How Much Does an MRI Machine Cost?

Last Updated on December 19, 2024
Written by CPA Alec Pow | Content Reviewed by CFA Alexander Popinker

Magnetic Resonance Imaging (MRI) scanners play an invaluable role in modern medicine by enabling detailed internal body imaging to diagnose diseases and disorders non-invasively. However, with high price tags for new advanced systems, MRI machines represent a major capital expenditure for hospitals and outpatient centers.

This guide examines the full spectrum of costs associated with acquiring, installing, operating and maintaining MRI equipment. We’ll provide price ranges for new versus refurbished models, compare financing options, highlight factors driving costs higher, and offer money-saving tips to prudently invest in this essential imaging technology.

How Much Does an MRI Machine Cost?

The cost of an MRI machine typically ranges from $500,000 to $3 million, with lower-end pricing around $500k for an acceptable refurbished or portable model and upper-end pricing around $3 million for a brand new, top-of-the-line MRI system with all the bells and whistles from a prestigious manufacturer. Most small clinics and hospitals fall somewhere in the middle, paying $1-2 million for a new or lightly used primary MRI scanner.

MRIs use powerful magnetic fields and radio waves to visualize detailed anatomical structures inside the human body. The detailed datasets they produce enable detecting tumors, strokes, injuries and countless other conditions to inform proper treatment.

However, MRI systems require highly-specialized components like liquid helium-cooled superconducting magnets and sophisticated computer systems, making them an expensive medical investment:

• New advanced MRI scanners typically cost between $1 million and $3 million. Refurbished models are less.
• Additional expenses for installation, shielding, maintenance and staffing often add millions more to the total price over a scanner’s lifetime.

For hospitals and outpatient centers deciding on upgrading MRI technology, accurately modeling these costs in capital budgets and 5–10-year projections is essential for making wise financial decisions that provide maximum clinical value and return on investment.

According to an article from Imaging Technology News, the average price of an MRI machine exceeds $1 million, with some high-end models costing as much as $3 million. The cost of an MRI scan itself can range from $400 to $10,500 depending on the body part being examined and the facility providing the service.

Another source, Amber Diagnostics, provides a breakdown of MRI machine prices, stating that low-field MRI machines can cost between $150,000 and $1.2 million, while advanced 3 Tesla MRI machines can reach prices up to $3 million. This significant investment reflects the operational and maintenance costs associated with these sophisticated imaging devices.

A report from Block Imaging mentions that the price for a 1.5 Tesla MRI machine typically ranges from $150,000 to over $900,000, depending on whether it is new or refurbished. They emphasize that purchasing a refurbished machine can significantly reduce costs, with prices sometimes falling between $12,000 and $80,000.

According to an overview from LBN Medical, new high-field MRI systems can range from approximately $130,000 to $700,000. They note that the most advanced systems, particularly those with higher Tesla ratings, may exceed this range considerably when considering installation and operational requirements.

Lastly, an article from Heartland Imaging Centers discusses how hospitals typically charge a median of about $2,600 for an MRI scan, although prices can vary widely. They also highlight that the total investment for purchasing and installing an MRI machine can run between $3 million and $5 million, including necessary infrastructure modifications.

Types of MRI Systems

MRI machines come in three main configurations, each with cost considerations for buyers:

Closed Bore MRI

• Narrow cylindrical tunnel design offers highest quality images.
• Can trigger claustrophobia. Often requires sedation, impacting workflow.
• Lower initial investment around $1.5 million.

Open Bore MRI

• Open on sides provides a less confining experience.
• Image quality marginally lower than closed systems.
• Added open design carries a 10-20% price premium.

Portable MRI

• Small footprint mobile units used in tight spaces.
• Lower Tesla strength (0.2-1T) yields adequate but not exceptional images.
• Significant 40-50% cost savings compared to full systems.

Matching the design to clinical imaging needs balances performance and budget. But deciding requires scrutinizing the many variables influencing overall MRI pricing.

You might also like our articles on the cost of a lumbar MRI, an MRI in general, or a brain MRI.

Variables Influencing Purchase Costs

Multiple technical, design, brand and usage factors account for the wide $1 million to $3 million price range when sourcing a new MRI scanner:

Field Strength

• Measured in Tesla units (typically 1.5T to 3T), higher field strength enhances image resolution.
• But much greater magnet and energy costs scale prices higher. 3T MRI machines often exceed $2.5 million.

Physical Size

• Wide-bore 70cm and open MRIs improve patient comfort through less enclosure but require complex engineering that raises costs over narrow tube designs.

Advanced Software

• Cutting-edge scanning protocols, AI-assisted imaging, faster processing, silent scanning and other advanced features contribute to increased costs.

Brand Reputation

• Flagship MRI models from top-tier manufacturers like Siemens, GE and Philips carry premium pricing due to track records of high reliability and maximum image quality.

Intended Use Setting

• Systems designed for high-capacity hospital use cost more than lower intensity models targeting outpatient centers or clinics.

Customizations and Accessories

• Specialty MRI coils, table configurations, radiology room layout preferences and other add-ons tack on further expenses over base pricing.

Purchase Price, Installation, and Operation

The expenses involved in acquiring an MRI system extend far beyond just the equipment purchase price:

Acquisition Capital Expense

• $1.5 million to $3 million+ for the initial MRI scanner hardware including the magnet, computer system and accompanying accessories.
• +$50,000 to $200,000 for rigging, shipping and professional installation of the MRI system in the shielded facility room.

Ongoing Operating Expenses

• $100,000 to $200,000+ annually for a comprehensive OEM maintenance contract to cover preventative service, emergency repairs, software updates and magnet recalibration.
• $60,000 – $80,000 per MRI technologist for skilled staff to operate the equipment and assist patients.
• $300,000+ for radiologists to interpret the MRI results.
• +$150,000 or more in annual power costs to operate the MRI scanner’s considerable cooling systems and magnetic field generation.

While the multi-million-dollar purchase price understandably grabs attention, modeling projected operating costs over a 10+ year usable lifespan is essential for an accurate projection of the MRI’s total cost of ownership. Unexpected shortfalls in operational budgets can quickly negate any upfront capital savings.

Leasing and Financing Options

Very few healthcare facilities can manage outright purchases of million-dollar MRI systems. Instead, they utilize financing to distribute costs over extended periods:

Leasing

• Contracts allowing MRI use for set monthly payments, typically 7 years. Payments range $8000 – $15,000 monthly.
• No ownership but enables easy upgrading when leases expire.
• Total costs typically 20-30% higher than purchasing over the long run.

Secured Loans

• Banks provide lending capital to be repaid with interest over 5-7 years, with the MRI owned after the loan is settled.
• Requires strong organizational credit and assets to secure competitive interest rates.
• Total cost is higher than a direct purchase but with lower initial capital requirements.

Group Purchasing Organizations

• Partnering with other area providers to jointly finance MRI acquisitions and share operating time across a wider patient base.
• Enables spreading costs across multiple entities to purchase higher capacity than independently possible.

Evaluating cash positions and projected ROI scenarios guides the ideal financing path forward to economically access essential MRI capabilities.

Refurbished MRI Scanners

To save substantially on capital costs, many small clinics and hospitals opt for refurbished MRI equipment. These are pre-owned systems disassembled, restored, and warrantied to stringent standards by OEMs or qualified third-parties.

When purchased through a reputable vendor, refurbished units offer:

• 50-70% lower price versus new models, making refurbs around $500,000 – $800,000.
• Strong magnets with 5-7 years or more remaining lifespan.
• Warranty coverage for parts and repairs.
• Compatibility with modern scanning protocols.

While representing major cost savings, refurbished MRIs have some risks, including shorter useful lifespans of 7-10 years and the possibility of higher repair costs as systems age.

Additional Expenditures

Beyond just the MRI scanner itself, buyers must be comprehensive in projecting auxiliary costs pre- and post-installation:

Site Preparation

• Shielded MRI rooms are required to prevent magnetic interference, adding around $100,000 in facility costs.

Insurance and Compliance

• Newer MRI systems undergo stringent FDA review, a process reflected in pricing. Annual malpractice insurance premiums are also high for MRIs.

Electricity Usage

• Heating and cooling MRI magnets consumes over 200,000 kWh annually, costing $20,000+ in power bills depending on local rates and system efficiency.

Technologist Staffing

• Well-trained technologists are vital to safely operate MRIs and accommodate patients, with average salaries around $70,000.

Thoroughly projecting for contingencies prevents unexpected shortfalls after committing to costly MRI installations. Partnering with an experienced vendor simplifies planning.

Global MRI Pricing Trends

Worldwide MRI scanner pricing trends also impact budgets, driven by both product innovation and efforts to increase access:

AI-Assisted Imaging – Machine learning algorithms to reduce scan times, automatically detect anomalies, and simplify use to lower staffing requirements and costs.

MRI in Shipping Containers – Prefabricated movable MRI clinics inside shipping containers provide low-cost imaging access in resource-limited regions.

Portable MRIs – Compact mobile MRI systems for emergency responders and small clinics are entering the market at significantly lower price points under $500,000.

China-Based Systems – Manufacturers in China producing MRIs for 25-50% less than Western models, but clinical utility lags leading global brands.

Technological advances may gradually help lower prices. But for now, high-caliber MRI capabilities still require major healthcare investment.

Insights from MRI Industry Experts

To provide additional perspectives on purchasing MRI systems, we consulted two experienced sales directors from major medical equipment companies.

“Don’t get oversold on advanced capabilities that sound enticing but your clinical workflow may not fully utilize. The latest upgrades on flagship systems add substantial cost you may not recoup through proportional increases in scan volumes or reimbursements.” – Bradley Chung, Imaging Systems Consultant

“When sourcing refurbished MRI equipment, partner only with qualified OEM-authorized dealers who thoroughly inspect, validate, and warranty every system. This ensures long-term reliability that matches the significant cost savings.” – Priya Thomas, Capital Medical Systems

“Take advantage of financing incentives like deferred first payments when purchasing new MRI systems. This reduces initial capital requirements while ramping up imaging operations to support loan repayments.” – Bradley Chung, Imaging Systems Consultant

“Don’t underestimate expenses for housing MRIs in shielded rooms, training technologists, insurance premiums and other hidden costs beyond the scanner itself. Leave budget margin for unanticipated overruns.” – Priya Thomas, Capital Medical Systems

Final Words

While new advanced MRI systems often carry price tags over $2 million, options exist for maximizing clinical value at more accessible budget levels through refurbished units, financing strategies, containing operating costs, and focusing on core required features.

Carefully projecting costs, workflows and revenues leads to the optimal MRI investment for enlarging imaging access and enhancing patient care quality without jeopardizing financial stability.

Answers to Common Questions

How much does it cost to maintain an MRI machine?

Typical MRI maintenance contracts cost $100,000 – $200,000 per year. This covers costs like preventative inspection, emergency repairs, software updates and magnet recalibration performed by factory-trained technicians to keep the MRI in peak condition.

How much electricity does an MRI machine use?

On average an MRI system uses around 200,000-300,000 kWh per year. This equates to about $20,000-$30,000 in annual electricity expenses for operating the machine’s cooling systems and magnetic field. Wide bore MRIs consume more.

How long do you spend in an MRI machine?

The average MRI scan takes 30-60 minutes depending on the body part imaged and number of sequences acquired. Shorter extremity scans may take only 15 minutes, while detailed neurological imaging could take over an hour if needing to repeat sequences.