News & Expert Insights
Find tips and tricks for increased savings with certified pre-owned purchasing, or maximizing returns with strategic disposition.
How Hospital Liquidation Projects Work
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...
What do inventory reconciliation projects involve?
Inventory reconciliation projects involve validating a facility’s physical inventory against its records. It ensures a facility’s records accurately reflect actual inventory, removing phantom assets and adding equipment not recorded at acquisition. Assessments can...
Improve Hospital Budgets with Medical Equipment Transfers
The healthcare industry wastes about $700 billion in expenses every year, according to a 2009 Thomson Reuters report. And with nearly 20% of US hospitals in danger of closing due to financial concerns, cost-cutting solutions have become crucial. Leveraging internal...
How Well Does Your Hospital Communicate Between Departments?
One common failure we see for maintaining accurate inventory is a breakdown in how teams at your hospital communicate between departments. Many health systems have separate biomed and financial ledgers. These records frequently don’t match, nor have common unique IDs...
4 Dangers of an Inaccurate Inventory List
Capital inventory accuracy is important for more reasons than just effective patient care. An inaccurate inventory list can leave your hospital open to audit complications. It also creates failures in operational efficiency and future equipment planning. Plus, removed...
All-In-One Inventory Accuracy Software Suite
The most common pitfall of hospital networks’ inventory management systems is a breakdown during asset lifecycle workflows. But with the right inventory accuracy software, these pitfalls can become a thing of the past. One common pitfall is failure to add complete...
3 Reasons Having Accurate Medical Inventory Is So Important
Keeping hospital operating costs down can be a struggle. According to Becker’s CFO Report, hospitals’ medical equipment lifecycle (MELC) costs average $93 billion a year. Of these costs, up to 16% are lost due to inaccurate information and lack of resources. One...
How to Buy Quality Used Medical Equipment
For years, hospitals and other medical facilities have shied away from secondary market savings. And it made sense — how do you find quality used medical equipment that you know actually works and meets patient care standards? But “used” doesn't have to be a dirty...
Improve Hospital Financial Budgets with Asset Disposition
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...
Why Fair Market Value is Important for Capital Planning
Buying and selling used medical equipment can significantly improve hospitals' capital planning budgets. To do it well requires understanding fair market value for assets. But what exactly does that mean and why is it important? What is Fair Market Value (FMV)? Fair...