Experts project the global medical supplies sector to be worth $132 billion by 2022. Factors such as aging populations and advancements in equipment will drive this growth.
Price inflation also plays a huge role in the market value of medical equipment and supplies. In the US alone, their price indices in 2021 have risen by more than 20% from January 2004.
Fortunately, there are several ways to lower costs when purchasing such products. We rounded up some of the top buying tips and advice on medical supplies below, so be sure to read on.
Buy Them Online
Labor accounts for the largest expenses in any business, including the medical sector. For instance, staffing costs account for more than half of hospital operating expenditures. For this reason, many healthcare providers are adopting Tele health practices.
More medical suppliers have also gone online to lower their overhead costs. In doing so, they can reduce their staffing expenditures. As a result, they can offer their products to consumers at lower prices.
Ensure the Supplier Has FDA Registration
Most medical supply businesses must register with the US Food and Drug Administration. Those required to register must also renew their registrations each year. However, it’s vital to note that the FDA doesn’t issue certificates to these companies.
Instead, the FDA maintains a catalog of approved and cleared medical devices.
So, when choosing a supplier of medical supplies, always look up their FDA information. This way, you can be sure their products have obtained approval or clearance from the agency. The last thing you want is to believe you bought cheap items, only to end up with low-quality supplies.
Scour the Web for Deals and Discounts
Discounts on supplies you use frequently can save you hundred dollars each year. Some online medical suppliers also offer special deals to new customers. They also provide discounts or even free shipping deals to repeat buyers.
It’s also a good idea to sign up with reputable medical suppliers’ online newsletters. This way, you can stay up-to-date on deals and special offers that are coming soon. You can even snag a welcome bonus by simply signing up with their newsletters.
Order in Bulk
Gloves, cotton balls and swabs, and gauzes are some of the top-selling medical supplies. After all, they are crucial for almost every medical procedure, including injury treatments. Injuries, in turn, are common reasons for doctor visits; in the US alone, some 39.5 million cases occurred in 2016.
Incontinence supplies, such as adult diapers and pads, are also top-sellers. The same goes for diabetes supplies, including glucose test strips, meters, and syringes.
Most of these products have long shelf lives, so it’s fine to buy them in bulk. Doing so can also help you get them at lower prices, as most suppliers offer bulk buying discounts. Ordering them in one go can save you in delivery and shipping costs, too.
Start Your Search for Affordable Yet Quality Medical Supplies
As you can see, medical supplies don’t have to cost you an arm and a leg, so long as you get them from the right source. As such, be sure to follow our tips on choosing a reputable FDA-registered distributor. This way, you can save money and still be sure of the good quality of supplies you need to purchase.
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