Importance of demographics captured during inventory audits PART II
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.
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. Part II of our newsletter will focus on the location of an asset and demographics associated to the asset itself.
- 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
Physical location of asset on property: Noting the physical location of assets during the inventory phase of a project allows both the seller and buyer to verify the asset is in fact located within the facility. Typically most rooms will be identifiable with a room number or what type of room it is i.e. exam 1, imaging, lab etc. If no room number exists it will be important to identify a unique asset within the room that may be easily located for reference. For example a room with an autoclave might be called the autoclave room, record room is where patient files are being housed etc.
Demographics associated with each asset:
- Serial Number
When auditing a property it’s very important to capture as many identifiers as possible for each asset. These identifiers will assist with appraising the asset. Most medical equipment will have the above information but this may not be the case with furniture. The bulk of the value will be found in the medical assets. The manufacture will identify who makes the asset or the distributor of the asset. The model number shows vintage and helps establish age of the asset. General description will highlight what the piece is and the serial number provides the best unique identifier for the asset when reconciled.
In the next newsletter we will focus on condition assessment and notes about the asset.
MRG recently completed an inventory project for a medical group in New York that included six locations and 10,000+ assets.
MRG’s Appraisal of the Month:
Beckman Coulter AU 680 Chemistry Analyzer, FMV: $150,000.00
MRG Hospital Fun Facts:
Frank Sinatra’s death coincided with the Seinfeld series finale. Sinatra’s ambulance was able to arrive to his house and then to the hospital quickly because of low traffic due to much of Los Angeles being inside to watch the show
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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