Manage Resource Group, Inc. has updated our email addresses

Manage Resource Group, Inc. is pleased to announce that we have updated our email addresses to make it easier for clients to contact us.
Please update your records with the new email addresses:
Brad Andrew     bandrew@go2mrg.com
Brian Hoehn      bhoehn@go2mrg.com
Celeste Weise    cweise@go2mrg.com
Dave Holy           dholy@go2mrg.com
General inquiries can be sent to:
Thank you,
Manage Resource Group, Inc
682 W Bagley Rd #B15
Berea, OH 44107
Phone: 888-557-4797

PaidFirst Consulting Service

Manage Resource Group, Inc.
is pleased to announce the launch of:

  

As the healthcare industry continues to see consolidation, health systems are increasingly looking for capital group buy opportunities and standardization of capital purchases across their network of hospitals.

If your system is looking at group buy opportunities or streamlining clinical technology across the organization’s equipment fleet, Manage Resource Group’s consulting service increases return on investment for displaced assets/systems.

• Fair market valuation of capital assets & systems displaced by new purchases
• Trade-In validation on OEM credits for new purchases
• Turn-key project based sale of assets impacted by new purchase
• Transparent sale process
• Net returns up to 90 percent from sales of impacted equipment/systems
• Secure payment (money in hand before assets are removed from property)
• No shipping, material handling or warehouse fees

Our team of professionals bring more than 35 years of experience working with providers to assist with capital valuation and reselling assets impacted by group purchases and technology transition. We will generate the highest net returns for your organization in a safe and transparent manner.

  • Medex/Alaris pump project generated $640,000 gross sales, net return to client $576,000
  • Medrad injector project generated $159,000 gross sales, net return to client $143,100
  • Olympus scope project generated $154,340 gross sales, net return to client $131,189
  • Mizuho surgical table project generated $59,000 gross sales, net return to client $53,100

 

To learn more about MRG’s services call one of our sales consultants at:

888/557- 4797
or
Email us at info@manageresourcegroup.net

MRG Newsletter November 2017

Decommissioned assets: key areas of impact


It’s not uncommon for hospitals to be reactive around decisions associated with reselling decommissioned assets. This mindset starts with replacement budgets and runs through the time when equipment is retired and removed from service.

When replacing capital equipment there are 3 key area’s that can impact the decision making process:

Annual replacement budget
• Negotiating new purchases with the OEM/Trade-ins
• Removing the decommissioned asset from service

Identifying valuation data at each of these key phases during the equipment disposition life cycle can provide valuable information to support decision making. This allows the hospital to take a more proactive approach with the disposition process.

Annual replacement budget: When budgets are being discussed and capital is being allocated toward new equipment purchases, it is beneficial to have a third party reseller assist with providing a replacement budget valuation. This gives the hospital a snapshot of marketability each asset has in the secondary marketplace. Does the asset have potential resale value versus discarding the asset once decommissioned? This snapshot doesn’t ensure the asset will retain the secondary market value applied nine months down the road but does provide valuable information as you plan to replace the asset prior to negotiating the new purchase.

New purchase negotiations/trade-ins: It’s not uncommon for hospitals to trade-in assets that are being replaced with new purchases. Many times the OEM will offer a discount off the new purchase to account for trade-in value. The challenge is most hospitals have no idea if the trade-in offer is fair which can leave money on the table. Knowing the fair market value of an asset prior to negotiating the trade-in provides information that can be leveraged during the negotiation process. Identifying the fair market value of the asset can assist with increased trade-in credits from the OEM and also provides the hospital an alternative option by selling the asset on the secondary market if the trade-in credit is too low.

Assets removed from service: If the hospital has taken either of the previous two steps then it should have a good idea if the decommissioned asset has viability on the secondary market. Decisions should already be determined, outlining the best course of direction for the asset: trade-in, repurposed within the system, resold via secondary market, donated or salvaged. There will always be unexpected one-offs that come out of service various reasons, but having decisions made prior to an asset being decommissioned will minimize the need to put assets into storage or undervaluing the asset by accepting low purchase offers from vendors.

Being proactive with assets impacted by new purchases helps hospitals address challenges surplus equipment can place on decision makers. Having answers to questions surrounding capital equipment creates increased potential for trade-ins, minimizes storage space, and increases return on investments. It also maximizes efficiencies for the departments overseeing the disposition process. An important note when selling any surplus equipment, make sure you have cash in hand before the asset leaves the property and don’t pay fees for transportation or warehousing by third party sellers.


MRG Update:
Mange Resource Group, Inc. is pleased to announce the launch of their new:

For more information on contact one of our sales specialists at 888/557-4797


MRG Appraisal of the Month:
1qty 2008 Fluoroscan Insight 2 Mini C-arm
-FMV: $17,500.00


Thanksgiving Fun Fact:
Thanksgiving is the reason for TV dinners! In 1953, Swanson had so much extra turkey (260 tons) that a salesman told them they should package it onto aluminum trays with other sides like sweet potatoes — and the first TV dinner was born!

 

Why should hospitals conduct a facility-wide capital asset inventory?

When making daily decisions on capital assets it’s imperative to utilize accurate data. As the old saying goes “information is power”. Old or corrupted data presents many headaches and challenges for administrators, finance, clinical staff, biomed and ultimately the ability to provide the best patient care possible.

Frequently Asked Questions (FAQs):

Q: Are we utilizing an asset ledger that is accurate and current?

A: It’s not uncommon for a hospitals asset ledgers to contain decommissioned assets, renovations, leases, operational expenses etc. This can expand a ledger line item count by 6 times that of actual assets located in the facility.

Q: Is our ledger sortable and able to search specific equipment demographic fields?

A: Many hospital ledgers do not separate equipment information into individual fields. I.E. make, model and description are identified under one field which creates an inability to sort on specific fields criteria. This also make it very difficult to reconcile the ledger on a regular basis.

Q: When was the last time our hospital conducted a facility-wide inventory?

A: If the hospital has not conducted a facility-wide inventory for more than 5 years the ledger may show an inaccurate view of what is physically located in the property. Past audits have revealed a 15%-20% match rate when reconciling against old ledgers.

Q: Does our facility have a barcode tag (unique identifier) applied to assets that is streamlined for use by all departments?

A: Utilization of single barcode tag (unique identifier) for all departments provides ease of tracking when conducting preventative maintenance, ongoing reconciliation and budgeting

Q: Are we confident that the equipment located in the facility is accounted for?

A: Equipment residing in the facility should be accurately accounted for. Unaccounted equipment increases cost associated with insurance, preventative maintenance, storage and potential litigation if a patient is harmed.

Q: Do we have a detailed process outlining adds/deletes to the ledger as equipment enters and leaves the property?

A: Detailed process and procedures ensures hospital staff are following appropriate guidelines when equipment arrives and leaves the facility. This eliminates the chance of equipment bypassing proper clinical inspection when being put into service and detailing what happens to the asset when decommissioned

MRG Newsletter September 2017

FMV Appraisals/Definitions

 

Hospitals and healthcare facilities require appraisals on a daily basis to determine FMV (Fair Market Value) on capital assets.

Uniform Standards of Professional Appraisal Practice (USPAP) is considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States.

We thought it would be beneficial to share with clients the different types of appraisals and definitions that are used when applying FMV to capital assets:

Fair Market Value – Installed
FMV-I is the estimated amount, expressed in terms of money, that may reasonably be expected for an installed property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, including installation, as of a specific date. (This amount includes all normal direct and indirect costs, such as installation and other assemblage costs, to make the property fully operational but does not have to be supported by the business earnings.)

Fair Market Value – Removal
FMV-R is the estimated amount, expressed in terms of money, that may reasonably be expected for a property, between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell and both fully aware of all relevant facts, as of a specific date, considering the cost of removal of the property to another location.

Fair Market Value in Continued Use
FMV-CU is the estimated amount, expressed in terms of money, that may reasonably be expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, including installation, as of a specific date, and assuming that the earnings support the value reported. (This amount includes all normal direct and indirect costs to make the property fully operational and may not readily pertain to aircraft.)

Fair Market Value
FMV is the estimated amount, expressed in terms of money that may be reasonably expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, as of a specific date.

Forced Liquidation Value
FLV is the estimated gross amount expressed in terms of money that could be typically realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as-is, where-is basis, as of a specific date.

Orderly Liquidation Value
OLV is the estimated gross amount expressed in terms of money, that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser(s) with the seller being compelled to sell on an as-is, where-is basis as of a specific date.

Salvage Value
Salvage Value is the estimated amount expressed in terms of money that may be expected for the whole property or a component of the whole property that is retired from service for use elsewhere, as of a specific date.

Scrap Value
Scrap Value is the estimated amount expressed in terms of money that could be realized for the property if it were sold for its material content, not for a productive use, as of a specific date.

MRG Projects:
I&A services for M&A in OH and KY

MRG Appraisal of the Month:
1qty GE V-Scan handheld ultrasound
-FMV: $4000.00

 

 

 

MRG Fun Facts:
Jimmy Carter was the first president to be born in a hospital.

WE BUY MED SURG INSTRUMENTS, SUPPLIES & IMPLANTS

WE BUY
Synthes, Ethicon, Covidien, Alcon, Arthrocare, Mitek, Linvatec,
Smith & Nephew and more

Send us your list today: info@manageresourcegroup.net


Surgical Instruments:
Mini Drivers, Drills, Handpieces, Forceps, Surgical Sets etc.
Surgical Supplies:
Auto Sutures, Tissue Sealers, Shears, Staplers, Surgical Mesh, Sutures etc.
Implants:
Rods, Lags, Plates, Pins, Screws etc.


Manage Resource Group, Inc. is interested in purchasing your Med-Surg Instruments, Supplies and Implants.
Send us a list of out of services items that have not yet expired (within 60 Sixty Days of expiration) and we will provide you a purchase offer.  Supplies need to be in original sealed packages

Applying Value to Equipment

Applying Value to Equipment

When your facility decommissions assets and is looking to sell surplus equipment it is important to understand how value is being applied to the equipment you are selling.  This helps both the seller and buyer agree on an acceptable purchase price.  Outlined below are a few different definitions that are used for capital assets:

Fair Market Value (This is the standard definition applied when appraising an asset)

FMV is the estimated amount, expressed in terms of money that may be reasonably expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, as of a specific date.

Forced Liquidation Value (This definition is applied for facilities under bankruptcy or a buyer with an immediate need to sell)

FLV is the estimated gross amount expressed in terms of money that could be typically realized from a properly advertised and conducted public auction, with the seller being compelled to sell with a sense of immediacy on an as-is, where-is basis, as of a specific date.

 

Orderly Liquidation Value (This definition is commonly used when selling surplus equipment)

OLV is the estimated gross amount expressed in terms of money, that could be typically realized from a liquidation sale, given a reasonable period of time to find a purchaser(s) with the seller being compelled to sell on an as-is, where-is basis as of a specific date.

When selling surplus medical equipment buyers are typically applying some form of liquidation value with understanding that the asset is being sold in “As-is, where-is condition.”  Understanding how fair market values are being applied to your equipment allow for a smoother transition during the sale process.