Nobody wants to lose money on equipment trade-ins, but how can you avoid it happening to your hospital? Our last tip highlighted how establishing the price of the new equipment without any trade-in factored in is a good first step in not making a costly trade-in decision. But knowing the price of the equipment is only the start. The next step requires determining what equipment you may trade-in is worth, and then evaluating any trade-in offers based on how competitive they are.
Establish what your trade-in is worth before requesting an updated supplier quote with a trade-in included. Using good information, (meaning accurate, objective, and reflective of current market values) to know the value of your equipment, is the best way to make a fully informed and confident decision about whether to trade equipment in, and for how much.
Negotiating equipment purchases can be a complex process, and many suppliers use trade-in values to show deeper discounts that you might be able to negotiate anyway without a trade-in factored in. Don’t you want to know before finalizing a purchase or recommending your hospital move forward with a trade-in? Don’t forget that the Miga EVMS Estimate of Resale Value and Trade-in Optimizer reports are one easy way to get the good information you need to make the best trade-in decisions.
If your hospital already subscribes to EVMS, you have access to the best information available to benchmark and verify the value of your trade-in.
If you’ve never used our Equipment Value Management System (EVMS), we would love the opportunity to show you how to know with certainty you’re getting the best price and maximize savings for your hospital. You’ll quickly under-stand what makes our data and technology better, and how EVMS can find you more savings than any other solution available.