Siting an MRI in an orthopedic clinic is a different project than placing one in a hospital radiology suite. The room dimensions, the structural loading requirements, the shielding design, and the magnet choice all have to fit within a building that was not originally designed around a 20,000-pound piece of superconducting equipment. Getting that right is the first conversation; financing it comes next.
Orthopedic practices that have moved imaging in-house consistently report benefits beyond the revenue diversification. Faster diagnostic turnaround, same-day imaging and consult scheduling, and better control over the patient experience all flow from having the magnet on site. The capital commitment to get there is real, and the financing structure should reflect the practice's cash flow and the revenue that the scanner will generate once it is operational.
Choosing the Right MRI Configuration for an Orthopedic Practice
Most orthopedic practices evaluating in-office MRI land on one of three configurations: a traditional closed-bore 1.5T system, a wide-bore system for improved patient access, or a dedicated extremity MRI unit. The right choice depends on the practice's patient mix, the space available, and the clinical range the practice needs to cover.
A standard 1.5T closed-bore system handles the full range of orthopedic studies: shoulders, knees, hips, spines, and wrists. It requires a proper shielded room, a chiller, and the associated siting work, but it also provides the clinical flexibility to address every referral the practice generates. This configuration makes sense for practices with the physical space and the referral volume to justify the full installation.
An extremity-only unit is physically compact, requires no liquid helium in many current models, and can often be sited in a standard exam room with minimal shielding requirements. The tradeoff is that it is limited to distal extremities: hands, wrists, feet, ankles, and knees in most configurations. For a high-volume sports and musculoskeletal practice, the throughput per square foot can be very favorable. For a practice that also sees spine, hip, and shoulder cases requiring a full-size bore, an extremity-only unit may leave revenue on the table.
The open MRI configuration is worth considering for practices with a significant population of claustrophobic or larger patients where a conventional bore creates scan refusal rates that affect throughput. Field strength for open systems has improved, though the image quality on demanding sequences is generally below that of a 1.5T closed-bore at comparable cost.
Financing the In-Office MRI Project
An orthopedic practice MRI project typically falls in a range we finance routinely: a new or refurbished 1.5T system with siting and shielding often runs from $400,000 to well over $1 million depending on the scanner selected and the condition of the existing space. An extremity unit starts significantly lower and can fall within the application-only range for many practices.
For application-only transactions, the process is streamlined: a completed application and basic business information are all that is needed for an initial credit decision. Larger full-size scanner projects above that threshold require three months of bank statements and a brief practice profile. We do not typically need tax returns for established practices with solid operating history, though they are welcome if available.
Physician-owned practices are sometimes organized as pass-through entities where the business income flows to personal returns. That structure can obscure the practice's actual cash position if the underwriter is only looking at the entity returns. We present the compensation picture in context, which helps underwriters see the strength of the credit file.
An equipment lease is worth considering for practices that want to preserve the option to upgrade in five to seven years without owning a depreciating asset. A fair-market-value lease gives that optionality while keeping payments lower than an ownership-track loan. The tradeoff is that the practice does not build equity in the scanner over the lease term.
New Versus Pre-Owned for Orthopedic Practices
Pre-owned equipment at the 1.5T level has a very active secondary market, and orthopedic practices are among the most common buyers. A well-maintained refurbished scanner at two to five years of age typically provides the software capabilities an orthopedic practice needs at a fraction of the new-equipment price. The key is sourcing the unit from a seller with a credible service history and verifying that the coil inventory is complete and functional for the sequences the practice intends to run.
We finance both OEM-certified refurbished units and third-party-refurbished systems. The financing terms reflect the different risk profiles: OEM-certified units carry stronger warranties and better secondary market values, which supports better financing terms. Third-party-refurbished units can still be financed competitively, particularly for practices with strong credit profiles that offset the equipment risk.
For orthopedic practices evaluating the economics carefully, it is worth noting that a well-selected used 1.5T system combined with a first-year service contract often produces a total monthly cost of ownership significantly below the monthly cost of a new system at the same field strength. The service contract expense is real but predictable, and the image quality difference between a five-year-old well-maintained 1.5T and a new 1.5T is not clinically meaningful for the routine orthopedic protocols that most practices run. We present the new versus used cost comparison as part of our financing consultation so practices can make the decision with full financial context rather than responding only to manufacturer pricing presentations.
Frequently Asked Questions
Our practice is in a leased office building. Can we finance an MRI installation in a space we do not own?
Yes, though the lease term matters. We typically want to see a remaining lease term that covers at least the financing term, along with confirmation that the landlord permits the planned modifications. A landlord consent letter is usually required.
We are looking at an extremity MRI. Is the financing process different than for a full-size system?
The process is the same; the amounts are typically lower. Many extremity units fall within the application-only threshold, which speeds the process considerably.
Can we include the room construction costs in the financed package, not just the equipment?
Yes. Shielding, structural modifications, HVAC, electrical, and general construction work are all financeable as soft costs alongside the equipment.
We want to buy a used scanner from another orthopedic practice that is upgrading. Can you handle that private-party transaction?
Yes. Private-party purchase financing is a structured path for exactly that scenario. We need the equipment details, a bill of sale, and standard underwriting documents.
How soon could we be funded after applying?
Application-only transactions can close in as few as a few business days. Full-documentation packages typically close within one to two weeks of a complete submission.
Start the In-Office MRI Conversation
The right configuration, the right space, and the right financing structure are all connected decisions. Share your practice details and project scope and we will build a financing structure that fits. Sports medicine clinics and ambulatory surgery centers with orthopedic focus have the same equipment needs and are equally well served by this approach.