Do you know your options for your hospital to improve financial budgets 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. Our customers often returning thousands to the bottom line.

Our process also ensures equipment finds the best end point for its useful life. That may be another in-network facility, a medical center outside your system, a refurbisher, or donation/scrap removal.

We’ll help walk you through the following steps, with custom technology built to support each option along the way.

BidMed's asset disposition decision workflow to improve hospital financial budgets.

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Leverage Valuation & Trade Comparisons to Improve Financial Budgets

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.

BidMed’s fair market value database is our proprietary collection of actual sale prices for secondary market medical equipment. We regularly collect thousands of data points from transactions happening all around the United States.

Our specialists give a true representation of what equipment is worth in resale compared to trade-in offers. This comparison empowers customers to make better choices and improve capital budgets. We use a two-pronged approach that blends historical data and current market trends. Requesting fair market value reports is easy through Workflow+.

Is your trade-in value the best option? If not, consider whether you can reallocate the asset to another facility in your network, retaining capital value within your system.

Reallocate Assets on the Private Exchange

All Workflow+ subscribers have access to reallocate assets within their hospital system. This allows member facilities to view a private list of equipment available for transfer. Internal transfers ensure value remains within your system, benefitting the bottom line of capital budgets even more than resale.

Upgraded subscriptions also allows members to access extended tiers of the Private Exchange. Here we aggregate retiring equipment with retained useful life between diverse health systems and medical facilities. This optimizes useful life for assets across the board and minimizes lost value from equipment flippers. Sellers improve hospital financial returns, and buyers save money purchasing directly from another hospital.

Users can easily push assets from their Workflow+ inventory list to the Private Exchange. If assets aren’t requested in a set timeframe, listings are easily re-published or made available to other facilities in the network. 

Donate, Scrap, or Recycle Unsellable Materials

If a healthcare facility wants to donate assets, BidMed can provide certified appraisals, which are useful for tax write-off savings. Assets that cannot be donated should either be scrapped or recycled. BidMed can advise facilities on the best options for this type of removal.

Want help choosing the best disposition options for you?

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