Medical, Lab & IT Equipment Benchmarking & Analytics

Medical, Lab & IT Equipment Benchmarking & Analytics

August 19, 2021


Don’t Lose Money on Equipment Trade-Ins, Part Three

This is the third and final installment in what was originally a 2-part tip on how to avoid losing money and help set you up for trade-in success.

The first two tips in this series highlighted the benefits of first establishing the price of new equipment without any trade-in factored in, and then secondly, separately determining the market value of equipment you are considering trading-in. This is the best way to make the most informed decision and avoid losing money by trading in equipment for less than it is worth.

In the end, after taking these steps, you may decide the best option is to not trade in your equipment.  However, if your approved budget for the new equipment purchase assumes the trade-in value is factored in, you may face the roadblock of having to request additional funds before going ahead with the purchase.

Request funding for the full cost of new equipment without a trade-in.  This will give you the most flexibility to decide whether to trade in equipment when you are ready to make the decision. If you don’t end up opting for the trade-in, you’ll then have enough money approved to complete the purchase even if you decide to sell or keep the old equipment.

Most hospital CFOs won’t be upset if you end up spending less than the approved budget.  Build in the flexibility you need to make the best decision, and budget for no trade-in to increase your flexibility. More savings, less hassle.

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 understand what makes our data and technology better, and how EVMS can find you more savings than any other solution available.

Know the right price.

And get it.

Having the right information saves hospitals time and money on medical equipment lifecycle costs.

Matt Werder

Chief Technology Officer

Hennepin County Medical Center

“Miga’s data is key to helping us be good financial stewards and validates we are using our resources wisely. The market intelligence provided by Miga’s EVMS platform has allowed us to save substantial amounts of money.”

Matt Blashill

Enterprise Director of Supply Chain

Lake Region Healthcare

"There’s a personal touch that sets Miga apart from their competitors. They don’t just offer great insights. They always take the time to provide additional analysis that is meaningful and actionable."

Dan Bazinet

Director of Clinical Engineering

Southcoast Health

“In all my years in health care, I’ve used a lot of benchmarking tools. Most simply repeat information passed along from others; Miga’s information tells me what’s really happening.”


Community Hospital

"Miga's negotiating skills save us time and money. And their unique understanding of the market means we’re always playing from a position of strength."

Supply Chain Director

Regional Healthcare System

“All suppliers claim to have excellent customer service. Miga actually walks the talk and always has our best interest at heart. We love working with them."

"Miga’s ability to match equipment donated by their customers with the needs of our medical projects has been a most valuable and welcomed resource."

Jim Tierney


Suburban Radiology

“Miga’s data, analysis and expertise – in particular related to the fair market value of clinical equipment – is a critical resource we need to support strategic acquisitions, divestitures and joint ventures.”

Eric Hoag

Director, Corporate Strategy & Development

Allina Hospitals and Clinics

“Miga’s proprietary data and expertise was critical to our ability to close an acquisition deal quickly and with a high level of confidence in our valuation.”

Bill Barta

Corporate Director, System Imaging

Fairview Health Systems

“Miga’s objective information-based approach and understanding of the needs of hospitals makes them a valuable resource and helps us make the most cost effective spending decisions.”

Scott Bosch

Manager of Clinical Engineering

Park Nicollet Health Services

“The groups responsible for managing technology in our healthcare organization need data and analysis to manage costs and make informed decisions. Miga’s EVMS platform is an important and valuable resource that helps us make the right decisions for both our clinical priorities and budget.”