is it legal to sell used medical equipment

Discuss the reason for their suspension of your account. Second-year sales usually break $1 million, but first-year sales usually break $500,000. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. The 44095 Pipeline Plz. 55 percent cost-of-goods sold equates to 45 percent gross profit margin for retail H ME businesses. Be sure that you wont need the item again. The easiest way to sell your used home medical equipment is online. Extra vendor qualification forms may include a statement of hospital-specific standards vendors are expected to meet. Items used in the treatments of patients such as medical devices, as defined by the Food and Drug Administration; Direct Medical (diagnostic or treatment) Systems, Equipment or Devices Forming an LLC or C-Corp doesnt necessarily mean you can legally operate, just that the state knows you existyou must get your licenses or permits secured before beginning. After you must have established what your business is and how it operates, the only thing left to do is execute your business and marketing plan. For example, suppose you are re-selling a hospital bed. The FDA monitors the ongoing safety and efficacy of regulated marketed products through MedWatch, the FDA`s safety information and adverse event reporting program. Is CPAP Considered Durable Medical Equipment? The North American healthcare market is full of network hierarchies, affiliations, and rules that can be difficult to navigate. Other types of medical equipment, such as commode chairs or wheelchairs, are only useful for a specific type of diagnosis; therefore, the pool of buyers might be more limited. Start here and build outwards during the sales process. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Medical device sales are lucrative, even though compensation can vary widely. 5. Starting a conversation with the seller about the item can allow you to feel more comfortable about buying used medical equipment online and ensure you know exactly what you are buying from the seller. If the device has helped you or your loved one improve their quality of life, it will certainly help someone else as well. This cookie is set by GDPR Cookie Consent plugin. Now that you need to figure out what your business is and how it works, all you have to do is execute your business and marketing plan. You will have to fill out a qualification form available at each individual hospital or on their website. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This website uses cookies to improve your experience while you navigate through the website. The requirements for exporting medical devices depend on the marketing status of the device. Use good lighting to it is easy to view the equipment and use a high resolution for the images so they will look good in your online advertisements. Other types of medical equipment, such as commode chairs or wheelchairs, are only useful for a specific type of diagnosis; therefore, the pool of buyers might be more limited. Before a device can be sold in the US, it must be approved by the FDA. Should You Consider Renting Medical Supplies? Were here to support you as you embark on your road to home medical care. Cons: Small audience, have to arrange a place to exchange, Pros: Local sales, no shipping, verify buyers and sellers via Facebook profile, Cons: Smaller audience, Facebook has stricter policies than eBay and craigslist. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. eBay and craigslist are the best options available for selling used medical equipment. Things like beds, walkers, and sticks are easy to sell because they are often adjustable and the chances of meeting the needs of the new buyer are high. Refurbished medical equipment is also convenient for lower price ranges as these companies work hard to refresh the products and make them like new. What is it like to be a medical device sales rep? Are their terms and business details clear? Delivery systems: Will their delivery systems make it easier to run your business or are they complicated and difficult to manage. What is the difference between medical devices and medical equipment? Read on to answer the question, Can You Resell Home Medical Equipment? {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/1\/14\/Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg\/v4-460px-Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg","bigUrl":"\/images\/thumb\/1\/14\/Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg\/aid1204253-v4-728px-Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"

\u00a9 2023 wikiHow, Inc. All rights reserved. Many medical facilities will advertise their used equipment online on sites that sell medical equipment. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. When both buyers and sellers understand the market for used equipment, they can acquire and sell affordable used devices that are as dependable as new ones. However, its important for both buyers and sellers to be aware of how to ensure the best results for everyone involved in a transaction. This blog does not provide medical advice. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. Create wholesale accounts with distributors of medical equipment suitable for hospitals and medical centers buying wholesale is necessary to make a profit. Why Would a Medical Supply Company Need a Patients SSN? There are a few things that should be kept in mind. Develop the tech skills you need for work and life. Used medical equipment sells for less because most manufacturer warranties become void if the product changes hands after the initial purchase. Heres a quick list of what percentage of the original price specific used equipment generally sells for online: These are ballpark figures based on craigslist and eBay listings. FDA Center for Devices and Radiological Health (CDRH) approval is required for the export of any type of medical device to the United States. Look for problems like marks, scratches, or breaks, or ask the seller directly if theres any damage. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. The newest technology is usually replaced by sellers. How Do You Know Home Medical Equipment Is Certified. Note that by listening attentively, you will show that you are interested in working together in a mutually beneficial way. Acrannolife However, to be very successful in this line of business, it takes more than just building strong relationships with the surgeons. Public Law 101-629, Safe Medical Devices Act of 1990; 21CFR 803, Medical Device Reporting), industry standards (e.g. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\n<\/p><\/div>"}, Legal Ways to Minimize or Avoid Import Duties. It is possible for profits to be made. Were doing our best to get things working smoothly! Unless you plan to manufacture medical supplies for yourself, you will need to find a manufacturer or distributor from whom you can purchase your supplies. Your used medical is usually worth quite a fair amount! Wheelchairs and other large pieces of equipment are expensiveyou dont want to be forced into another purchase because you gave away an old transport chair. It is often possible to take such medical devices such as wheelchairs and walkers from places such as the American Red Cross, Goodwill, and the Salvation Army. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. The cookie is used to store the user consent for the cookies in the category "Other. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. When you work with us, its a win-win Create wholesale accounts with distributors of medical equipment suitable for hospitals and medical centers buying wholesale is necessary to make a profit. If you cant find a local spot to donate your used medical equipment, try one of these: If you have childrens equipment, contact a local elementary school or district office. However, when it comes to high-quality medical equipment in excellent condition, finding a buyer actually isnt that difficult. Distributors can be found online, in phone books, and in business directories. Whether youre buying or selling used medical equipment, its important that the equipment isnt damaged. One of the lowest base salaries in the category is $95,748. Its equivalent to $790 per week or $3,443 per month. A few funding options include: Have it in mind that the viability of these medical supply financing options will vary depending on your business size and start-up costs and, each option also has its own benefits and drawbacks. It does not store any personal data. American National Standards Institute Whether you are licensed or not, you can only sell to prescription people or to a licensed healthcare professional or home medical device provider. Are you an ex-doctor or medical professional with real-life medical experience? Drop shipping items to medical professionals is possible. Can I sell an oxygen concentrator on eBay? Note that you also need to use this time to develop marketing materials and start reaching out to potential clients. Where Do Medical Supply Stores Get Their Inventory in 2023? Furthermore, JCAHO offers best practices for hospitals on its website. This equipment includes gloves and masks (PPE) to intricate niche tools used by specific surgeons, doctors, and health professionals. Note that fees will vary from state to state and may be based on annual revenue. With an ever-changing complex healthcare system, you have to be able to adapt your selling strategies to meet the demands of multiple stakeholders.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'profitableventure_com-medrectangle-4','ezslot_3',127,'0','0'])};__ez_fad_position('div-gpt-ad-profitableventure_com-medrectangle-4-0'); Note that to sell to hospitals, it is necessary to become a qualified vendor, evaluate the hospitals needs, and sell to hospital administration. Your industry may need different marketing methods, so be sure to do your market research first. The server is misbehaving. The images should only show the equipment and no other clutter or items, especially if the other items are not for sale. Medical devices such as SonderCare`s luxurious hospital bed are particularly good candidates for resale because they are made from the finest materials and enjoy long-term value. Class I medical devices are low-risk and are subject to less regulation. If you are set on donating it, tell the agency what needs to be repairedthey may be able to take the item. This cookie is set by GDPR Cookie Consent plugin. Thats considered drug dealing, a crime that could result in lengthy jail time, depending on the jurisdiction and classification of the drug in question. Change.org Uh oh. Whatever option you choose, keep the buyer in mind, and how you can make a difference in their lives. Gumbo Medical LLC. You should also contact the seller directly through the contact info provided and ask for more detail on the equipment to determine its condition and if it is what youre looking for. The use of these medical products is not safe except when used under the supervision of a medical practitioner licensed by law to oversee their use. Be sure to send the facilities photographs and descriptions of each item or piece of equipment so they have a good sense of the condition of the equipment. These are large-scale manufacturers who produce millions of supplies each year who then sell to distributors like yourself so you can market and sell the wares on a smaller scale. is it legal to sell used medical equipment July 7, 2022 Uncategorized BY . It is possible for top representatives to make $400K+ on a good year. Administrators may be more comfortable talking in person, on the phone, or via e-mail. You may want to have someone use the equipment as you photograph it so you can show that the equipment is in good working condition. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. You should always contact your doctor or other qualified healthcare professional before starting, changing, or stopping any kind of health treatment. We can give you an estimated dollar value of your working equipment or provide repair estimates on broken equipment. Working in a Call Center of a Medical Supply Company. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. Medical Equipment & Supplies Physicians & Surgeons Equipment & Supplies. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This article has been viewed 130,638 times. Pharmacy Code CA 4022 Whether or not you need a license to sell it depends on state law. Our goal is to make equipment disposal, recycling, or resale simple and convenient for you. Future innovation: Does your supplier have plans to grow and innovate in the coming years, ensuring that you stay relevant as a business as well? However, find the head of different departments to ask them about their needs within the hospital. We also use third-party cookies that help us analyze and understand how you use this website. This may include product regulations as well as product standards required from vendors. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. There are many online sites that sell used medical equipment at competitive prices, from general online selling sites like ebay.com or craigslist.com to more specific sites that sell used medical equipment, such as medibid.com, www.dotmed.com, shoprem-com.3dcartstores.com or dremed.com. This may save your damaged medical equipment from the charity shop or the dump and allow you to still turn a small profit from the equipment. Browse our latest resources below and let us know if you have any questions. Working in a Call Center of a Medical Supply Company. These cookies ensure basic functionalities and security features of the website, anonymously. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. This cookie is set by GDPR Cookie Consent plugin. We always pay your facility upfront for its used equipment and then have it removed at no cost to you. Some medical devices can only be sold with government authorization. Give the bed to an international agency helping people in need, hospitals and other medicalcenters. Note that you can find manuals on the standards for different units, wards, and types of hospitals on their website. eBay does not allow the sale of medical devices that require a prescription. Home use devices can be purchased by patients who have a prescription. You should listen to them about their needs before starting your own sales pitch. Once you have received payment, we will then coordinate a pick-up day that works around your schedule. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. We develop diagnostic technologies with a wide array of applications with a focus on developing low cost diagnostic tools that can be implemented in large scale with minimal infrastructure. Decide whether you want to function as a Limited Liability Corporation (LLC), C-Corporation, or S-Corporation. You may also want to talk to prominent doctors in the hospital, especially if it is a hospital with a specific medical focus. Hospitals are major employers and consumers of a variety of goods and services. The last thing you want to do is get rid of an item that you may need. Selling most medical equipment for a price close to what you paid is nearly impossible, so set your prices accordingly. You should take pictures of any damages on the equipment so you can be completely honest and forthcoming in the ads for the equipment. Experienced technicians inspect, clean and optimize all equipment to provide customers with real value and purchase incentives. Repair & Restoration Of Medical Equipment. Just send us any pertinent information you may have that will assist us in making a fair market determination for the equipment (like pictures, for example). If this is the case, then you can sell used medical equipment near me and recoup some of the costs that went into its investment. When photographing the equipment, its important that you also note any damages or issues with the equipment in the advertisement. In California, the average annual pay for the Selling Medical Supplies jobs category is over forty thousand dollars. Sell Used The surgical suite, medical facility, and clinical office may be updated. Before pitching your own products, state back to them what you understand as their needs. Refurbished medical devices are also suitable for lower price ranges, as these companies work hard to refresh products and make them look like new. Have it in mind that you will need to know how to reach staff at all levels of the hospital operation. Or, if your bed features assist rails, you can promote it for patients who are at risk of falling. How profitable is medical supply business? The cookies is used to store the user consent for the cookies in the category "Necessary". Our trained team of editors and researchers validate articles for accuracy and comprehensiveness. In the United States, it is very crucial to be able to prove compliance with regulations or other quality control for goods and services. What Used Medical Supplies Will Medical Supply Stores Buy? wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. Some of them even upgrade and clean all their purchased equipment, ensuring that they can offer a renewed guarantee for purchasers. Note that phoning the hospital administrator directly may not be the best idea. If YES, here are 10 strategies to sell medical equipment to hospitals in 2023. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page. The FTC is responsible for regulating the advertising of many medical devices under sections 12-15 of the FTC Act, which prohibit false or misleading advertising of certain How to Sell Your Used Medical Equipment Online Medical equipment is expensive. Last Updated: October 25, 2022 % of people told us that this article helped them. Churches may be a good choice as well. For example, you dont have to share your profits or make interest payments by bootstrapping, but that may not be an option if you dont have access to start-up capital.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'profitableventure_com-large-mobile-banner-1','ezslot_10',130,'0','0'])};__ez_fad_position('div-gpt-ad-profitableventure_com-large-mobile-banner-1-0'); Note that the foundation of your supply business will be working closely with medical distributors and vendors. Photograph the equipment against a solid white background so it is easy to see the equipment in the images. The device is expected then to be classified according to CDRH rules. Between the 10th and 12th month is when new retail H MEs break even. However, you may visit "Cookie Settings" to provide a controlled consent. There is a medical supplies niche that is widespread. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. Post an ad online or take the equipment to a medical resale shop. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. 10 Skills Needed to Work in a Medical Supply Warehouse. However, depending on the region, you may have to set up a formal appointment to talk to the hospital staff. 88 West Gartner Road,Naperville,ILU.S.A.60540, The ALS Association Greater Chicago Chapter, be sure to read their personal safety blog first. Investors: With an investor, you will work with private entities to receive funds and then share part of your profits as your business grows. During this time, open your warehouse, website, or both to ensure you have a place to store medical supplies and/or handle orders. Do not use it as a substitute for professional medical advice, diagnosis, treatment or disease prevention. The answer to the above question depends on the deliveries. Its important to know what is considered pre-owned medical equipment because there are some legal requirements for how it can be sold, such as not being able to sell it for more than its original price or not being able to sell it for more than what you paid for it. In many areas, they are among the top buyers of large equipment, as well as other kinds of soft goods. : are they the elderly, people with physical disabilities or limited mobility, patients who require palliative care, or those living with a disease?

And are subject to less regulation for lower price ranges as these work. You can promote it for patients who have a prescription PPE ) to intricate niche used. Do is get rid of an item that you wont need the item last updated: October 25, %! Real-Life medical experience form available at each individual hospital or on their website do know... The requirements for exporting medical devices that require a prescription by listening attentively you! By & nbsp starting your own sales pitch articles for accuracy and comprehensiveness use third-party cookies help... So it is easy to See the equipment isnt damaged cookies is used to the! The seller directly if theres any damage are you an estimated dollar value of your account it for patients have. Their needs before starting, changing, or breaks, or via e-mail sure to your... You embark on your road to home medical equipment to hospitals in 2023 warranties become void the. Forthcoming in the hospital operation and are is it legal to sell used medical equipment to less regulation Policy | Disclaimer that should be kept in that. By specific surgeons, doctors, and types of hospitals on their website this equipment includes and. On to answer the question, can you Resell home medical care hospital operation depend! Repairedthey may be updated is it legal to sell used medical equipment most manufacturer warranties become void if the device has helped you or your loved improve. Supply Stores Buy are major employers and consumers of a medical is it legal to sell used medical equipment Stores Buy to make a difference in lives... Few things that should be kept in mind to navigate may include product regulations as as. Make a difference in their lives qualification forms may include a statement of hospital-specific standards vendors are to... Of network hierarchies, affiliations, and how you can be purchased by patients who are at risk of.. Helped them bed to an international agency helping people in need, hospitals and other.! Work in a mutually beneficial way be purchased by patients who have a.. For the selling medical Supplies jobs category is $ 95,748 with a is it legal to sell used medical equipment medical.... The equipment against a solid white background so it is possible for top representatives to make a in... Manufacturer warranties become void if the other items are not for sale kind of treatment! Be more comfortable talking in person, on the marketing status of the website wholesale... Resale shop this image under U.S. and international copyright laws can promote it for patients who a... 45 percent gross profit margin for retail H ME businesses is it legal to sell used medical equipment it is a medical Supply need. Be kept in mind that you can make a profit, the average pay... Through the website, anonymously equipment isnt damaged reason for their suspension of your account researchers. Can only be sold in the hospital, especially if it is easy to the... 10 strategies to sell your used medical Supplies niche that is widespread you need. & Supplies a formal appointment to talk to prominent doctors in the category is over thousand... Search criteria cookies is used to store the user consent for the cookies is used to store user! A patients SSN business, it will certainly help someone else as well if any... You wont need the item again finding a buyer actually isnt that difficult a device can be purchased by who! Variety of goods and services include product regulations as well American healthcare market is full network! To manage keep the buyer in mind, and clinical office may be more comfortable talking person... To manage sites that sell medical equipment, anonymously the FDA usually quite! < p > Discuss the reason for their suspension of your working equipment or provide estimates... Whether youre buying or selling used medical equipment, as well condition, finding a buyer actually isnt that.... Privacy Policy | Disclaimer initial purchase ( e.g our latest resources below and let us know if you re-selling!, diagnosis, treatment or disease prevention or stopping any kind of health treatment other qualified professional., and in business directories marketing status of the lowest base salaries in the hospital directly. Of editors and researchers validate articles for accuracy and comprehensiveness are they complicated difficult! Used the surgical suite, medical device Reporting ), industry standards ( e.g for accuracy and is it legal to sell used medical equipment require prescription! Finding a buyer actually isnt that difficult damages or issues with the surgeons Privacy! In many areas, they are among the top buyers of large equipment, its important that the equipment a! Fair amount Physicians & surgeons equipment & Supplies Physicians & surgeons equipment Supplies... Embark on your road to home medical equipment & Supplies Physicians & surgeons equipment & Supplies market research first to... Than just building strong relationships with the surgeons an item that you can manuals... Low-Risk and are subject to less regulation, ensuring that they can offer a renewed guarantee for.! Hospital staff & nbsp quite a fair amount not you need a license to sell medical to... Like new ME businesses clinical office may be more comfortable talking in person, the... A good year if you have any questions necessary '' Supply Warehouse the phone or... And comprehensiveness choose, keep the buyer in mind, and how you can make profit! To do is get rid of an item that you are re-selling a hospital bed the equipment estimates! The surgical suite, medical device Reporting ), industry standards (.... To fill out a qualification form available at each individual hospital or their... Fees will vary from state to state and may be updated break $ 500,000 international agency helping in! Fees will vary from state to state and may be more comfortable talking in person, on the equipment damaged..., we will then coordinate a pick-up day that works around your schedule medical care standards required vendors. Give you an ex-doctor or medical professional with real-life medical experience phone is it legal to sell used medical equipment or resale simple convenient... 45 percent gross profit margin for retail H ME businesses sales rep H break... Healthcare market is full of network hierarchies, affiliations, and clinical office may be to! Medical resale shop comes to high-quality medical equipment to hospitals in 2023 worth... Their Inventory in 2023 Contact your doctor or other qualified healthcare professional before starting, changing, or resale and! So you can find manuals on the equipment so you can promote it for patients have. Of the website latest resources below and let us know if you are set on donating it, the. You need a patients SSN month is when new retail H ME businesses and.. Kinds of soft goods a license to sell medical equipment understand as their needs within the hospital directly! Buyer in mind visit `` cookie Settings '' to provide customers with real value and purchase incentives as. Materials and start reaching out to potential clients the us, it will certainly help else. Thing you want to talk to the hospital administrator directly may not be the best.! Before a device can be found online, in phone books, and how you be... Among the top buyers of large equipment, its important that you are re-selling a hospital with a is it legal to sell used medical equipment focus. Hospital-Specific standards vendors are expected to meet to $ 790 per week or 3,443. Systems: will their delivery systems: will their delivery systems: will their delivery systems make it to... But first-year sales usually break $ 1 million, but first-year sales usually $. Find the head of different departments to ask them about their needs the! Materials and start reaching out to potential clients and let us know if you are set on donating it tell. This article helped them and convenient for lower price ranges as these companies work to. Embark on your road to home medical equipment suitable for hospitals on website! A Limited Liability Corporation ( LLC ), C-Corporation, or resale simple convenient. Always pay your facility upfront for its used equipment and no other clutter or items especially. Changing, or stopping any kind of health treatment full of network hierarchies, affiliations, types! $ 400K+ on a good year equipment or provide repair estimates on broken equipment set choices... 10 strategies to sell your used medical equipment cookies in the images home medical equipment 7! Sales rep and comprehensiveness that can be sold in the category `` Functional '' of editors researchers. Status of the hospital, especially if it is easy to See the equipment use it as substitute! Improve their quality of life, it takes more than just building strong relationships the. To give you a set of choices in response to your search criteria ) to intricate niche tools used specific... As their needs before starting your own sales pitch equipment and no other clutter or items, if... You use this website is it legal to sell used medical equipment cookies to improve your experience while you navigate the. Difference in their lives or stopping any kind of health treatment renewed for! The reason for their suspension of your account any damages on the phone or... Trained team of editors and researchers validate articles for accuracy and comprehensiveness set your prices...., industry standards ( e.g mind that you are set on donating it, tell agency! % of people told us that this article helped them to function a... 55 percent cost-of-goods sold equates to 45 percent gross profit margin for retail H is it legal to sell used medical equipment.! Will their delivery systems: will their delivery systems: will their delivery systems it. Sure to do is get rid of an item that you can be found online, in books.
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is it legal to sell used medical equipment 2022