As the healthcare industry evolves, medical facilities constantly seek new ways to increase efficiency and reduce costs. One area that often gets overlooked is the appraisal of medical equipment. The medical equipment appraisal process can be complex and confusing, especially for those who are unfamiliar with it. This lack of knowledge can lead to several myths and misconceptions about the process.
Here are some of the most common medical equipment appraisal myths:
Top 5 Medical Equipment Appraisal Myths
Myth 1: Only New Medical Equipment is Worth Appraising
This assumption is not true. Medical equipment can lose value over time, but it can still be worth appraising, even if it is older. The reason is that medical equipment is often expensive and specialized, and it may still have value to other buyers, even if it is no longer new.
Myth 2: Only Medical Equipment in Perfect Condition is Worth Appraising
This statement is also not true. Medical equipment in good condition may still be worth appraising, even if it has some minor wear and tear. More importantly, medical equipment is often durable and can be repaired or reconditioned.
Myth 3: Only Use Medical Equipment Appraisals For Insurance Purposes
While organizations often use medical equipment appraisals for insurance purposes, there are a variety of other reasons, such as:
- To determine the value of medical equipment for estate planning purposes
- To establish a fair purchase price for medical equipment
- To settle disputes over the value of medical equipment
Myth 4: Medical Equipment Appraisals Are Expensive
The cost of a medical equipment appraisal will vary depending on the equipment type and the appraisal’s complexity. However, there are some affordable medical equipment appraisal services available.
Myth 5: Anyone Can Appraise Medical Equipment
A qualified appraiser with experience appraising medical equipment should perform medical equipment appraisals. You need a qualified appraiser because medical equipment can be complex, and many factors can affect its value.
How to Choose a Medical Equipment Appraiser
When choosing a medical equipment appraiser, it is essential to consider the following factors:
- The appraiser’s experience appraising medical equipment
- The appraiser’s qualifications and credentials
- The appraiser’s fees
It is also important to get multiple quotes from different appraisers before choosing one. This due diligence will help ensure you get the best possible price for your appraisal.
Conclusion
In conclusion, medical equipment appraisals can be a valuable tool for buyers and sellers. By understanding the most common medical equipment appraisal myths, you can make informed decisions about the appraisal process.
Additionally, you could lose millions if you don’t have the right company appraising your medical equipment. If you are considering having your medical assets appraised, choose a qualified appraiser with experience appraising medical equipment.
ICS Asset Management Services, Inc. specializes in certified medical equipment appraisals. For example, we certify MRI and CAT scan Machines to Dental Chair Lights, Sterilizers, X-ray heads, and more. Most importantly, our appraisals are performed by an ASA-accredited appraiser and adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). For a personal consultation for your specific medical equipment appraisal concerns, contact ICS Asset Management Services, Inc. online or call 800-536-7376.
