MRG News & Views – March, 2014 Newsletter

Resale Projects:  Spring cleaning of your “Closet Clutter”

Closet clutter2 - MRG

Did you ever open a closet at home where a conglomeration of “stuff” collected falls out everywhere? If so, it may be time for some “Spring cleaning.” The same happens at hospitals. Storage areas and closets become cluttered and disorganized when decommissioned equipment gets stored away. Before you know it, those assets are collecting dust, taking up space, and losing value.

We call these assets “closet clutter.” Although the item no longer has use in your hospital or department, it does not mean it isn’t valuable to someone else. Don’t take an ‘out of sight, out of mind’ approach when it comes to your assets.

There are many reasons why equipment becomes surplus:

  • The asset has served its purposed life and is decommissioned
  • Department may want to keep an asset for backup
  • The OEM is no longer supporting the equipment
  • Dr. Smith had to have this piece of equipment and then he left after we purchased it
  • The hospital is trying to streamline its inventory throughout the system
  • We are renovating and may want to put the asset back into service

Whatever the reason your hospital is storing equipment it’s important to know that just because it’s out of sight does not mean it should be out of mind. It is always best to take a proactive approach when you have equipment that is decommissioned. Your facility may be spending money to maintain these assets or exposed to unnecessary costs by having them sit idle in storage. The longer an asset sits, the more it will depreciate on the open market. Sell the equipment rather than adding it to your collection. The time is now to do some spring cleaning of your storage areas. MRG would be happy to help you turn your “closet clutter” into cash.

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MRG Recent Projects:

MRG Inventory & Appraisal project:

MRG recently conducted an inventory & appraisal project for three physical therapy clinics in West Virginia.  We appraised over 450 assets at this location valued at $95,555.

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MRG Fun Facts:

After such a long, cold winter, we are happy to announce the first day of Spring arrived on March 20th!  Did you know:

SpringHasSprung

Spring fever is a real condition! It can occur when a sudden warm spell follows a long cold period. When the temps rise, there’s a dilation or expansion of the blood vessels.  The result is an energetic feeling.

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Contact MRG:

Follow MRG on LinkedIn!  Stay connected with up-to-date information and news on inventory, appraisal, and resale management services when you follow Manage Resource Group, Inc. on LinkedIn!

Linked in

Follow us now for your chance to win! Once we have reached 50 followers, we will have a drawing for $25.00 Starbucks gift cards! Two winners will be selected.

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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

 

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 surplus equipment can be a difficult process for any hospital.  Manage Resource Group, Inc. can help! Our contract for liquidation services with Premier Healthcare Alliance members (Contract #PP-MM-230) offers hospitals access to contractual savings on our full range of services.

Manage Resource Group, Inc. recently completed a pump change out project for a Premier hospital client that involved the marketing, sale, and removal of 1,400+ pumps which generated over $670.000.00 in revenue.

premier_contractedSupplier_horizOn average, we have generated a 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.

storage room with med equip

Inventory & Appraisal services for offsite healthcare facilities

In this ever-changing time of healthcare consolidation, many health systems are either selling or purchasing new locations to offer their patients additional services. Outpatient locations may include diagnostic imaging, dialysis centers, sleep labs, and surgery centers. When the health system is planning to buy or sell an outpatient facility, identifying the physical assets located on the property can account for approximately 20%-60% of the facility’s value, therefore it is imperative to have a complete understanding of the assets at the property. Assets include medical equipment, IT, business equipment, furniture, etc. Identifying the fair market value of the physical assets will assist with negotiating the purchase or sale of the outpatient facility.

Baptist Hospital East 0008

MRG’s inventory and appraisal service provides a third party objective view and captures demographics of physical assets  providing valuable information that can be leveraged during the acquisition process. MRG specializes in valuation of:

  • Surgery centers
  • Imaging centers
  • Ambulatory care centers
  • Sleep labs
  • Dialysis centers
  • Physician practices

MRG would welcome the opportunity to further discuss inventory & appraisal needs. For additional information please contact one of our sales professionals  at (888) 557-4797.

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“Helping to assess, inform, and empower health care providers with their equipment management needs.” For more information on MRG’s services, visit our website at

 www.manageresourcegroup.net

March Madness and Lent

The month of March brings about the NCAA basketball tournament better known as March Madness.  Brackets are being filled out and you’re confident about your team’s chances.   It is also the beginning of Lent for many Christians.  During this time many will give up something as an act of sacrifice until Easter.

This got me to thinking as a business how can we apply March Madness and Lent into our corporate culture to make changes that will provide a positive impact on daily operations and sales.

  • As with the NCAA tournament we should treat each sales opportunity as a one and done scenario.  How can we win our customers business?  What can we do in our sales cycle to move a sales opportunity to the next level (or game) to close the deal (make it to the final 4)?   Every customer is unique and will have their own set of challenges that makes your product or service useful to them.   (prepare for each game in the tournament)
  • As with Lent we are now almost a quarter of the way into the new-year.  Maybe some of the new-year resolutions you made as a company have fallen by the wayside.  Identify some of the bad habits that tend to occupy your daily activities and see what you can give up.  Maybe you are face booking, texting friends or surfing the web when you could be more focused on prospecting or follow up with current clients.  Yes change can be difficult but in many cases it’s also necessary.

As you work your way through March identify steps to continue growing your business one sale at a time and adjust your day to be the most productive.  Look forward to seeing you in the final four or Easter.