3 Tips for Building a Solid Medical Equipment Purchasing Plan in Clearwater FL

Authored By: FiCare FCU on 12/14/2023

Between 2017 and 2021, the cost of medical equipment and supplies has increased by around 6% each year

This can make it hard for medical facilities to purchase the best equipment and provide high-quality care. Clearwater, FL, has numerous healthcare institutions. As a medical facility, you need to have the right purchasing plan to ensure you can compete. 

Whether you’re managing a hospital or clinic, you can benefit from the information below. We’re going to discuss everything you need to know about creating a medical equipment purchasing plan.

1. Conduct a Comprehensive Assessment  

The first thing you’ll want to do is assess your needs and requirements. This should be thorough as it’s an essential part of the process. 

You’ll need to consider your existing equipment and its condition. Is it functional? Do you need repairs or a replacement? 

Through this search, you should be able to identify gaps and areas that need improvement. Take the time to talk to your staff and understand their needs and preferences.

They’ll provide you with insight that you won’t have direct access to. They are using the medical equipment every day so they’ll know which equipment is good and which pieces need upgrades. 

You should also spend time learning and researching the latest advancements. The medical technology industry is constantly changing, as well as the industry standards. 

The information that you gather will help you make a decision about which types of medical equipment are worth the investment. 

This assessment will be a baseline that you can refer back to when you’re making your purchases. The more compressive it is, the better. 

2. Establish a Budget 

Once you know what your needs are, you can take the next step. Creating a budget is not the most exciting task, but it’ll help guide your decision as well. 

Be sure you’re realistic when setting your budget. You’ll need to consider all aspects. If you miss a fee or charge, you may find yourself over budget, which could be detrimental to your company. 

The first thing you need to budget for is urgent matters. If a piece of equipment that gets used every day breaks, you’ll need to invest in a new one first.

Prioritize spending based on priority. You should also evaluate the potential return on investment for each medical equipment. 

3. Collaborate With Suppliers

For the best deal possible, you’ll want to collaborate with suppliers. Manufacturing a medical device is expensive, but if you’re purchasing in bulk or creating a partnership, you may be able to get a discounted medical supply. You should also learn negotiating skills as you may be able to get a better deal or payment terms. 

Communicate regularly with suppliers and ask questions such as, “What is medical equipment?” and “What is the warranty on medical supplies?”. This will give you insight and help you make your plan. 

Securing Deals on Medical Equipment in Clearwater, FL

Building a medical equipment purchase plan in Clearwater, FL, requires your full attention and consideration. You need to spend time crafting a plan that is best for you and your facility. 

Here at FiCare Federal Credit Union, we help our members with financial services. We’ve been in business since 1960 and are here for you. 

Get in touch with us today for all your financial healthcare needs. 

« Return to "Blog" Go to main navigation