Pricing and Costs of Maintenance and Repair of Medical Devices

By Carol Francois, writer
Feb 17, 2011
Image Credit: Monkeybusinessimages / Getty Images

Learn about pricing and costs of maintenance and repair of medical devices

Learn more about the pricing and costs of maintenance and repair of medical devices. This type of equipment represents a significant asset and a large financial investment. The proper maintenance and care increases the useful life and reduces the annual cost of the equipment. The cost of the maintenance must be considered as part of the decision making process for maintenance on medical equipment.

Expand your knowledge about the maintenance costs of medical devices and equipment in order to improve the purchasing decision. The more information you have about current and future costs, the better decision can be made. Follow the three steps below to learn more about pricing and costs of medical equipment repair.

1. Learn about medical equipment repair companies.

2. Investigate service contracts for medical equipment repair.

3. Look into medical device repair usage.

Explore medical equipment repair companies

Investigate the costs involved in medical device repair in a systematic way. Make a list of all the equipment that you have, the year it was made, the purchase price and the estimated years of service expected from the equipment. Divide the purchase cost by the total number of serviceable years to arrive at the annual depreciation value. Determine a reasonable percentage of this value as your medical device repair budget.

Look into service contract for medical device repair

Research the cost of a service contract or health equipment repair when purchasing new equipment. A flat rate is charged for an annual service contract. A service contract on new medical device equipment ranges from $ 3,000 to $10,000 per year, depending on the equipment.

Investigate medical device repair based on usage

Analyze the projected usage of the hospital equipment repair and determine peak demand. Calculate the total cost of lost revenue and productivity incurred when the medical equipment is not available, due to repair or breakdown. Obtain pricing for an after hours service plan of medical device maintenance. The average hourly rate should be between $55 and $75 per hour.
  • Medical device equipment service life can be extended through careful maintenance, or shortened through carelessness and lack of attention to details. Educate your technicians on the cost of the machine and of the issues surrounding maintenance and repair.
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