5 Steps to Take Before Signing a Medical Equipment Purchase Agreement

Signing any contract or purchase agreement can be intimidating. Business professionals know not to enter into a contract lightly, understanding that a business must first evaluate many factors. Purchase agreements are contracts for goods or services that can be immensely valuable when done correctly, and highly detrimental when done without the proper preparation.

For these reasons, there are a number of steps that must first be taken before entering into any purchase agreement, and that's true for medical equipment too.

1. Identify the equipment you will need. What are you trying to order? Have you gone over the functional differences between various brands and models of the equipment you are wanting to purchase? Are there newer models that might suit your needs better?
2. Define the services you require. Before signing an agreement, you should identify the particular services that you will require. What is the date it is needed? Will you require staff training? What about periodic calibration and maintenance services? What about the warranty period and covered repairs? How much volume of supportive supplies will the seller provide?
3. Discuss delivery options. Equipment delivery can be disruptive to a practice if not properly planned. Discuss delivery options including scheduling, setup, trash disposal and inventory management before signing an agreement. Large equipment can block patient access, and in some cases may not even fit through doorways. Will partial disassembly and reassembly be required to get it to its end point of use?
4. Discuss additional costs. Consult with your medical equipment company to discuss delivery and other added costs and services up front. Are there licensing costs? Think about operational costs as well as acquisition costs.
5. Seek legal advice. It is important to read the fine print before signing any contract. Make sure to understand all services and limitations before signing. Consult with your legal team if needed.

Concordance Healthcare Solutions can provide purchase agreement assistance from beginning to end, which is critical when choosing the right medical equipment provider. Our experts can provide detailed advice on the specific equipment items you need to help you make the most informed decisions. They can also help to identify and define needed services and supportive supplies; work with you regarding the most appropriate delivery options and get the best value for your purchase dollar.

Contact us today to explore your most cost-effective equipment purchase option.