Manage Resource Group, Inc. wants to wish everyone a Happy Thanksgiving. We are thankful for another year assisting the equipment management needs of our partners. MRG offices will be closed on November 26th & 27th to spend time with our families and celebrate the holiday.
Inventory & Appraisal projects have been active this year due to the impact of COVID 19 on independent practices. MRG has engaged in onsite, virtual, remote and desktop audits to complete I&A engagements. Utilizing MRG’s proprietary Appraise Now™ Inventory Module that captures demographics and condition associated with each asset and MRG’s Appraise Now™ Blue Book a historical database of capital equipment that includes 10 years of data and more than 140,000 appraised assets, MRG was able to provide comprehensive deliverables accurately and efficiently for our clients.
From acquisitions to liquidating an underperforming entity, identifying the value of medical equipment and other assets is crucial to any healthcare project. Following are a few examples of when equipment inventory & appraisals are needed:
- Insurance purposes: equipment may need valuation for future policies or claims.
- Mergers & acquisitions: needed to properly value assets bought or sold
- Liquidation & bankruptcy: necessary any time creditors are involved
- Partnership separation: objective view assisting with buyout negotiations
- Leasing/buy-outs: for market value at end of term
- Management & planning: understanding equipment’s value prior to replacement
- Finance & tax purposes: current market value against book/equipment life and depreciation values
Third party inventory & appraisal services offer many benefits that can be leveraged in project engagements. Contact one of our professionals to answer questions regarding inventory & appraisal services. 888/557-4797 or email: firstname.lastname@example.org
The COVID-19 Impact on Healthcare M&A
Now that the coronavirus pandemic has hit the American healthcare system with a slew of clinical and financial challenges, it is time to reconsider the strategy for mergers and acquisitions among health facilities. Health system physician acquisition was a trend on the rise in recent years, and now that trend will skyrocket as physicians are challenged by managing their offices in a post-COVID world. The good news is that this presents plenty of business opportunities for health systems looking to expand their presence in local markets. What kind of changes will each side need to make in their M&A strategy?
More physicians are in a place where they are willing to sell, but how do you know if they will be a good fit for your organization? This is the time to buy, but not without first understanding the current market and potential challenges in the acquisition process. When targeting a practice for acquisition, you need to:
- Have clearly defined goals you wish to achieve with your M&A strategy (geographical presence, reduced supply expenses, increased care coordination, etc.)
- Effectively communicate expectations of physician employment and how their integration aligns with the values of the health system
- Cater your offers to not only the asset value of the practice but also to address individual physician needs to come to a mutual agreement
Financial security is now the number one reason physicians seek employment, but many are reluctant to do so at the expense of their autonomy. You may be at a financial disadvantage, but do not let that get in the way of protecting your interests as a health practice and potential employee. When looking for a buyer or merging organization, be sure to:
- Understand and explore nonconventional partnership options with varying degrees of physician independence and flexibility – timeshares, venture agreements, minority investments, etc.
- Know the worth of your assets and clinical network contribution (i.e. patient volume and revenue) to avoid accepting lowball offers
- Clarify your expectations as a prospective employee and how your practice can contribute to the buyer’s clinical strategy
The ongoing pandemic is forcing healthcare providers to reassess not only their financial interests but how they can cooperate to better serve their communities. Most M&A activity that leads to buyer’s remorse and dissatisfaction is due to incompatible cultures. The biggest change needed for both sides is to communicate their most important clinical expectations with candor and engage in a strategy that optimizes the mutual benefits of physician acquisition.
MRG Appraisal of the Month:
2020 GE OEC Elite GSP C-ARM
w/ dual monitors
– Virtual I&A for 2 Surgery Centers in AZ
– Desktop Appraisal Diagnostic Imaging Clinic in CA
– Onsite I&A Project for Family Health Group with 4 locations in TX
– Remote I&A service for Orthopaedic & Spine Practice in MI
– Onsite I&A Project for OBGYN Practice in KY
– Onsite I&A Project Urgent Care Clinic for MI Health System
Hospital Fun Fact:
Europe’s first facility specializing in the treatment of mental illness was London’s Bethlem Royal Hospital. It was infamous for its inhumane practices and became the definition of insanity – The word “bedlam” is derived from “Bethlem.” The hospital was a leading tourist attraction for more than a century, drawing curiosity seekers who wanted to get a first-hand look at its patients, their behavior and living conditions.
Manage Resource Group, Inc. is pleased to welcome Logan Engel as an Account Executive. Logan will be a valuable addition to the team focusing on lead generation, account management and operational support. Logan graduated from The University of Akron with a Bachelors in Organizational Supervision and a Minor in Professional Selling.
|Manage Resource Group has redesigned our Appraise Now™ portal to better assist |
our customers with their equipment appraisal needs.
|Is your annual budget up for approval?|
How will you handle equipment impacted by
|MRG’s Appraise Now is a secure web-based solution to questions surrounding fair |
market value for capital assets. Whether you’re trading in or looking to sell, make the most of your decommissioned medical equipment.
|How does it work?|
|Sign up for an account and receive your first appraisal FREE. Once registered, you can submit appraisal requests any time:|
|Let us know how we can contact you|
|Tell us all about the asset you need appraised |
Provide as much information as you can to ensure an accurate quote.
|You’re done! |
Submit your appraisal request and get a quote on your capital equipment within
24-48 hours from time of submission.