Used Durable Medical Equipment Refurbishment on the Rise
The market for used medical equipment is growing according to a recent report released from TechNavio. The study title Global Refurbished Medical Equipment Market 2015-2019 projects a CAGR (compound annual growth rate) of 7.00% over the stated four-year period. Unlike remanufacturing, refurbishment of used medical devices focuses on ensuring the safety and overall effectiveness of the medical device without changing performance or product specification.
Who sells medical equipment? Physicians, administrators/purchasing agents who represent hospitals and dealers who sell medical inventory at wholesale. If you represent one of these parties and you’re looking to sell used medical equipment, here’s a few things to consider before contacting a medical equipment refurbisher.
What to Consider When Selling Medical Equipment
- Pricing Factors – Several key factors come into play when determining an asking price for your devices. Those include the following: age/physical condition, technology of unit, cosmetic condition, difficulty in transporting and refurbishing the item. If it costs more to get the device in working condition than what it costs to buy new, you’ll have a hard time finding a buyer. This leads to the next consideration…
- Be Fair – Pricing the medical equipment to sell is usually the best and only option when taking into account aged equipment. Time is a commodity in the arena of haggling–if you set an unreasonable price on your used item you’ll probably waste more time negotiating than actually making money.
- Supply Adequate Information – Trust is hard to come by in the business world and even rarer if you don’t present yourself as honestly as possible. Is the equipment experiencing any problems? Is it under a service contract? How often is it used? The general rule of thumb when selling anything is to be transparent, leaving little room for doubt and an open door for return business.
- Photographing the Device – Chances are you don’t live in the geographical area of the potential buyer, so in addition to information you’ll want to supply as many photographs as possible. A good variety of pictures gives buyers a good idea of what you’re trying to sell. This boosts confidence in you as a seller. Take photos of the control panel, all components, manufacturer tags, label plates, etc.
- Get it in Writing – Documenting a transaction of any kind is beneficial to both parties in the case of a misunderstanding or blatant fraud. Don’t be unprepared–it happens. When will they pay for the unit? What will the deposit be? Who is responsible for device construction? When will they pick it up? One of the biggest issues people encounter when selling medical equipment is the logistics of removing the device from its place of origin.
Sell KenQuest Your Used Medical Equipment
Kenquest Medical is actively seeking to purchase your used medical devices. Among the items they seek to buy are: Anesthesia Machines, Patient Monitors, Surgical Tables, Surgical C-Arm Systems, Radiology Equipment and many more. If you’re interested in contacting them to sell medical devices listed above, they can be reached through their sales contact form.