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asset management

Crown offers Asset Management solutions through Crown Financial Services, (CFS).

For owners of skilled nursing facilities, assisted living, and hospitals, an asset management plan is critical. An asset management plan helps teams maintain regulatory, assess risks, operating costs, and improve operational efficiency within the facilities.

In a healthcare setting, Asset Management (AM), can be described as a highly-systematic, cost-effective process for acquiring, planning, deploying, maintaining, operating, and disposing of the physical assets of the healthcare organization. What asset management really does is to provide a healthcare facility with an asset registry to track and manage its inventory. This helps to reduce costs and improve patient care and operational efficiencies.

Asset management in healthcare

What is typically included in an Asset Management program within the Healthcare Industry?

This covers everything from layout, ward management, facilities management, operation care, intensive care, and even the parking. Catering, cleaning, building maintenance, environmental services, security, and reception are some of the key areas that are covered under facilities management. And optimum utilization of physical assets to enhance patient care is an integral part of efficient hospital management.

From patient care items like beds and chairs, to operating inventory like blood-pressure checkers; it is imperative to know the location of each piece of equipment or item. An effective asset management program helps hospitals to know the stock levels of each inventory item, its location, and status. Quite often, asset-tracking capabilities like barcoding are used to track hospital inventory. Having accurate and up-to-date visibility of inventory items helps to reduce ‘where-is-the-item’ situations, helps with asset depreciation calculations, and facilitates bulk buying, which typically offers significant cost savings.

Medical equipment aids doctors and patients with diagnosis, treatment, and aftercare procedures. From simple medical equipment like blood pressure monitors, to complex MRI scanners; the equipment requires planned, preventative, and reactive maintenance. This typically means medical equipment engineers need access to operational data and quite often also need to know operating threshold levels. While most equipment operators will provide maintenance as part of their support contract, there are occasions where large-scale hospitals require their own maintenance program. Modern asset management systems allow facilities to ensure all their medical equipment has optimum up-time and is ready to assist with patient care.

Facilities Maintenance Department is the foundation of care within a hospital. Facilities teams ensure that healthcare environments are:

If a healthcare environment does not meet these expectations simultaneously, it is nearly impossible to achieve an excellent medical outcome.