While many factors are responsible for the rapidly increasing cost of healthcare, the continuous rise in the price of Medical Equipments is certainly playing a major role. The cost of equipment is higher than ever, but the health insurance are compensating at lower and lower fares, which is pushing the clinics and hospitals between a rock and a hard place. Healthcare providers thus require a creative way to keep costs down. Using Refurbished Medical Equipment is a smart way to minimize the expenses.
What does “Refurbished” actually means? Refurbished equipment are those who have received cosmetic or functional repairs of some kind. These equipment have no functional problems, but the repairs received are to improve its visual appeal. In some case, some parts of equipments may have been replaced before resale to restore their functionality.
Refurbished Medical Equipment
Some companies allow working or non-working devices to be used as a trade-in to buy refurbished Medical equipments applied towards a rental online program. In some cases, the offset of a trade-in amount can pay a full year of equipment rental. Which means it allows you to use the equipment for free for an entire year.
Growing demand for low-cost medical devices due to financial limitations, increasing privatization in the healthcare sector and rising espousal of refurbished medical equipments in developing countries are the key factors stimulating the growth of the market. The Refurbished or Used Medical Equipment market is expected to reach $10.37 billion by 2018, at a CAGR of 13.6% from 2015 to 2019.