It’s that time of year again, spring is around the corner and the topic of spring cleaning comes into focus. It’s amazing how much accumulates over the winter months when everyone is in hibernation mode.
For hospitals, the warehousing of surplus medical equipment can have significant costs associated with storage. U.S average for industrial space can range anywhere from $6.00 – $24.00 per square foot to rent. Building industrial space can range from $30.00 – $40.00 per square foot.
Based on the number of assets in storage these figures can escalate very fast. Following are a few questions to consider as you take a stroll through your storage areas:
- Why are we storing the equipment?
- Is the equipment ever going back into service?
- How long has this asset been in storage?
- What is the cost of the space being used to store assets?
- Can warehouse cost be offset by selling assets no longer needed?
- Are we losing value on the open market the longer we hold onto assets?
- Can the storage space be better utilized for other hospital needs?
As you prepare for spring take time to evaluate area’s where surplus is stored and let us know if MRG can assist with valuating your current needs and developing a game plan to increase your return on investment.