Most hospitals are under increasing pressure in 2024 to stretch their capital equipment budgets to cover the higher costs of new medical, lab and IT equipment. In this environment, how can you really know if a supplier’s quote represents the best value? One often overlooked variable that will influence the net price is the trade-in. Here’s one easy way to make sure you don’t lose money (or miss out on savings) when buying new equipment.
Get quotes for new equipment WITHOUT any trade-in included. This is the best (and only) way to know with certainty the actual price you are being quoted for the new equipment. You can always ask your supplier to add the trade-in if and when you decide it is a good business decision.
A community hospital recently learned the value of a quote without a trade-in. The price they were quoted for new IV pumps included a trade-in credit of $500 for each pump being replaced. When the hospital insisted the supplier remove the trade-in from the quote, they were surprised to find the net purchase price did not change. Once the hospital discovered they could get the same deal without the trade-in, they sold the old pumps for an unexpected $88,000. This money was used to fund other critical needs that were on hold due to budget limitations.