5 Lessons Learned: Businesses

Selling Diabetic Test Strips for Cash

Are you a diabetic who uses test strips? Do you have too many of them taking up space in your home? Are you interested in making some extra cash?

Yes, it’s possible to make money from those extra diabetic test strips, as long as they are unused and unexpired. At least 29 million people in the U.S.have diabetes today, and around half of the total population is dealing with undiagnosed diabetes or pre-diabetes. Not all of them have health insurance or have the money needed to manage their condition.

As a diabetic yourself, you know how frustrating dealing with this disease can be. You also know how costly it can be. What you may have missed is the fact that whatever OTC you’ve purchased from a pharmacy is absolutely legal for you to sell. Of course, if you got your strips through Medicare or Medicaid, you won’t be able to sell them. It’s illegal to sell anything the government paid for.

Different Situations that Leave People with Leftover Strips

You may be wondering how people started selling pre-owned diabetic test strips. The following are various scenarios where you or any other diabetic may end up having more strips than necessary:

>> Different diabetics may experience the disease in unique ways.Some people have to measure their sugar levels more frequently than others.

>> Diabetes goes away eventually. This doesn’t happen very often, but it can in some cases, as in gestational diabetes which naturally resolves itself after the child is born.

>> You switch health insurance policies. If you switch policies, you will typically get a different amount of supplies.

>> You buy a new machine. Often, when you get a new machine, your old strips will no longer work.

>> A family member with diabetes passes on. None of us live forever, and when a diabetic passes on, he may leave some unused diabetic test strips behind.

How Much for Diabetic Test Strips?

Different buyers will have different criteria when screening diabetic test strips, but usually, it boils down to three things: the brand, the number of strips in the box, and the number of boxes. For example, you have a box of 50 good-brand unused and unexpired strips. That may be around $16 going straight into your pocket. And with some buyers, you’ll even have a referral fee – usually around $25 – for each seller you recommend them to.

Where the Strips Go

Anything can happen to your strips the moment they are purchased,but the idea is that a cash-strapped diabetic sill buy them for a cheaper price. In other words, this whole business isn’t just a money-making activity but a cause in itself.

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