Medical equipment can be expensive, which makes buying and selling used medical equipment such a lucrative business, especially if you are smart about which types of equipment you buy and sell.
When it comes to selling used medical equipment, it’s important to first assess the resale value of your equipment. While most equipment that is in good shape will typically sell, certain types of equipment are in higher demand than others. Wheelchairs, defibrillators, infusion and syringe pumps, and surgical microscopes are some of the most popular medical equipment for resale. It is important not only consider demand when appraising a piece of equipment but also if the item is functional, how it looks cosmetically, and the age of equipment, all very important factors in the equation.
The next step in the process is determining how you’d like to sell your equipment. Are you going to sell the equipment online or at a brick-and-mortar resale shop? If you opt to sell to a shop, does this shop offer cash or store credit? Is there a consignment option available? Are you going to reach out directly to other medical facilities in the area? Each of these options have their pros and cons and require different levels of involvement and research.
There are also companies, such as The Lab World, that offers multiple options that are all executed by the same company. Services offered include consignment, auctions, outright purchase, broker, and equipment valuation (in the event you do choose to sell your equipment yourself, but are looking for a professional’s opinion on a going rate for the item). Each service delivers a variety of solutions custom tailored to each client’s specific needs, while providing different ROI, selling cycle, and conversion rates. Learn more here.