Running a hospital comes with its share of challenges. As a manager, you want to get the best deal on medical equipment and supplies. This aspect alone can be nerve-wracking.

About 17% of hospital expenses go toward medical supplies. Not to mention the price of medical equipment, which can run into five figures.

Interested to find out more? Here’s where to find hospital equipment at affordable rates and how to further bring down the costs!

Compare Different Brands

The global hospital equipment and supplies market is expected to reach $84.6 billion over the next seven years. Manufacturers are competing to introduce the latest technologies and offer the best combination of quality and price.

If you’ve been working with the same suppliers for years, consider switching things up. Look up other manufacturers and distributors, request multiple quotes, and try to get a good deal.

Consider purchasing hospital supplies from a lesser-known brand. Some may even offer products of much higher quality than the bigger brands.

Time Your Purchase Right

Like most products, medical equipment and supplies vary in price from season to season. The cost typically goes down at the end of the year or quarter and before holidays.

For example, you may reach out to a suppler at the beginning of December when they are clearing out their inventory to bring new products.

Likewise, you can get in touch with suppliers at the end of March when they are trying to hit quarterly sales.

Cut out the Middleman

Another way to make savings is to cut out the middleman. Consider purchasing hospital supplies online or join group purchasing organizations.

If, say, you’re planning to buy an auto-defrost freezer for vaccines, look for suppliers that sell these products online. Use this helpful guide as a starting point.

Chances are, you’ll get a better price than you’d normally pay in brick-and-mortar stores.

Attend Medical Trade Shows

Trade shows specials could help you save thousands of dollars on medical supplies. Most exhibitors who attend these events offer special packages and discounts that may not be available anywhere else.

For further savings, try to get there on the last day of the event. Don’t hesitate to negotiate a better deal.

If you find a quality product, consider buying in bulk to lower the costs.

Get the Best Deal on Hospital Equipment and Supplies

Saving money on hospital equipment and supplies doesn’t have to be difficult. Like with most products, it takes some research to find a good deal on whatever you need.

Online suppliers are your best bet. By purchasing over the Internet, you’ll cut out the middleman and keep more money in your pocket. Also, consider switching brands or reach out to a different supplier if you’re paying too much.

In the meantime, browse the rest of our blog for other tips! We’ll show you how to mitigate spend risk in healthcare, reduce hospital supply waste, and more.

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