare organisations working with obsolete models.

“These upgrades are essential as part of strategic healthcare management and, under current financial pressures, smart financing techniques are recognised as key to enabling these acquisitions.”