Often overlooked, fixed assets need attention in order to ensure proper accounting, valuations and financial reporting. In healthcare, as in many capital-intensive industries, fixed assets represent the largest item on the balance sheet.
This article will help you understand the risks of not maintaining fixed asset accounting records, the reconciliation process and the importance of conducting an inventory of your fixed assets. It will also demonstrate the importance of selecting an independent firm that has both healthcare industry and physical inventory and reconciliation qualifications and experience.
Duff & Phelps (formerly American Appraisal) understands the organization of healthcare institutions, is familiar with healthcare fixed assets and understands the protocol for operating in patient care environments and interacting with healthcare professionals and staff.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.