Can Medical Equipment Disposition be a Money Generator for Hospitals and Surgery Facilities?
When you went to medical school, you thought you would be spending time as a healthcare practitioner. However, the last thing you had in your mind was managing the medical waste disposal. So while waste is one thing that we will always have, medical waste is something that we rarely think about. But medical waste disposal is an expensive reality, mainly for any hospital or surgery facility that handles bio-hazardous equipment and material.
As a medical practitioner, whether in a hospital or a surgery facility, the last thing you want is mismanagement of the medical equipment and waste where you have to think of paying for them. But there is a way that while you adhere to the medical laws, standards, and regulations and comply with them, you can make money by disposing of the medical equipment.
Every medical facility often faces the problem of what to do with the retired equipment like stretchers, hospital beds, shelving units, unused medical equipment which the latest ones have replaced, mobile ECG units, carts, etc. Instead of seeing these as liabilities, they should be used as a revenue generator for the facility.
The obvious question is HOW?
Well, let’s see how you can turn retired medical equipment disposal into a money generator for your surgery and hospital facility.
Moving Away From The Norm
If you want your medical equipment disposition to be a money generator, the first step you need to take is to move away from the norm.
It is a known fact that in the healthcare system, equipment disposition is a headache. The department responsible for the disposal is shared between the Facilities Management department and the Biomedical team. However, when each of these departments lacks the facilities to provide proper disposal solutions, the equipment becomes a liability.
It has been seen that many acute care facilities try to dispose of the equipment by themselves and often fail to do so, thus putting them in the basement or warehouse as decommissioned equipment. The idea is to keep this equipment there and later use them for replacement parts.
But the reality is something else.
It’s time to think of disposing of them in a different way.
Retaining them for parts of hard disposal should be your last resort because there are quite a few other options for disposing of the equipment. Mainly if you are leasing a warehouse to keep the old equipment you are losing money, stop that immediately and think of these next steps.
A Buy Back Service
There are several medical equipment buy-back service providers in the market. Instead of storing the retired equipment in the warehouses, contact a company or a healthcare equipment service provider who specializes in equipment disposition.
The process is quite simple. Once you contact them, they will come and evaluate the equipment. Next, I will tell you how much you will get for the old equipment and then schedule a pick-up for it. Generally, the service provider should not charge you for freight. Hence make sure whether you have to pay for the pick-up service, in case they ask you to, you can always negotiate or go for another provider who won’t charge you.
In the medical equipment business, many distributors and manufacturers offer equipment replacement when you are doing a replacement or equipment upgrade project for your facility. If you contact the distributor or manufacturer from whom you got the equipment, they will provide you with an equipment replacement service for a nominal fee.
Typically they will come and see the old equipment, do an evaluation and offer you cash for any equipment that is viable for resale while disposing of the ones that are obsolete or have expired. Then, at a mutually agreed time, they will schedule a pick-up of the items, and in case new equipment is being exchanged for the old, they will replace the old with the new at that time.
The entire process is not only cost-effective but can prove to be profitable too since you have to pay a nominal price for new equipment while getting rid of the old. We all know medical equipment is quite costly, and the new ones are extremely pricey.
A Comprehensive Disposition Service
When you are disposing of medical equipment, you have to adhere to quite a few state and federal rules and regulations. Failure to do that can cause you to pay heavy fines. One of the best ways to avoid that is to contact a healthcare equipment disposition and distributor service provider to give you a customized and comprehensive solution.
You can go into a customized agreement with a company to ensure a timely pick-up for any decommissioned or retired equipment. Even reevaluate the equipment to assess whether to resell or refurbish them. They will also take care of donating it to a charity and even recycle them at a proper recycling facility.
A comprehensive service provider like PT Medical technologies also executes the disposal process through your chosen pathway while offering customized periodical reporting and itemizing the disposal status along with the profits made by you.
But when you are opting for such a service provider, ensure you include the profit-sharing term into your contact.
When you use any of these options for your medical equipment disposition, you are able to make money instead of losing with your old medical equipment. The only criteria are to iron out the terms and conditions and also avoid multiple pick-ups.
With a reputed medical equipment disposition service provider at the helm of disposing of your retired equipment, you will no longer have the headache as to what to do with them. Instead, the company will take care of it while you enjoy the profit from the obsolete or old equipment.
Contact PT Medical technologies if you are looking to partner with someone who will take care of your medical equipment disposal. We are the expert in the field and can take care of all medical equipment disposal while adhering to the industry best practices and the rules and regulations laid out by the state and the federal government.