This Process Is Changing The Used Medical Equipment Market Forever
Doctors are reclaiming value in the pre-owned medical equipment market every day thanks to a revolutionary process called the Resell Management Cycle.
Keep reading to learn how this cycle is changing the medical equipment market forever, and why every doctor should become part of it.
$5000 Gathering Dust
The average doctor has $5000 of unutilized equipment in storage. That $5000 is value that remains locked away, benefiting no one.
What does this doctor do with all this equipment? After years of sitting idle, the equipment will get written off and either donated or sent to the landfill, recouping zero value to its owner.
The Struggle to Control Expenses
Meanwhile, while one doctor has loads of equipment sitting unutilized in the basement, the new doctor across town is struggling to control expenses. This new doctor is overwhelmed by the cost of starting a first practice, and by an enormous amount of debt.
What if there was a way to meet the needs of both these medical professionals?
Introducing the Resell Management Cycle
The Resell Management Cycle begins when a piece of equipment first arrives in a doctor's office.
After years of use, eventually the doctor will no longer be able to utilize the equipment effectively. It’s either broken, finicky, or no longer fits the office setup.
As mentioned earlier, normally the equipment would sit in storage indefinitely or get scrapped.
But in the Resell Management Cycle, things work differently:
The doctor receives cash for the equipment that represents its fair market value.
Specialized methods are used to sort the equipment into the best processing channel.
Value is added to the equipment through targeted repairs or refurbishing.
Even more value is added to the equipment through online marketing and competitive pricing.
The equipment is sold to a new owner.
With step number 5, the cycle returns to its starting point. Equipment that would normally be scrapped finds a new home.
One day the equipment will again outlive the use of its current owner. And then the cycle will begin again, and will continue to repeat itself until every ounce of the equipment's value has been utilized.
Why Every Doctor Should Be Involved
If you’re not involved in the Resell Management Cycle, you’re missing out on these important benefits:
- As a buyer, you can find the equipment you need at an affordable cost.
- As a seller, you recoup value from the initial cost of your equipment, save the time you would spend trying to sell it yourself, and free up storage space.
- Both buyers and sellers help reduce the volume of scrapped equipment heading to the junkyard.
- Both buyers and sellers help add value to the pre-owned medical equipment market. Everyone wins.
Doctors can use the value they gain from the cycle to purchase more equipment, pay off debt, hire more staff, or fund continuing education. The choice is up to them.
To learn more about the Resell Management Cycle and how you can become involved, read our in-depth post on how the cycle brings value back to your practice.