Medical Equipment Prices: New vs. Used

Medical equipment prices go from $2,000 to $100,000 USD. If they’re used, they can cost around 30 to 40% less than new ones.

This amount will depend on the type of instrument, but mostly on its brand and the technology it involves to function.

The one every professional or institution buys will change according to the needs of their patients and their budget.

In this article, we’ll cover the way each factor reflects on the price of medical equipment, how their prices change depending on the country and the worth of buying new versus refurbished devices.

If you want, you can jump to the conclusion to read the summarized ideas for each section.

What affects medical equipment prices?

The factors that affect the price of a healthcare instrument are the following:

Type of instrument

Whether we’re talking about a microscope, a laser, or a distiller, each type of instrument will use different materials, have specific requirements, and be more or less complex than others.

There are as many types of instruments as branches of the medical profession and as the number of tasks that need to be performed during a procedure.

For example, here’s the average price of some product categories:

To see a complete list of types of instrument and their average prices, we recommend you check this page out.

Brand

The price of a medical instrument will depend heavily on the type of device each company sells and the added value brands offer their clients:

Reputation: Does this brand offer high-quality equipment? Does it offer my patients the best experience possible? Are the instruments accurate and precise enough? Can I trust them?

Years of experience: Is this a new name in the market or is it a renowned brand?

Remote service: Will they pick up the phone or reply to my email if I contact them with questions about the products?

Financial solutions to acquire their products: If this is an expensive brand or instrument, do I have available payment methods that make this an affordable decision?

For example, those are some of the benefits of buying Zeiss.

Are you interested in buying Zeiss? Click here for more information

Technology

How recent, professional, effective, and safe a medical device is will depend heavily on the technology it uses to function.

According to Health Tech Zone,

Among the best technologies used in healthcare today include technologies such as big data analytics, artificial intelligence, wearables, cloud, robotics, 3D printing, blockchain, augmented reality, and others.

Many times, advanced technological devices will allow the procedures to be the least invasive possible, which means:

• Benefits for patients⁣⁣
• Shorter operation times⁣⁣
• Benefits for surgeons and hospitals⁣⁣

Used medical equipment prices

For some customers who can’t afford new equipment, refurbished instruments are an option.

They can cost around 30 to 40% less than new ones, and can also have long-lasting warranties of their optimal functioning.

Just as Elite Medical Equipment puts it,

Refurbished medical equipment is a smart way to minimize expenses, but you need the right buying approach to ensure each item’s quality. As long as you know what to look for, you don’t need to trade quality and lifespan for affordability.

What is the difference between used and refurbished medical equipment?

“Used” equipment usually comes as-is, meaning you have no warranties or guarantees about how well it will work or for how long. On the other hand, “refurbished” or “reconditioned” equipment typically has received functional repairs of some kind.

What to look for when buying refurbished equipment

In an article of their blog, Concordance Healthcare points out some essential things to review before making a buying decision for refurbished medical equipment:

• Model Number: Model number, accessories, and software should all relate to the right equipment. Also, verify that the software supplied is the right version.
• Documentation: Check that the vendor is certified to refurbish equipment and is insured.
• Original Replacement Parts: Have original factory parts been used?
• Manuals: Are operator manuals supplied?
• Training: Verify that the vendor’s technicians are certified to repair, test, and calibrate the equipment.
• Warranty: Equipment must be supplied with a warranty.

Other questions to ask yourself as a health institution or professional before deciding between buying new or refurbished equipment are:

• Is it a high-tech vital piece of equipment? If it fails could it put the life or well-being of a patient in jeopardy? If so, go with new. If it’s low tech, non-vital, refurbished may be OK.
• What is the expected useful life of the product and how will that be affected? The longer the expected useful life, the more likely you will want to buy new.

Do medical equipment prices change according to the country?

The price of medical equipment usually stays the same across the globe. As explained, the main factors that reflect on the cost of a device of this kind do not include the geographical region it is distributed in.

However, Medilex’s experience tells us that in Latin America sometimes costs are somewhat cheaper than in the rest of the world.

This is due to the particular economic conditions of the countries, but it doesn’t affect the quality of the instruments.

Conclusion

The range of prices for medical equipment is very wide, and it depends on a series of factors that will affect the performance, safety, quality, and lifespan of the device.

The key elements that will make an instrument more or less expensive are the technology it involves and the brand that manufactures it.

The type of instrument will also impact its price, but in a smaller measure. Lastly, the country it was produced or distributed in will have almost no effect on the value of the product.

Buying pre-owned, used, refurbished, or reconditioned equipment is a way to save money up to 40%, but it must never justify acquiring defective instruments that may affect the safety of a medical procedure.

If you’re looking for a trustworthy company that puts customers and patients first, you can reach out here.