Hospitals sometimes have equipment that isn't on the books, which is a cause for concern when the hospital is audited, says Michael Staunton, a Director at Principle Valuation.
While staff members at the hospital often have a good cataloging process for acquiring equipment, often they overlook equipment acquired by unusual means. For instance, if the hospital leases an item and then purchases it when the contract is over, that asset may not be recorded properly. Making regular inventory checks is important for catching these types of updates.
Valuation experts who are focused strictly on healthcare, such as Principle Valuation, are able to work through a hospital's fixed asset ledger, help identify disposals and properly account for the assets that are currently in use.
More Expertise From Principle Valuation:
Hospital Inventory Tip: Keep Track of Moveable Asset Inventory
Valuation Tip: Use Surplus Land Wisely
Concerns Facing Hospitals Right Now: Q&A With Dave Felsenthal of Principle Valuation
While staff members at the hospital often have a good cataloging process for acquiring equipment, often they overlook equipment acquired by unusual means. For instance, if the hospital leases an item and then purchases it when the contract is over, that asset may not be recorded properly. Making regular inventory checks is important for catching these types of updates.
Valuation experts who are focused strictly on healthcare, such as Principle Valuation, are able to work through a hospital's fixed asset ledger, help identify disposals and properly account for the assets that are currently in use.
More Expertise From Principle Valuation:
Hospital Inventory Tip: Keep Track of Moveable Asset Inventory
Valuation Tip: Use Surplus Land Wisely
Concerns Facing Hospitals Right Now: Q&A With Dave Felsenthal of Principle Valuation