If you’re facing a hospital liquidation, you may be feeling overwhelmed by the complexity of the process. But hospital liquidation projects don’t have to be a hassle. In fact, with the right team on your side, you can successfully complete the process with minimal stress.
Let’s look at how hospital liquidation projects work. There are three key stages, including inventory and planning, auction execution, and closeout and equipment removal. Our team of experts will guide you through each step of the process. We’ll make sure that all equipment is recorded and sold at the best prices possible.
1. Inventory & Planning for Hospital Liquidation Projects
The first key stage of any hospital liquidation is inventory and planning. This stage is critical to ensure all assets are accounted for and a comprehensive understanding of equipment available is established.
Upload an Initial Equipment List
Even if your equipment ledger is incomplete or out of date, uploading an initial list is essential. This list helps expedite inventory by matching details on known assets, as well as support preliminary marketing efforts.
Create Tailored Settings
When setting up your project, our developers can create tailored settings. This includes autocomplete libraries, as well as establishing tiered user access and permissions.
Optimize Team Integration
While we handle the bulk of the project, it’s still essential for us to integrate with other teams. This ensures access to essential locations and helps coordinate various crews to avoid conflicts and overlap.
Process Inventory
Our team will gather and consolidate equipment for faster processing. We add barcodes and scan all items, recording details such as manufacturer, model, condition, and accessories. We also take necessary photographs to help items sell better. During this process, we also wipe down equipment and keep an eye out for potential logistical hurdles during equipment removal.
Complete a Secondary Sweep
To make sure we don’t miss any assets, we also include a secondary site sweep. This ensures all equipment is counted and ready for sale.
2. Auction Setup & Execution for Hospital Liquidations
Once we have a complete picture of all equipment available, we get everything ready to move. Our expertise and custom auction platform ensures the whole process fits your precise needs.
Assess Data & Prep for Auction
After all assets are accounted for, we clean the data list. With complete equipment data, we then group equipment lots and tailor our system to your specific needs. Creating lots of similar items helps lower-valued assets sell, optimizing returns beyond just capital equipment.
Set Up Transfer System (optional)
Larger health systems often include an internal transfer step prior to the auction. This allows sister facilities to request equipment first, retaining even more value within the network.
Set Reserves & Starting Bids
Setting the right prices is essential to optimize returns in an auction. Starting bids that are too high may discourage buyers. Reserves that are too low may leave money on the table for sellers. Our team’s experience with secondary market medical equipment helps us strike the right balance.
Market the Auction
Our buyer network and reputation in the industry help us connect with the right buyers for your auction. Years of experience conducting auctions also means we know what channels to market to and when. We’ll market the sale through Google Ads, on our website and social channels, and with tailored email campaigns to our qualified buyer list.
3. Closeout & Equipment Removal for Hospital Liquidation Projects
We are here to help you throughout the closeout process. This includes reducing friction in payment processing and providing support for shipping and removal logistics.
Auction Closeout
Once the bidding window is closed, we invoice and process all payments from buyers. Then we prepare for the equipment removal process.
Equipment Removal & Distribution
Our expert teams oversee equipment removal and supervise pickup logistics. We can also make recommendations for shipping companies and other logistics partners to move equipment to the buyer.
Because of our experience with hospital liquidation projects, we’re able to foresee potential hurdles, addressing such challenges before they come up.
Final Processing
Once equipment has been disbursed, we complete all final processing. We typically deliver final payments and reports in about a week.
Hospital Liquidation Projects Don’t Have to Be a Headache
In the end, hospital liquidation projects require careful planning and execution to ensure all equipment is sold at optimal prices. Our team of experts can help manage the entire process, from assessing inventory to auction setup, closeout, and equipment removal.
With our custom software, expertise, and connections in the secondary market, you’re sure to return the most value, without all the headaches.