Do you know your options when disposing of retired assets? You may have more choices than you think. BidMed’s disposition workflow ensures the best outcome for your capital budget, often returning thousands to the bottom line.
This process also ensures equipment finds the best end point for its usefulness. That may be another facility in your network, a buyer that can refurbish it, an international purchase, or donation/scrap removal. We’ll help walk you through the following steps, with custom technology built to support each option along the way.
Valuation & Trade Comparison
Most facilities’ first consideration when retiring capital equipment is an OEM trade-in. But you may not be getting the best returns on your investment.
The BidMed GreenBook is our proprietary database of actual sale prices for thousands of secondary market medical equipment transactions around the United States. Using a two-pronged approach, blending both historical data and current market trends, our specialists give you a true representation of what the equipment is worth in resale compared to your trade-in offer.
Is your trade-in value the best option? If not, consider whether you can reallocate the asset another facility in your network, retaining capital value within your system.
Reallocate Assets on the Private Exchange
Healthcare systems can subscribe to their own Private Exchange, allowing multiple facilities access to a private list of equipment. Internal transfers made on the Private Exchange ensure value is retained within your system, benefitting the bottom line of your capital budget more than resale.
Assets are easily pushed from your SMS inventory list to your Private Exchange, and if assets aren’t reallocated in a timeframe you set, listings can easily be re-published. BidMed subscribed hospitals can choose whether to re-list assets on the Hospital Exchange, giving other health facilities first access to buy the equipment, or for open sale on the Public Exchange.
Can another facility benefit from asset reallocation? If not, relist your asset on the BidMed Exchange for public sale.
Sell Items on the BidMed Exchange
The BidMed Exchange is a premier online marketplace developed specifically for secondary market medical equipment. We connect buyers and sellers to optimize healthcare facilities’ capital budgets and help sellers move quality inventory to appropriate new users.
Several listing formats are available, depending on the seller’s preference:
Timed Auction | Buyers submit bids for a set period of time, and the highest bidder above reserve wins the item. All registered users can see the current highest bid.
Best Offer | Buyers submit sealed offers, not visible to the public, for a set period of time. The seller may then choose the winning offer, often the highest value, though other considerations may take effect.
Can your asset be sold on the Exchange? If not, your item may not have any retained value. BidMed can help advise whether to donate, scrap, or recycle assets with minimal remaining value.
Donate, Scrap, or Recycle Unsellable Materials
If a healthcare facility wants to donate assets, BidMed can provide certified appraisals, which can be submitted for tax write-off savings. Assets that cannot be donated should either be scrapped or recycled, and BidMed can advise facilities on the best options for this type of removal.