Healthcare Providers, Are You Asking The Right Question?

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Healthcare Providers, are you still asking vendors to make you an offer for devices you no longer use? 

Asking this question seems reasonable.  However, it exposes you to receiving an offer the device is worth to vendors, not its true potential resale value. 

Before engaging vendors, you must establish appropriate resale value range for your device.  Asking vendors to give you an offer is the same as listing your house on Craigslist and asking home buyers to tell you its worth.

Recently, our office experimented to prove this theory.  We were reselling a surgical device for our hospital client.  The device was manufactured by Stryker and considered to be “in demand” by majority of vendors who buy used medical equipment.

After establishing an appropriate resale value range for this device, we separate vendors in our network into 2 groups.  

Both groups consisted of equipment dealers, brokers, remarketers, manufacturers and private companies that buy used medical equipment.

We asked Group #1 to submit offers. 

We asked Group #2 to pay asking price.  

Asking price was the average of the resale value range. 

Results were as predicted.  Vendors who responded from Group #1, gave offers that were considerably lower than the asking price. 

This is not because they were being insulting or tried to “steal” this device.  Their offers were based on 2 elements:

    1. Our request and willingness to accept an offer
    2. Worth of this device to them under specified conditions

Group #1 was asked “Make Us an Offer“.  That’s exactly what they did.  And, because vendors who submitted offers had a set price in mind they were willing to pay, they were not very open to negotiating.

Back to Group #2.  They were given an “asking price”.  Vendors who responded from Group #2 countered back with a number that was close to asking price.  They were also more open to negotiating the price and terms of this sale.

In the end, the device sold above the asking price to a vendor from Group #2.    

Final price of this device was 94% higher than the lowest offer and 41% higher than the highest offer received from vendors in Group #1.

Takeaway of this experiment is simple.  

  1. Avoid asking for offers. 

  2. Find out what the market paid for “like and similar” devices over last 3-6 months*.  

  3. Establish the resale value range for your device before selling it. 

  4. Set an asking price.

  5. Negotiate, but stay within the resale value range especially if your device is considered “in demand” by used medical equipment vendors.

*What market pays is different from listing prices published online.  Listing prices are inflated to account for negotiations, commissions, fees and other expenses that may be charged by online selling platforms.  

EcoMed works exclusively with hospitals, surgery centers, imaging centers and independent healthcare providers by managing resale and transportation of medical devices removed from clinical use.  If you have medical devices that are no longer being used, contact us and we will provide you with resources that will help you make the right decision on how to sell them.

To learn more about benefits of managing resale of used medical devices, visit, send an email to [email protected] or call Toll-Free 855.234.5600.    

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