Equipment Valuation and Inventory Services
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Principle Valuation’s medical equipment valuations detail both the count and value of existing assets. Our reports have been prepared for financial reporting, purchase price accounting, lease buy-outs, financing and insurance purposes. These valuations can:
- Identify assets that are on the books and are being insured, but have been disposed of
- Determine whether remaining assets are overinsured or underinsured
- Accurately state remaining life to derive appropriate depreciation expense for financial reporting and tax purposes
Asset inventory reports capture descriptive information, original cost, replacement cost, life and remaining life. These reports can be sorted to review by department, location, asset type, value, etc. During the inventory process, an inventory tagging system can be used to facilitate barcode inventory tracking to individually track items for future reporting purposes.
Healthcare and seniors housing entities turn to us for equipment appraisal and inventory services because:
- They trust that our equipment valuations and inventory reports will be accurate and fair, and will be performed in a timely manner
- Our equipment valuations are performed by professionals with specific expertise in medical equipment valuations
- Our deliverables provide the information needed to appropriately set up books, and comply with financial reporting requirements
- Identified approximately $139 million of unrecorded disposals (assets listed on the books but no longer there) leading to a more manageable record by department and a more accurate age of plant for an academic medical center
- Identified approximately $158 million of unrecorded disposals leading to a more manageable record by department and a more accurate age of plant for an eight-hospital regional health system with more than 150 clinical locations
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