Has it been awhile since your last capital audit? Many hospitals conduct an annual inventory audit for supplies, but overlook the overall savings potential of improving their capital asset management program. Did you know that inventory tracking for hospital capital assets is recommended every 3-5 years? Here is why…
Your hospital’s capital assets (clinical / biomed equipment, laboratory, IT assets, audio visual, Monitoring, Radiology & Sterilization equipment, furniture & fixtures) represent the largest investment that hospitals & health care systems make. Yet, many hospitals rely on outdated ledgers generated from multiple departments to track their assets.
It is important to note that departments must not only track equipment that is used on a daily basis in their department, but also those assets that may be buried under boxes or included with other surplus inside offsite storage closets and vacant rooms. Over time, accounting ledgers become inaccurate because of breakdowns that may exist when new equipment purchases are brought into the facility and old equipment goes out. Spreadsheets and ledgers collected become inaccurate unless the accounting and facilities departments have a system in place for conducting regular inventories as well as policies outlining proper protocol for additions and deletions to the ledger for new assets after each purchase.
We will discuss more about tax & insurance savings and the 5 ways in which hospitals suffer from inaccurate asset records in our January newsletter. Make it your New Year’s Resolution to begin 2012 by learning more about the savings involved when improving your capital asset management program.
Manage Resource Group, Inc. is a medical equipment management company assisting hospitals with inventory, appraisal, and resale services. With over 25 years industry experience, our team of professionals provide clients a valuable cost analysis for daily equipment management, facility acquisitions, and reconciliation of asset ledgers.
“Helping to assess, inform, and empower healthcare providers with their
equipment management needs.” For more information on MRG’s services,
visit our website or contact us at (440) 289-6490.