When any surplus equipment is no longer needed, the healthcare facility has several options depending on the age and condition of the equipment; re-utilize it at another facility within the healthcare system, sell it, donate it or recycle it. Choosing the right asset disposition vendor to help remove your medical equipment is vital and should be determined by addressing four main factors.
Documentation and Liability
When choosing where the equipment will go, it is important to use a trusted vendor specializing in medical equipment. Liability is one reason facilities choose to throw away their equipment opposed to selling it. Unfortunately, when equipment is thrown into an e-waste bin or dumpster, the hospital staff usually has no idea where their equipment will end up. It is important to make sure the vendor you choose provides proper documentation and signed releases of liability for every medical device removed.
Compliance and Protection of Confidential Data
First and foremost, no hospital should allow equipment to leave the facility without wiping clean all confidential information. Unfortunately, things do get missed which this leads back to using a trusted vendor that specializes in medical equipment for all assets removed from hospitals to ensure all liabilities are eliminated. Verifying that the asset disposition vendor you use is HIPAA compliant ensures that patient data will remain confidential, removing any unnecessary liabilities. Also, ensure the vendor you use follows all state and federal regulation in regards to managing, reselling and recycling medical equipment.
Cost vs. Profit
Some hospitals pay to have their medical equipment removed but choosing the right asset disposition vendor can help you save and sometimes even make money on surplus or decommissioned medical equipment. Many asset disposition vendors will pay you for equipment with value but will make you pay for the removal of assets without value. Value of your medical equipment depends on age and condition of the equipment, market demand and if the device contains valuable components. Make sure to weigh your options on the cost vs. profit of all assets removed to determine what the best financial option for asset disposition is for your facility.
Mission and Environmental Impact
If environmental impact is important to the mission of your facility, determining you are using a vendor that follows strict recycling guidelines to ensure all assets removed are handled according to compliance standards is extremely important. If a piece of equipment is in such condition that it is unable to be resold, refurbished, or donated, then the equipment should be responsibly recycled so they can be reutilized and kept out of landfills.
ZRG Medical’s environmentally friendly and customer centered approach is the future of healthcare asset disposition and is continuously evolving to benefit the global economy. At ZRG, we realize that every healthcare facility does not have the same needs and priorities when it comes to removing their surplus assets. Because we specialize in the reselling, donation and recycling of surplus hospital assets, we can create tailored solutions for managing all surplus medical equipment within a hospital or healthcare facility that fits the needs of the customer.
ZRG Medical is licensed by the California State Board of Pharmacy to sell medical equipment and follows all state and federal regulations. Having been an R2 and RIOS certified recycler for several years, we follow strict recycling guidelines that ensure all assets removed are handled according to compliance standards, including HIPAA. Each piece of equipment removed is documented in ZRG’s customer portal and all confidential data and hospital identifiers are wiped clean to remove any liabilities and keep patient information secure. Depending on the condition, need and value, the equipment is then refurbished, resold, rented, donated, or broken down for parts and responsibly recycled. Through the online customer portal, customers can view all equipment removed from their facility and access all documentation with clarity and ease. Inventory lists, releases of liability, and certificates of recycling are at customers’ fingertips.
ZRG Medical never charges a fee to remove medical equipment from healthcare facilities and will purchase the equipment depending on the value and condition of the medical devices. It is our goal to ensure that every piece of medical equipment removed from healthcare facilities receives a second life for the benefit of earth and mankind alike.