MRG News & Views – Auditing (ASC’s) Ambulatory Surgery Centers – April, 2014 Newsletter

Important considerations when auditing ASC’s

Physical assets play a significant role when auditing a surgery center. Between medical, IT, furniture, business equipment and instrumentation, these assets can account for up to 60% of the facility’s overall value.

SURGERY CENTER AUDIT

Following are important points to consider when auditing a surgery center:

  • Consider utilizing a third party vendor with experience auditing healthcare facilities
  • Determine the scope of service needed before engaging a vendor to conduct the audit
  • Have the vendor outline their fees and show examples of deliverables & references of past work.
  • Communicate the purpose of the audit with the company that will be conducting the inventory
  • Determine which assets are owned, leased or personally owned by employees
  • Communicate with employees that an audit will be taking place
  • Have the audit team conduct the work during off hours to avoid interference with procedures
  • If the purpose of the audit ties to an acquisition, determine if you will need a fair market valuation of the assets inventoried
  • Understand methodology of how fair market value is determined
  • Inventory audits should capture all demographics associated with assets on the property
  • Determine timing for the audit and when deliverables will be available with the contracted vendor

The goal of conducting an audit is to obtain deliverables that provide a clear picture of the physical assets located on the property. Deliverables should show exactly what is on the property and where it is located. If valuation is part of the scope, what is the current fair market value for each asset?  Working with an experienced vendor that can guide you through the auditing process will ensure a successful project and deliverables required to meet your needs.

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MRG Recent Projects:

MRG Inventory & Appraisal project – Surgery center, Independence, OH:

MRG recently completed an inventory & appraisal project for a surgery center in Independence, Ohio that included 3 OR’s, and a procedure room.  We inventoried over 1,000 assets at this property that were valued at over $1.1 million.

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Appraise Now Appraisal of the Month:

MRG regularly appraises equipment for hospitals and healthcare facilities.

Featured appraisal:  (1) quantity 2012 Zeiss OPMI Pentero surgical microscope:$155,000.00 fair market value

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MRG Fun Facts:

Now that Spring has sprung, the warmer temperatures are on the way.  As we finish up the month, here are some fun facts about April:

spring flowers

  • The month of April begins on the same day of the week as July every single year.
  • The earliest recorded reference to April Fools’ Day pranks dated back to 1392 in Geoffrey Chaucer’s Canterbury Tales.

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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!

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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 is keeping it GREEN!

recycle image with MRG logo in it

In an effort to be more conscious of the environment, Manage Resource Group, Inc. continues to work with local recyclers to recapture precious metals from medical equipment that cannot be sold in the secondary market. Just this month, due to the efforts of MRG, over 5,000 lbs. of equipment was recycled and will be kept out of landfills. We realize that through recycling we are doing our part to help the environment with green initiatives.

Accurate, efficient healthcare audit services

Manage Resource Group’s Inventory/Appraisal service not only provides detailed, accurate evaluations of all assets located in a healthcare practice, but MRG can provide the service to meet the tight deadlines administrators face.

Just last week MRG received a call on Monday from a client that was planning a physician practice acquisition.  The customer needed an inventory and appraisal of the assets located at the property so that they could negotiate the purchase.  MRG planned to conduct an onsite audit just two days later, and provided the client with deliverables on Friday.

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. We take pride in our ability to:

  • provide a cost effective service
  • mobilize quickly
  • provide client with accurate documentation of capital assets
  • perform inventory & appraisal in an efficient time frame

Our team of professionals provides the knowledge and expertise to manage each step of your next inventory & appraisal project.  For more information, please call us at (888) 557-4797.

Happy Anniversary MRG!

cheers to 7 years

Manage Resource Group, Inc. (MRG) is pleased to announce our 7th year anniversary! Our first seven years have been very successful and we want to thank our loyal customers for the opportunity to assist their equipment management needs.  We look forward to providing healthcare facilities the following hands-on services for years to come:

  • Inventory
  • Appraisal
  • Resale Management Services

As we celebrate this milestone, we are grateful for the company’s success and we look forward to working with our clients for many more years.

Manage Resource Group, Inc.