Buying and Selling Preowned (Used) Medical Equipment’s- Things to Keep in mind
With rising costs of setting up and managing Healthcare facilities it becomes important that we as Doctors and concerned about our financial health in addition to providing exceptionally good clinical services to our patients.
We can find a way to take care both the financial health of our organisation and health of our patients by procuring preowned equipment’s from other Hospitals or from the secondary equipment market. This way we can save operating costs and also at the same time continue to provide high quality care to our patients.
If Buyers and sellers have a clear understanding of the sale process, this will form a very viable alternative to new equipment’s which are expensive. The quality of new equipment’s
Understandably, the process of buying or selling pre-owned medical equipment is more complicated than it would be for a used car. Both buyers and sellers must be aware of how to go about it to help ensure the best results for everyone.
This blog is for anyone looking to buy or sell medical equipment on the secondary market with some useful tips. When done with care, these types of transactions can be beneficial for hospitals, health care providers and patients.
Buyers Guide. Where to Look for Used Equipment’s
1) Social Media – Colleagues usually post about these equipment’s on professional what’s app groups and Facebook pages. For example https://www.facebook.com/groups/OphthalEquipmentForum is a forum dealing with New and used Equipment’s in Facebook for Ophthalmologists.
2) Equipment Companies- Most Equipment companies now have option for refurbished Equipment- Its good to purchase from them but may be costlier than buying directly from a seller. They take back old machines from Doctors when they are upgrading to latest ones, refurbish and provide them.
3) Dealers of Used Equipment-There are many dealers who deal with used Equipment. Most important to check is the credibility of these dealers and the equipment’s they sell before we deal with them.
4) Closing Medical Facilities-Watch out for closing medical facilities – if you know of any facility which is closing in your locality ask regarding their equipment’s.
5) Online sites- There are many websites which sell preowned equipment’s, you may search online to check them for your speciality. Exercise extra caution when dealing with International websites.
Tips for Buyers
1) Verify the source – Its very important to verify the source of the equipment, always better to buy from known colleagues rather than third party sellers.
2) Always confirm the Equipment’s Condition- Buyers should verify the equipment’s condition before they make the purchase. Either go directly and inspect or send a trusted person to check the equipment physically, verify working condition, year of purchase, purchase bills, if the equipment is on any loan, accessories, AMC, CMC etc. You can also use third party resources who can verify and valuate equipment.
3) Terms of sale- Get the terms of sale in writing from the seller of the equipment. It is better to have the seller service the equipment from the company before he makes the sale. Get the seller to pack the equipment properly with the original packing material and send through a reliable courier. Its better to insure the equipment for damage during the transport process. You can have a condition of returning back the equipment if equipment malfunctions due to mother board type of issue within 3 months from the sale period.
4) Negotiate fairly- Its very important to negotiate the price in a fair manner with the seller and not ask for too low prices, and once price is agreed upon, pay an advance to ensure your commitment.
Tips for Sellers
1) Provide Proper details: Whenever equipment is listed on social media- make sure to give proper details such as Name, Brand, Model. Year of purchase, Accessories, AMC, CMC, reason for sale, condition of the equipment and your expected price and remember to add as many pictures of the equipment as possible with your contact information.
2) Know who is buying: When you get enquiry- know the seller completely and if he is a Doctor, or Administrator or Equipment purchaser. Better to sell to Doctors directly – when dealing with third parties always provide the equipment after complete payment. You will get better prices when you sell equipment directly to a buyer rather than offering the company as a buy back.
3) How to price your Equipment: This depends on Age of device, cosmetic condition, Age and type of technology, Ease of Transportation and Installation, Working condition, AMC, CMC etc. Of these the most important is the age of Technology and working condition of the equipment.
4) Price fairly: Based on the above condition price your equipment fairly- asking too much will delay the sales and will lead to dead asset in your centre. Remember the quicker you dispose the equipment the better. Be honest and tell all details completely to the buyer about your equipment. Please note that though finance is involved you are going to help a junior colleague for his practice by providing your equipment so always have this thought in mind.
5) Put everything in paper- When you sell the equipment, put the sale conditions on paper and get it signed by the seller and retain one copy with you. For example, if you there is small fault in the screen of the equipment, mention that this has been shown and explained clearly to the seller before the purchase.
6) Involve professionals- Seek help from professionals before you want to sell your equipment, determine prices etc.
7) Support the Buyer- Provide as much support to the buyer as possible – by asking the company person to service and pack the equipment professionally so that there is no damage during transport. Provide all paperwork and bills for courier company and also make sure you engage a good company to transport and handover the device to the buyer. Make sure your handhold the buyer till the time the equipment reaches him and starts working.
8) Have Patience- Finally preowned Equipment sales are a long process and you should have patience to conclude the sale.
You can involve Ophthall Practice Development to assist in your equipment sales- for more info
Post Details of Preowned Equipment in our discussion board
Call Mr Hari 8754517944