If you have a piece of equipment that has broken down and is out-of-warranty, you may be wondering if it’s worth fixing or if a replacement is a better option. Like most of us, your tendency might be to keep repairing it for much longer than you should. This can end up costing you a lot of time and money in the long run. But how do you determine if you should repair or replace medical equipment?
The No.1 ‘Rule of Thumb’ to repair or replace medical equipment
Based on industry standards, the decision to replace or repair medical equipment is based on a few factors. Firstly, take into consideration the cost of the repair, compared to the cost of replacement, along with the age of the equipment itself.
Generally, if the cost of the repair is less than 50% of the cost for replacement. In addition, if the equipment life-cycle expiration is less than 50% of its expected life-cycle, the equipment can be repaired.
Take this example of a mobile hoist:
12 Top Considerations
However, there are other factors that need to be taken into consideration and the decision must be made on a case-by-case basis including, but not limited to:
- The equipment’s service history
- Performance and reliability
- Overall condition (Hoist use is a big factor as the more use it receives, the quicker it will deteriorate)
- Functional importance
- Any critical risk the equipment may cause if out-of-use, repaired, or replaced
- Likely ongoing operating costs
- Impact on productivity and/or quality
- Cost of unscheduled downtime, including collateral costs (health, safety, environmental, etc.)
- Decommissioning and/or disposal costs
- Associated cost to research and purchase a replacement
- The capital cost of the replacement equipment
- Any training costs on replacement equipment
The decision to repair or replace is not always straightforward. However, by working alongside a qualified expert, it is possible to make an informed decision.
Remember, the best decision on whether to repair or replace can only be reached by evaluating the equipment in the broadest possible terms. By taking a long-term view, you are well placed to make a good decision in terms of cost, performance, and sustainability.
Looking for a maintenance program that takes great care of your patient handling equipment? Or needing to acquire new equipment? Get in contact with us today.