MRG News & Views – Importance of demographics captured during inventory audits – August, 2014 Newsletter

Outpatient practice I&A services collage

Healthcare acquisitions are still in full swing and MRG thought it would be beneficial to take a closer look at demographics that are typically associated with inventory audits. When planning to purchase or sell an outpatient facility, tangible assets can account for approximately 20%-60% of the property’s overall value.

Tangible assets will typically include medical equipment, IT, business equipment, furniture, security systems etc. Capturing demographics and appraising each asset provides a detailed view for both the buyer and seller. Over the next few months we will take a closer look at the demographics typically captured during an audit and the importance of that information:

  • Name of the practice
  • Facility location
  • Physical location of asset on property
  • Manufacturer of the asset
  • Model of the asset
  • Asset description
  • Asset serial number
  • Condition assessment
  • Notes about the asset

Name of the practice: When developing an audit it’s important to capture the legal name of the property that is being inventoried. This may be the business legal name or the name of the doctor who owns the business. It should be identifiable on both the inventory report and on the cover letter that accompanies the report. This information highlights ownership of the asset which is important during an acquisition transaction because another entity will be purchasing those assets and title of ownership will need to be transferred.

Facility location: Audits should also contain the physical address of the property. This would include the suite number if applicable. There are times when two business entities under the same ownership will be operating under one address. If auditing both entities one should note this in the report under the facility field and be sure assets are identified with the proper entity. This is very important if the business entity has multiple locations and the report needs to show what assets belong to each location.

In the next newsletter we will focus on demographics associated with each asset during the inventory process.

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MRG Projects:

Manage Resource Group, Inc. recently completed an inventory and appraisal project for a gastroenterology/endoscopy center that included three procedure rooms and 11 exam rooms. 

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MRG’s Appraisal of the Month:

Keiser Functional Trainer

Keiser Functional trainer 

model:  AFFINITY 003030P

FMV: $7,500.00

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MRG Fun Facts:

The end of summer means back to school! Today’s students don’t realize how much of a privilege it is to attend school. Up until 1840, only America’s wealthy were able to receive an elementary school education. Our third president, Thomas Jefferson worked to promote tax-funded schools along with Horace Mann, Henry Barnard and other reformers.  They believed that more people would attend schools if they were paid for by taxes.  They also predicted that a spread of education would help produce better citizens, unite the societies, and prevent much crime and poverty. It turns out that in a large part they were right.

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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

A great option for equipment appraisals

Appraise Now Promo - Aug 2014

Manage Resource Group, Inc. initiated a new section in our monthly newsletter titled, “MRG’s Appraisal of the Month”. This section features an equipment appraisal that the company completed within the past month for a healthcare system. The last few featured equipment appraisals have included:

  • Siemens Sonoline Antares Ultrasound system with probes – FMV: $21,000.00
  • 2012 Zeiss OPMI Pentero surgical microscope – FMV: $155,000.00
  • Diopsys Nova VEP Vision Testing System – FMV: $12,500.00

We appraise and determine the fair market value (FMV) of a variety of equipment on a regular basis for surgery centers and hospitals utilizing our own secure web-based program – APPRAISE NOW.

Our industry experience can help identify values for:

  • OEM trade-in
  • Lease buyout
  • Property tax valuation
  • Insurance
  • Replacement cost
  • Fair market assessment
  • Sale to doctor or third party

Receive current and accurate equipment appraisals for your capital equipment within 24 – 48 hours from time of submission. Contact one of our sales professionals at (888) 557-4797 to learn more about APPRAISE NOW or log on to www.manageresourcegroup.net.

Equipment resale services for surgery centers

Have surplus equipment sitting idle?

Surgery Center pic collage

Whether your office specializes in eye surgery, endoscopy procedures, cosmetic, gastroenterology, spinal surgery, or dermatology, you may have medical equipment at your location sitting idle and collecting dust.

There are many reasons equipment becomes surplus:

  • The asset has served its purposed life and is decommissioned
  • Facility storing the asset for backup
  • The OEM is no longer supporting the asset
  • Dr. Jones had to have this piece of equipment and then he left after the office purchased it
  • The facility is trying to streamline its inventory throughout the system
  • Renovations are planned and the office may want to put the asset back into service

Whatever the reason, it’s important to know that just because it’s out of sight does not mean it should be out of mind. Your facility may be spending money to maintain these assets or exposed to unnecessary costs by having them sit idle in storage. The longer medical equipment sits, the more it will depreciate on the open market.

Manage Resource Group, Inc. is an Ohio-based company and would be happy to stop by and meet with you to discuss the purchase of equipment you are no longer using. Let us help you turn idle assets into cash. For information on MRG’s resale services, please contact one of our professional representatives 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

Announcing winners of AHRMM Conference Raffle!


 AHRMM RAFFLE WINNERS

We are pleased to announce the raffle winners from last week’s AHRMM Conference!

                          Mark Latcheran from Mercy Medical Center, Canton OH                                 winner of a Kindle Fire HD tablet

                            Paulette Simmons from AnMed Health, Anderson, SC                                 that won a $25 VISA gift card.

AHRMM raffle Prizes

                        Many thanks to all attendees that stopped by our booth to visit with us!                                                         We look forward to the next conference.                                                Manage Resource Group, Inc.

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MRG is back from the 2014 AHRMM Conference!

Manage Resource Group, Inc. has returned from sunny Orlando where we exhibited at this year’s AHRMM Show. We had a very busy couple of days meeting with supply chain professionals and sharing our services for equipment inventory, appraisal and resale.

We enjoyed seeing past clients and meeting new contacts, and appreciate all that stopped by our booth to meet with us. We will be announcing the winners of the Kindle Fire HD and the $25 VISA Gift Card soon.

AHRMM 2014 Show return

Visit MRG at the AHRMM Conference!

Visit us at the AHRMM show

Stop by and see us today at the Annual AHRMM Conference in Orlando!
Manage Resource Group, Inc. is exhibiting August 3-6 at the Orlando World Center Marriott in Orlando, Florida. If you would like to meet with us regarding your capital equipment inventory, appraisal, and resale needs, please stop by booth #724 or give us a call at (888) 557-4797 to arrange a meeting.

We are excited to share our services with others at this great show that will feature the latest information and innovations for supply chain professionals.
For more information about the show visit:

http://www.ahrmm.org/ahrmm/conference/annualconf14/index.jsp

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