Whether you’re selling assets or looking to save on purchases, the BidMed Exchange will help maximize your bottom line. BidMed is the only asset disposition company to develop our own in-house, custom-built auction software to connect buyers and sellers, allowing us to tailor features specifically for the medical equipment secondary market.
Why Should I Use the BidMed Exchange? How is it Different?
With a network of over 10,000 healthcare facilities, OEMs, and dealers, the Exchange comprises a diverse database of equipment in over 38 categories, ranging from like-new to quality refurbished or as-is condition. Whatever your goals are, the BidMed Exchange can help connect you with the right buyer or seller for your equipment.
Watchlist | In order to track multiple assets of interest, the BidMed Exchange includes a Watchlist feature, allowing buyers to mark assets they’d like to save and return to later. All listings include a Watchlist button that can be toggled on and off, and Watchlist items can be found by filtering on the Exchange listings page, or within a user’s SMS account.
Automatic Bidding | Auction listings on the Exchange and in BidMed Events feature automatic bidding in order to simplify the buying process — simply submit the highest bid you’re willing to pay (this amount is never revealed) and BidMed will automatically increase your bid as competing bids are submitted, maintaining the top position until your maximum is reached. Should another buyer submit an equal or higher maximum bid, you will be notified in order to increase your bid if you’d like.
Comprehensive Filters | Equipment on the Exchange can be widely diverse; therefore BidMed has developed a number of qualifying tags to help buyers find equipment matching their needs. These tags include:
- Equipment Condition
- Seller Type
- Sale Format
- Shipping Location
For more details on filters and tags, read Filtering for Best Results.
Who Uses the Exchange?
Our network includes a wide range of medical equipment industry leaders such as healthcare facilities, OEMs, and specialized dealers and refurbishers.
Hospitals, surgery & imaging centers, doctors’ offices, and more can find ways to optimize capital budgets by both buying and selling on the Exchange. SAVE thousands compared to new with quality refurbished or like-new assets coming from OEMs, dealers, and other healthcare facilities. Or RETURN more to your bottom line by reselling retired assets back to the OEM, refurbishers, or other facilities (leverage FMV reports to know what your equipment is worth).
Upgrade your inventory management system using the BidMed Surplus Management System (SMS) and expedite returns on your assets by accessing our extensive network of healthcare facilities and end-users. Dealers may also find great deals on equipment needing refurbishment coming out of service from healthcare facilities.
OEMs can use the Exchange to showcase recertified inventory or sell off-brand assets, as well as keep tabs on brand equipment coming out of service from healthcare facilities across the country.
What are Sale Types?
There are four primary sale types on the Exchange, including Best Offer, Auction, Buy Now, and Catalog. There is also a fifth listing type for equipment that’s Wanted by a current end-user.
These listings utilize an offer management (or sealed bid) process and do not publicly disclose competing offers. To participate in a Best Offer listing, buyers can submit their top offer to the seller. When a Best Offer listing closes, the top offers are presented to the seller, who will then select the winner based on criteria including offer price, buyer reputation, etc.
Assets posted as an Auction listing are a guaranteed sale and will be awarded to the highest bidder (above reserve, if applicable). All users can see the current highest bid, and bids are increased by pre-set increments. Auction listings utilize automatic bidding to simplify the process for buyers.
Some items on the Exchange are listed with a set price—no bidding or offer management required! If you are interested in a Buy Now item, simple click the Buy button and complete your transaction.
A certain number of assets are commonly available from BidMed’s Certified Refurbishers and will be listed on the Exchange as a Catalog listing. Buyers can choose “Request Information” on these items to source assets currently available from our trusted network.
What are Seller Types?
There are four types of sellers on the Exchange: Healthcare Facilities, OEMs, Dealers, and Certified Refurbishers. Each group is likely to have particular types of equipment and similar quality conditions, so buyers can often narrow their search for ideal equipment based on Seller Type.
Hospitals, surgery and imaging centers, doctors’ offices, and more qualify as Healthcare Facilities on the Exchange. Equipment from these facilities can range widely in type and condition, and are usually sold as-is. These assets may be like-new (specialty equipment ordered for a physician who has moved on), ready for service (usually 5+ years old but still in good working condition), ready for refurbishment, or parts-only.
As the secondary market for medical equipment grows, more OEMs are offering certified refurbished equipment to end-users. Though this equipment is usually ready for end-users, some OEMs may sell off-brand (non-refurbished) assets they do not specialize in (equipment condition will be marked per listing).
Secondary market dealers resell medical equipment that has been refurbished or acquired through hospital liquidations. Many dealers specialize in a particular category of assets, such as Imaging or Beds/Stretchers. These assets are usually refurbished or in good working condition, though some dealers may sell off-specialty equipment to other dealers (equipment condition will be marked per listing).
BidMed has a network of vetted, certified refurbishers who come with our highest recommendation. These sellers will be marked explicitly and sell equipment that is refurbished and ready for service.
For further reading about using the Exchange, please see:
Anatomy of an Exchange Listing & Buying by Sale Type
Filtering for Best Results
Best Practices for Listing on the Exchange
Tracking Bids – Am I Winning?
Post-Sale Processing – How Do I Send or Receive My Items?