The process of refurbishing old equipment allows for its return to original state or even better. There are major social and environmental advantages to this kind of effort. In countries where such contemporary technology is handled in accordance with a generally accepted framework, the sector that may develop around mending outdated medical equipment produces a robust and sustainable economy in addition to the significant environmental advantages.
The COVID-19 pandemic’s increasing need for higher device inventories, along with the rapidly expanding healthcare sector, is driving growth in the reconditioned medical equipment market. Refurbished goods are predicted to reach $718.92 billion by 2029, growing at a 5.5% CAGR from its estimated $495.46 billion in 2022.
Understandably, many hospital equipment managers still have some scepticism when they hear the phrase “refurbished.” Does a “never buy refurbished” rule, however, actually result in safer patients? Can hospitals genuinely rely on reconditioned medical equipment to provide top-notch care?
Refurbished equipment may consistently deliver safe, effective clinical treatment, just like new equipment. This should reassure hesitant purchasers. Refurbished asset purchases free up funds that financially stressed and budget-conscious hospitals can use to address other urgent issues like staffing shortages and low medicine and supply stocks.
Buyers who are hesitant should realise that refurbished equipment may perform clinical treatment as safely and effectively as new equipment. By purchasing refurbished equipment, hospitals who are constrained for funds can divert that money towards other pressing issues like staffing shortages and depleted medicine and supply stockpiles.
What distinguishes refurbished from used goods?
Refurbished and second-hand goods are similar in that they have both been used rather than purchased brand-new. But compared to second-hand products, refurbished items undergo inspections and overhauls. Refurbished products go through a rigorous quality and functionality testing process, and any necessary part replacements or repairs are made. After that, the data is erased and the device is sanitised.
New accessories are frequently included as well, but the warranty is what makes the biggest difference. Because they haven’t been inspected and the vendor can’t take the chance of providing a lengthy warranty, second-hand goods are typically sold with little or no guarantee at all. Additionally, end users frequently sell used devices on websites like eBay. Frequently, refurbished goods come with a minimum three-month guarantee.
Cost-effectiveness
Refurbished equipment can save medical equipment expenses by 20–30%, according to some estimates. Decision-makers who are under pressure from tight capital budgets will find that quite alluring. But a cheaper price tag on reconditioned equipment doesn’t always translate into financial savings over brand-new models.
A number of variables affect the acquisition’s overall cost, including:
- Vendor reliability
- Equipment model
- Equipment age
- Restoration procedure
- Verification testing’s rigour
To compare the costs of new and refurbished assets in a meaningful way, buyers must carefully consider each of these.
Quality
Testing for quality control carried out throughout production guarantees that every new gadget is constructed in accordance with the specifications set forth when the FDA first approved the product design for sale.
Refurbished devices need to undergo the same QA testing as new equipment in order to satisfy original specifications. The quality of a refurbished equipment is closely linked to the restoration procedure, which might involve:
- thorough disinfection and cleaning
- Condition assessment to find defective parts
- repairs and/or replacement of parts
- Tests for functionality
- cosmetic renovation (new paint, component appearance restoration)
Safety
Products that are refurbishable and have strong quality assurance adhere to the same safety standards as new gadgets. Furthermore, the advantage of prior use in the field is absent from recently released designs. It’s possible that production problems or design defects went undetected. Due to their longer usage histories, older refurbished models allow the buyer to evaluate any prior problems or recalls related to the product.
Warranties
Although many used items have warranties, these might not be as extensive or long-lasting as those on new equipment. As part of the assessment process, buyers should not be afraid to evaluate the warranty conditions for new and refurbished products side by side.
Conclusion
The decision between new and refurbished biological assets ultimately boils down to the particular requirements of the healthcare facility. Purchasing used equipment may save tens of thousands of dollars, improve clinical results, and raise the technological profile of the company when done carefully. Above all, collaborating with a certified supplier can help improve patient safety and the standard of treatment provided.