Is renting refurbished medical equipment less expensive than purchasing it?

If a person is responsible for the entire cost of their durable medical equipment out of pocket, renting may be a more cost-effective alternative than buying the equipment. Unfortunately, a straightforward comparison of monthly rental costs vs. purchase price sometimes fails to consider all of the essential considerations that should be done while making this decision. Even though it is beyond the scope of this writing to offer a cost/benefit analysis for each form of durable medical equipment, including oxygen concentrators, karlz systems, medical monitors, cameras, stryker systems, endotrainers, etc. Still, we have highlighted the criteria that should be considered when deciding whether to purchase or rent a piece of durable medical equipment. Making a decision should be made easier if one applies the knowledge to his or her specific scenario.

Factors to Consider When Renting Medical Equipment 

1.    Time of Rental Duration

In most cases, the length of time for which the item would be rented is the single most significant consideration. If you work at a clinic that requires a tower for one particular surgery, then it makes no sense to buy the whole equipment. On the other hand, if you want to continue doing those types of surgeries in the future, very often then the question of ‘how often’ comes into play. We will discuss this in the next point, but what is important is to understand that if you need a certain piece for 2 months at length, it makes more sense to buy it considering the wear and tear the equipment faces at your end.  Hence knowing how long you will need the equipment is important and if you are confused about that, feel free to call us anytime just for a chat. 

2.    Resale Difficulty 

Another consideration, which is sometimes ignored when making a purchase, is how much of the purchase price may be recovered by the item’s resale once it has outlived its usefulness. Consider both the item’s monetary worth and the obstacles connected with its resale procedure, such as advertising and shipping, before making a decision. To determine the potential value of a resold item, one can go through the “completed listings” on Ebay.com or other DME classified advertising for things that are comparable in nature.

3.    Frequency of Service / Repair

Rental agreements for durable medical equipment typically include coverage for the costs of maintenance and repairs. In the case of DME purchases, the buyer is liable for these fees and charges. Take into account the maintenance schedule and the probability of needing to perform repairs. While a hospital bed requires little maintenance, motorized wheelchairs and electronic monitoring devices frequently need service and recalibration.

4.    Frequency and Method of Travel

Does the person who uses DME continue to reside in the same physical place during the whole year? Moving fragile or large DME by automobile is complex, and it is almost impossible to do it via air transport as well. Many rental firms will pick up and deliver things, and some have numerous sites around the country to suit those who travel or move frequently.

5.    High up-front costs compared to lower monthly costs

Even if one does not care about the broader topic of whether the technique is less expensive, one’s financial circumstances should be considered. What is your opinion on the manageability of the higher upfront expenses involved with acquiring durable refurbished medical devices/equipment? Also, consider whether the individual has a fixed income, which would result in a smaller monthly payment.

Addler provides a certain set of equipment for rentals in addition to purchasing. The choice is based on the length of time that the item will be required, the cost of the item, and the frequency with which it will be serviced. Depending on the city it is required in, hospitals are supposed to notify Addler in advance of their requirements. They get ready to use equipment, with our technicians 3 hours prior to surgery!