Should You Buy New or Used Medical Equipment?

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Source: medical equipment

The need for proper medical equipment has been on the rise throughout the global pandemic. If you are the owner of a clinic, you know this is true. And, in an industry like this, knowing exactly where you get your equipment from is crucial. The difference between something of high quality and something of low quality can determine whether someone will live or not. Needless to say, deciding whether to buy new or used medical equipment is a tough decision that has to be made.

But, money is an important factor in life. And even though money shouldn’t decide anything in the health field, someone has to pay for all that equipment. Your budget will determine whether you can equip your clinic with new or used medical equipment, and today we’re here to point you in the right direction. Let’s take a look.

Advantages and disadvantages of buying used medical equipment

Source: Azom.com

As per usual, buying something that was once used will allow you to save money. This is a perfect option for those on a budget. Here are the advantages of buying used:

  • You can find used equipment much more easily and you won’t have to wait for it
  • You get to save money because used equipment is always cheaper than brand-new
  • Some parts may have been swapped with newer ones, which means better value for you
  • If the equipment is well maintained and properly taken care of, you are not losing much

All these things are great, however, it’s not like purchasing used equipment is perfect and without any flaws. Let’s take a look at some of the downsides as well:

  • You don’t have a long-term warranty which can be quite the risk
  • The equipment may not be in the best shape
  • If something ends up falling at a crucial moment, your customers can sue the clinic
  • You need to find a reputable and trustworthy seller
  • During these times, even used medical equipment is expensive
  • Purchasing used equipment may not give your clinic the best reputation out there

When you weigh in the downsides and the advantages, you get a clear representation of whether this is the right choice for you or not. In short, if you are on a budget and you need to expand your equipment arsenal, purchasing used is probably a great choice. Now let’s take a look at what a brand-new purchase can get you.

Advantages and disadvantages of buying new medical equipment

Source: Sage Services Group

This is the more expensive choice but also the one that ensures more safety as well as a better reputation for your clinic or hospital. Here are the advantages:

  • You spend more money but you get a warranty for each piece of your equipment
  • You have the latest technology and the most up-to-date tools which makes life easier
  • Your clinic or hospital gets increased reputation, meaning you can increase prices as well
  • You know that you’re purchasing something nobody else has used before
  • You have a much broader range of choices which is not the case when buying used

These are all great, but what are some of the disadvantages of purchasing new? Well, it’s mostly high prices, especially with the current situation, but what else? Let’s take a look:

  • Unaffordable if you are on a budget
  • Makes for a riskier investment because you lose more if the business doesn’t turn out well
  • It’s difficult to find brand-new equipment because of the global pandemic

If you are interested in brand-new equipment, ynrinstruments.co.uk is a website where you can learn more as well as take a look at a few examples.

The third option – Refurbishing old and used medical equipment

Source: Used Hospital Medical Equipment

If you’ve purchased some really solid medical equipment back in the day, it would be a shame to sell now for a low price or sell at all in general. This is where the third option that most people overlook comes into play, which is to refurbish the already-existing medical equipment. Here are some of the things you need to take into consideration before doing something like this:

  • Check the credibility of the vendor that’s supposed to do the refurbishing for you
  • Test the waters by submitting just a few items for refurbishment and seeing the results
  • Do the math on whether it’s worth restoring and maintaining over purchasing brand-new

Usually, for things such as metal tools and other similar instruments of a small size where no complicated mechanisms or tech is involved, it’s almost always worth it to refurbish. However, for top-tech machines and equipment, it’s sometimes risky to put them through such a procedure, especially if the refurbishing vendor is not proven to be a true professional.

Sometimes bringing such a decision on your own is not easy because you need a deep understanding of medical equipment and tech to do so. However, there are people you can consult with for this particular cause.

Another thing you need to plan is how and will you be able to operate your clinic and take care of your patients while your equipment is being refurbished or swapped for a new one. This is important to plan because you don’t want to leave your clinic out of service. Also, remember that all used equipment can be traced back through the use of a serial number. By doing this you’ll know whether it’s worth refurbishing your old equipment based on details about the past.

Source: Auction Masters

Conclusion

Determining whether now is the right time for new equipment in your clinic is not an easy thing to do, especially now during a global pandemic where these things are pretty difficult to purchase. This is why some people opt for buying used, and in today’s article, we weighed in the pros and the cons to help you make the better decision out of the two.

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