Fixed Assets Register Financing major capital purchases in the healthcare industry is a challenge in this tight economy, making it necessary for each facility to closely monitor its capital spending and make educated decisions on when capital assets should be replaced. Fixed asset inventories should be performed regularly by hospitals and healthcare facilities to maintain accurate financial records pertaining to fixed assets, major moveable equipment and clinical equipment within its facilities. Fixed assets typically include items with which are costly and have a life expectancy of greater than one year. These items are non-consumable and typically fall under the following asset classes: • Clinical Equipment • Medical Equipment • Furniture & Fixtures • Information Technology • Audio Visual Equipment • Health & Fitness Equipment • Kitchen Equipment • Maintenance Equipment In addition to the fixed asset classes listed, controlled items that cost less than the determined threshold are typically inventoried as well. Those controlled assets include, but are not limited to, serialized items such as: • Various Pumps • Monitors • Laptops • Personal Computers • Cameras • DVD Players These assets are required to be inventoried regularly, lack of proper method for fixed asset management can lead to following issues in the hospitals: 1. Inability to track the location, quantity & condition of the assets. 2. Poor preventive & curative maintenance. 3. Inability to calculate accurate depreciation & insurance. 4. Current statuses of the assets. 5. Pilferage, wastage & irrational use of capital funds. 6. Misdistribution of assets leading to redundancy of assets & their under utilization.