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PubMedDate not supplied

Facility redesign for your future laboratory requirements.

Laboratories must adapt to rapid changes in equipment technology and fundamental changes in the business of health care. A project begins with the creation of a project team representing the laboratory, administration, facilities, architects, and engineers. Each phase of the project works through the various issues affecting the facility, culminating in documents for the actual construction. Review of the codes, the existing physical facility, and the costs associated with the changes are all important in achieving an efficient laboratory.

Building Codes↗
PubMed1997

Negotiating a sound physician office lease.

Physician group practices that lease office space should consider several issues before signing a lease. These issues include whether to hire a broker to assist in the search for office space, negotiating lease provisions that pertain to compliance with the Americans with Disabilities Act; confidentiality of patient records; proper disposal of medical waste and other hazardous materials; compliance with occupational safety standards; quiet enjoyment; and utility use. In addition, physician group practices that lease office space from other healthcare providers must ensure that the lease terms conform with antifraud and abuse safe harbor regulations.

Air Conditioning↗
PubMed1997

Lease or buy: optimizing capital equipment procurement.

Many physician group practices struggle over whether to buy or lease equipment. While purchasing has been the traditional method of acquiring equipment, leasing often can be more cost-effective. Conducting a lease-versus-purchase analysis can help group practices arrive at the most cost-effective decision. Careful consideration of the alternatives can lead to the best use of the group's resources to meet its financial goals.

Accounting↗
PubMed1997

Practice management companies improve practices' financial position.

To maintain control over healthcare delivery and financial decisions, as well as increase access to capital markets, some group practices are forming their own physician practice management companies. These companies should be organized to balance the expectations of physicians with the values of capital markets. This organization should include retained earnings, financial reporting in accordance with generally accepted accounting principles (GAAP), predictable earnings and cash flow, physician ownership and leadership, and incentives for high-quality management. Three large, primary care and multispecialty clinics that merged to form a new physician practice management company increased their access to capital markets and improved their overall financial position, which will help them achieve long-term survival.

Accounting↗
PubMed1998

An off year for consolidation. 1997 hospital mergers, acquisitions, joint ventures and long-term leases.

Because of a significant drop in the number of major corporate mergers and acquisitions, total hospital consolidation in 1997 was well off the record-setting pace of previous years. The number of hospitals involved in dealmaking dropped 18% to 627 compared with the previous year, according to Modern Healthcare's fourth annual roundup of consolidation activity. And there were only four corporate deals, compared with 11 in 1996.

Data Collection↗
PubMedDate not supplied

Equipment acquisition using various forms of leasing.

How best to finance the acquisition of equipment is a major decision. It's important to understand the different kinds of lease structures before selecting one. Any purchase versus lease analysis should include an understanding of lease terms and conditions. Capital and operating leases are two categories under which all leases fall. Capital leases are accounted for much like a loan taken out to finance the purchase of an asset. An operating lease is accounted for differently, having no assets or liabilities booked on the balance sheet. Product acceptance, supply and demand and other less tangible factors play a role in the determination of lease rates. Internal factors must also be considered when making the decision to purchase or lease. It is critical that the method selected for financing be appropriately matched to the intended use of the equipment. An important factor when leasing medical equipment is how it will be disposed of at the end of the lease term. There are a variety of options available, from third-party sources to seeking trade-in credits, good toward the purchase of new equipment. It's important to consider the tax implications associated with leasing or buying assets.

Budgets↗