MRG News & Views – June, 2013 Newsletter

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Capital Asset Reconciliation

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Spreadsheet-on-computer-screen-460x300

Our past newsletters have discussed in detail the subject of capital inventory projects, why they are needed, the right time for an inventory, and how to prepare your staff for an inventory project engagement, etc. In this month’s issue, we will focus on the benefits of reconciling your assets upon completion of a physical audit.

Asset reconciliation is the capability of reconciling the differences between a
current physical inventory of what actually exists and the database accounting
system of what they believe exists. A major component of any audit is cross
referencing data collected during a physical audit with the facilities’ accounting
asset ledger. Reconciling the ledger provides a clean picture of assets located
in the property. This information can impact a few different areas for the facility:

  • Keeping the asset ledgers up to date will help your business make sound decisions on equipment that may need to be replaced.
  • Reconciliation provides savings when removing ‘ghost assets’ from the books. This will eliminate insurance payments paid on assets that are no longer physically on the property.
  • Reconciliation supports financial, risk and compliance management solutions.
  • Reconciliation allows accounting to accurately associate physical assets with cost centers for each department.
  • An accurate ledgers allows the CFO to properly develop operating and capital budgets.
  • Fixed asset records should be continuously updated as preventative maintenance is performed on the equipment.

When planning for a facility inventory project, it is important to remember the physical inventory and reconciliation go hand in hand. In order to make the entire process easier, data captured from the physical audit must be as descriptive as possible. In the case of a hospital audit, it is necessary to identify the location, department, asset description, model, manufacturer, current asset number and serial number of each asset so that it can be easily compared to what exists within the hospital. In many cases, hospitals and large health care facilities choose to utilize bar code technology to permanently tag each asset during their inventory process. Bar coding will help provide a detailed ‘snapshot’ of each asset located at the property, and will help make future reconciliations easier.

______________________________________________________________

MRG’s Social Media:

For up-to-date information on Manage Resource Group, Inc. and equipment management
information, be sure to follow us on our Linkedin page which is continuously updated.

http://www.linkedin.com/company/manage-resource-group-inc.?trk=company_logo

______________________________________________________________

MRG Recent Projects:

  • Urgent Care I&A in Indiana
  • OBGYN I&A in Ohio
  • Spine Center I&A in Ohio
  • Family Medicine I&A in Ohio
  • Family Clinic I&A in Kentucky

______________________________________________________________

MRG Associations:

Summer is finally here and MRG is preparing to exhibit at the 51st Annual AHRMM conference and exhibition July 28 – 31 in San Diego, California. We are looking forward to this show which will feature the latest information and innovations for supply chain professionals. Be sure to stop by to see us at booth # 622.

Click here for more information:

http://www.ahrmm.org/ahrmm/conference/annualconf13/index.jsp

AHRMM-2013 conference logo

______________________________________________________________

MRG’s Fun Facts:

Planning a beach vacation soon? Interesting fact to know about what may be swimming
around us in the ocean…

Jellyfish like salt water. A rainy season often reduces the jellyfish population by
putting more fresh water into normally salty waters where they live.

jellyfish

_______________________________________________________________

About MRG:

Manage Resource Group, Inc. is a privately owned healthcare equipment management company headquartered in Berea, Ohio. Our client focused services create strategies for each customer to increase profitability on capital equipment. We are industry experts offering the following service lines:

  • Inventory services
  • Appraisal services
  • Resale management

For more information, visit our website at www.manageresourcegroup.net

Catholic Health Partners plans to acquire Kaiser Permanente in Ohio

We continue to see an increase in healthcare system mergers and have learned that Cincinnati-based Catholic Health Partners (CHP) will acquire Kaiser Permanente’s Ohio locations.  If/when this acquisition is finalized; it will create a presence for CHP in Northeast Ohio.  After they integrate Kaiser’s outpatient centers into their health system, could an acute care facility be next?  That definitely seems to be the case.

For more information about the merger, click link below:

http://www.ohio.com/news/catholic-health-partners-to-acquire-kaiser-permanente-1.401644

MRG’s Premier resale agreement = better hospital returns

Looking for the most cost-effective way to sell out-of-service equipment?
Getting top dollar for your equipment can be a difficult process for any hospital.
Manage Resource Group, Inc. can help! We are pleased to announce our contract for liquidation services with Premier Healthcare Alliance members, contract #PP-MM-230. MRG will offer the hospitals access to contractual savings on our full range of services.

premier_contractedSupplier_horiz

Manage Resource Group, Inc. is a national supplier assisting hospitals with fair market valuations and sales management services for medical system replacements & technology change-outs.

We have generated an average net return for clients between 85 – 90% of market value. Contact MRG if you’re currently receiving minimal trade-in credits from the OEM, selling equipment to dealers for pennies on the dollar, or spending 40 – 60% of equipment revenues for consignment services.

hospital storage room

MRG’s Service Benefits:

  • Identify FMV for your equipment
  •  Increased trade-in credits
  • Highest net returns in the industry
  • Streamlined & transparent sales process
  • Hands-on experience managing projects
  • Secure forms of payment
  • No shipping/handling/storage fees
  • No long-term contracts

MRG has helped many clients obtain the highest return on investment for capital assets including movable medical equipment, lab equipment, IT, and imaging. Please call anytime if you would like pricing on your decommissioned assets. A phone call today can maximize returns for your hospital.

Manage Resource Group’s contract with Premier announced in Dail-E News

premier_contractedSupplier_horiz

Manage Resource Group, Inc. and Premier announced their agreement for Equipment Liquidation and Related Services in the June 5th Dail-E News newsletter. “We are very excited and look forward to the opportunity to work with Premier members throughout the United States,” says Brad Andrew of Manage Resource Group, Inc.

MRG will provide Resale and Liquidation services to Premier’s Acute care and Continuum of Care members beginning in June.

Go to http://dailenews.mdsi.org/#38292 for full announcement.