Medical and Lab Equipment

Before answering the question of whether to purchase new or used medical or lab equipment, another question must be answered before the question of whether to purchase new or used.  That question is “Should I buy a piece of medical or lab equipment at all?”  In today’s market of ever dwindling profit margins, a careful study of how the investment dollar can best be spent is the first question to answer.

If the thrust of your practice is to increase your pediatric population, though you may not have a bone density densitometer in your office and it would be nice to have one, it may be that such a purchase does not fit your business goal of increasing the number of your pediatric patients.  The $12,000 spent on a bone density densitometer may better be spent on adding an area to your waiting room that is kid-friendly.  Include kid-sized furniture, video games and other items of interest to the pediatric population, and spend some advertising dollars on your kid-friendly office.  The point is that you first determine whether any major expense fits your business plan and will give you a return on your dollars spent.

Return on your dollars spent is sometimes difficult to assess.  Hiring another staff person to perform routine tasks at a lower rate of pay than you are paying an employee at a higher rate makes a lot of sense.  If such an action releases a higher paid employee to perform tasks that will return a higher dollar to your practice, you’ve done well.  Some expenditures are less quantifiable, such as, should I replace the waiting room furniture that is beginning to look a little shabby?  If the appearance of your office and waiting room is deterring patients from coming to your office, then you need to freshen up the appearance.  About the only way to know if that is the case is to ask your patients to give you feedback.  An occasional survey they can complete while in the waiting room can provide you with information about some of the intangibles.

Now let’s consider buying used or new medical and lab equipment.  In the economy of today, purchasing used can be a wise decision if done correctly.  Bargain prices are possible, and usually the best source for used medical equipment is the internet.  Be specific in typing into your favored browser exactly what you are looking for.  As much information as you can type into the browser, the greater the chance you will find what you are looking for without searching through multiple dead ends.

Look for pictures of the medical equipment for which you are searching.  You should be able to obtain a review of the product.  You should already have done your research on the product itself, so before you go looking you know its quality, its reliability, and its relative cost and extended warranty coverage.

With the speed of technological advances, some medical equipment that is very technologically dependent loses value more rapidly over time.  Be careful not to overspend on equipment that is likely to be outdated in a relatively short period of time, You don’t want to purchase an expensive piece of equipment from which you will make little return on your investment.

Finally, when buying, do your best to find a gently used piece of equipment. Get a confirmation that whatever you are purchasing is fully functioning.  Try to arrange a deal that allows you to have the equipment inspected by a trained professional or refrain from making any payments until the equipment is in your office and it is functioning correctly.  Attempt to arrange a purchase that is able to be returned within a contracted period of time for a full refund.  Lastly, any purchase that is listed “as is” is best left to another buyer.  Caveat emptor is the best advice in this situation.