Buying Refurbished Medical Equipment: The Truth About How Much Money You’ll Save

June 15, 2017 7:35 pm Published by Leave your thoughts

The ever-changing healthcare industry continues to be a challenge to work in, regardless of the precise role you play. However, if you have your own practice or manage the budget or equipment purchasing for a larger practice or even a hospital, you’ve witnessed firsthand the shrinking profit margins in the healthcare industry.

With tighter budgets and more stringent guidelines to work within, there is an ever-present need to find new and innovative ways to save money in the healthcare industry. One approach both small practices and large hospitals are considering to reduce their operating costs is buying used or refurbished medical equipment. Depending on the piece of equipment and its condition, buying refurbished medical equipment in Lubbock, TX will usually give you a savings of anywhere from 30 to 70 percent. However, before opting to buy a piece of refurbished equipment, there are other factors to consider to truly understand how much money you’ll save.

How much use will you get out of it?

This is really a question of value vs. cost, similar to what you would consider when buying a used car. First, you need to know how much life is still left in the piece of equipment or how many procedures you can still perform with it. Then you need to consider how frequently your particular facility will need to use the equipment. Is this something you will use several times a day, or only a few times a month? Once you’ve determined these factors, you can compare the value (life of the equipment plus how much you’ll use it) as opposed to how much you will spend on it. This will give you a better picture of what your actual savings will be.

Will you have to perform the installation and training yourself?

Depending on the type of equipment, professional installation and staff training may be in order. If so, you may not get these additional services when buying used equipment, which means you will have to hire another outside source to do the installation and help train your staff on how to use the equipment. These added services may also reduce your savings, so it is important to get estimates on installation and training before you buy.

What about repairs and troubleshooting?

Medical equipment can be delicate and will typically need multiple repairs and troubleshooting sessions during its lifetime. Used medical equipment does not generally come with the same guarantees and warranties that new equipment does, so you will want to consider how often a piece of equipment may need repairs and who is responsible for offering these services.

Buying used and refurbished equipment is smart and the savings are significant, but only if you approach it with a clear understanding of other costs and choose to buy from a reliable seller. If you want to get top-quality equipment from a seller you can trust, as well as the biggest savings, buy from Stat Biomedical Inc., the leader in refurbished medical equipment in Lubbock, TX and across the state!

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