Medical waste has strict classification standards. However, in reality, the process of collection and disposal of most medical waste does not strictly follow the corresponding standards, thus resulting in great potential risks to people’s health. Our research analyzed existing problems with medical waste classification management, optimized the medical waste recycling business model, and then used the simulation software AnyLogic to design mixed and classification simulation models based on current literature regarding the standards of medical waste classification and composition in China. Furthermore, we simulated and calculated the generation of nonrecyclable medical waste, recyclable medical waste, and domestic waste in the three models based on 30,000 tons of medical waste generated in Beijing in 2015. We compared and analyzed the output, generation rate, disposal cost, recycling revenue, and cost–benefit based on the disposal cost standards of the Beijing Municipal Commission of Development and Reform and the China Renewable Resources Price Index in Beijing. The importance of strengthening the classification and recycling of medical waste was further validated by modeling and simulation. The study provides an important reference to hospitals, disposal plants, and government regulatory departments in their decision-making.
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