October 2014 Newsletter

Importance of demographics captured during inventory audits PART III

Outpatient practice I&A services collage

As we conclude our series on the importance of demographics captured during inventory audits we will shift our focus to the final two bullet points outlined below.  Condition Assessment and Notes.

  • 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

Condition assessment: is an opinion of the ongoing usability of an asset based on the physical condition and apparent operability of the asset. This opinion supports the appraised value and informs both buyer & seller on the assets viability for future use.  It also highlights devices that might need to be replaced in the near future.  Criteria that impacts assessments are:  condition, age, technology, clinical support etc.

A typical four point scaling system might include the following:

  • 4 = like new and of current technology
  • 3 = well used but still useful and of current technology
  • 2 = used, and older technology in line for replacement
  • 1= very used, in rough condition in need of immediate replacement

Notes about the asset:  provides a general area to make comments regarding the condition, accessories, options or other pertinent information not captured in the typical demographics that can affect the value of the device.

Inventory reports should provide a clear picture for both buyer and seller of tangible asset located within a property, the fair market value of those assets and methodology used to obtain FMV.  Its not uncommon for firms to take digital pictures of assets and incorporate them into reports.  Audit reports should provide an unbiased view of a devices fair market value and be supported by current market conditions.

MRG projects:

MRG completes fair market valuation exceeding $9,500,000 for northeast medical group.

 

MRG conducted I&A audits in Ohio, Kentucky and Illinois.

 

MRG’s Appraisal of the Month:

Palomar Icon Laser, FMV: $47,000.00

PalomarLaser

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

 

fb logofb logo

fb logofb logo

HEALTHCARE IS GOING RETAIL

walmart

Shopping List:

  • Bread
  • Milk
  • New pair of shoes
  • Get physical
  • Get prescription for sinus infection

Seem like this is an odd shopping list? Well, it’s more of reality that you might think.  Retail stores are jumping into healthcare.  You will no longer need to schedule that annual physical with your family physician.  Walmart is making primary care services available within the walls of their stores.  The idea is to provide accessibility with our crazy schedules at a fraction of the cost of a typical medical offices visit.

Yes we are in the early stages of this new venture, but hopefully pressure created from alternative primary care services will drive cost down at your family physician office.

Why Walmart and Nontraditional Players Could Be Formidable Forces in Health Care

http://www.hhnmag.com/display/HHN-news-article.dhtml?dcrPath=/templatedata/HF_Common/NewsArticle/data/HHN/Magazine/2014/Sep/Editors-Notes-walmart-clinics&utm_source=daily&utm_medium=email&utm_campaign=HHN

MRG’s Inventory/Appraisal Service

MRG logo - white bkrd - 5x5

Manage Resource Group has been very busy this year providing our Inventory/Appraisal service to our customers throughout the country.  Recently, our appraised assets’ total exceeded $14,500,000.00 in Fair Market Valuations.

We are very thankful for the opportunity to provide our equipment management services and look forward to assisting healthcare facilities in the future.

If your hospital or practice needs an evaluation, please contact us at 888.557.4797 or info@manageresourcegroup.net.

Regards,

Manage Resource Group, Inc.