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Take Control of Your Data: Standardize Asset Descriptions
As we continue our blog series on maintaining a healthy asset ledger, we now look at developing a standardized nomenclature for describing assets. This is all about keeping the information in your ledger consistent and maximizing your ability to search, sort, and filter your data. As explained by example in our first post in the […]
The Importance and Process of an Asset Inventory & Tagging
An Asset Inventory and Tagging is an opportunity to correct financial ledger data to a standardized nomenclature, to clear up any ghost assets (for-profit organizations may see a property tax reduction from this), and to better identify equipment needs (where equipment is lacking or requires replacing). Asset tags improve the accuracy of future revisions to […]
A New Alternative to GPOs for Physician Practices
Finally, there is a way for physician practices to benefit from the reduced prices commonly available to hospitals through Group Purchasing Organizations. The solution is an Aggregated Procurement Partner (APP). APPs help practices better manage procurement costs and inventory. Read the full story at the Nashville Healthcare Council Blog. Come Get To Know Us! To […]
Is Your Medical Facility Haunted By Ghost Assets?
Ghost assets are assets accounted for on your fixed asset listing that do not actually exist at your facility. This can happen when an asset has been sold or traded-in for credit on another purchase, used by Biomed for parts to repair like items, or simply taken out of service (retired) but this activity was […]
Guide to LED Lighting for Healthcare
An LED, or Light-Emitting Diode, works by electroluminescence – its material emits light in response to an electric current or field. By contrast, incandescence works by visible light being emitted as a result of the high temperature of its material, while fluorescence is the emission of light by a substance (phosphorus in fluorescent bulbs) that […]
The Foundation of Successful Healthcare Asset Management
An Asset Inventory and Tagging is an opportunity to correct financial ledger data to a standardized nomenclature, to clear up any ghost assets (for-profit organizations may see a property tax reduction from this), and to better identify equipment needs (where equipment is lacking or requires replacing). Asset tags improve the accuracy of future revisions to […]
How to Get a Quality Valuation
When you’re in need of a certified Fair Market Valuation, be sure to inquire about the contractor representative’s qualifications. Several professional appraiser organizations provide designations to their accredited members. These designations represent an elite level of qualifications knowledge and experience that you will benefit from when engaging a certified professional to provide your valuations. The […]