Greetings of the Season
At this time of year our thoughts turn gratefully to those who have made our progress possible. Warmest thoughts and best wishes for a Merry Christmas & Happy New Year!
Manage Resource Group, Inc.
Medical Equipment Lifecycle – End of Life Management
This month’s newsletter concludes our series on Equipment Lifecycle Management. We have followed the lifecycle medical equipment from capital budgets, to equipment selection & purchasing, implementation, and management/ support. The final step in this series is “End of Life Management.” In this issue we will focus on what needs to be addressed as capital equipment comes to the end of its useful life. Two key questions that need to be answered about decommissioned assets are:
Once an asset has been decommissioned, it’s important not to let it sit in storage for an extended period of time. The facility can be incurring costs and liabilities to store equipment and it’s depreciating in potential resale value the longer it sits.
There are different options available for decommissioned assets and it’s important to take a proactive approach when deciding what options make the best sense for your facility:
When approaching “End of Life” for your equipment, it’s important to be proactive instead of reactive once an asset is removed from service. Identify potential values and understand the best course of direction for your assets.
MRG Recent Projects
2013 has been a very busy year for MRG and we are looking to finish strong! This past year MRG has conducted over 70 audits, appraised over $28 million in assets and assisted hospitals to generate more than $1.1 million in resale dollars.
MRG Holiday Fun Facts
Coca-Cola created the modern Mr. Claus. When Father Christmas first began showing up in illustrations, he wore many different colored robes: Green, purple, blue, and brown, among others. Beginning in the late 1800s, it became popular to outfit Santa in a red suit. Artist Louis Prang depicted him that way in a series of Christmas cards in 1885, and The New York Times reported on the red garments in 1927. But the modern image of Santa Claus as the jolly man in the red suit was seared into American pop culture in 1931, when artist Haddon Sundblom illustrated him that way for a widely-circulated campaign for Coca-Cola.
Wishing you and yours a Very Merry Christmas, and best wishes for a Happy New Year!
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:
For more information, visit our website at www.manageresourcegroup.net
APPRAISE NOW Budget Valuation Service
Budgets are approved – you need to know the value of your old equipment.
APPRAISE NOW – Budget Valuation Service (BVS) identifies Fair Market Value for equipment displaced by new purchases. Knowing the value of these assets empowers decisions made on the proper avenue for decommissioned equipment. ie: trade-in, sale to secondary market, donated, or salvaged.
Let us help you…
Please contact Manage Resource Group, Inc. to learn more about APPRAISE NOW Budget Valuation Service.
There are many reasons equipment becomes surplus:
Whatever the reason and wherever 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. Your facility may be spending money to maintain these assets or exposed to unnecessary costs by having them sit idle in storage. The longer assets sit the more they depreciate on the open market. MRG would be happy to visit those crazy places you may have equipment stored and we can help you turn idle assets into cash.