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If you are a medical professional who owns their own practice, or if you are a healthcare administrator who manages the practice of another, it's likely that there will someday come a time when you should get a medical office equipment appraisal. A medical equipment appraisal is when professional, certified appraisers will come and figure out the value of all of your medical equipment. There are several commonplace reasons why an appraisal may become necessary. These reasons include but are not limited to the following:
Merging Practices
When you're merging practices with another medical professional, it is incredibly important to know the value of what you are bringing into the merger. Should your practices ever need to be separated—if someone moved or passed away, for example—you could then work to separate your companies with a knowledge of what they were worth before you became one. Those who fail to appraise their companies prior to mergers might end up with a smaller settlement amount post-separation. Make sure that you protect your assets by getting an appraisal.
Purchase Price Allocations
A purchase price allocation is when one company acquires another. The company being acquired should get their medical equipment appraised in order to determine the fair value of the items, which can be added to the purchase price of the company.
Property Taxes
Property taxes are basically when the government taxes you for the value of your property. Since medical office equipment is mostly a permanent feature of an office, the value of the items is necessary in order to determine the taxes. If you feel you are paying too much for taxes, it is possible to appeal the tax and have your property and equipment appraised, which may lower the amount you are required to pay.
Litigation
In the unfortunate, though not unlikely, circumstance of a lawsuit between partners in a practice, an accurate determination as to the value of their practice is necessary. The appraisal amount can be used in order to prove ownership of a practice, which could help a judge to figure out which partner should get what after separation.
In conclusion, should you ever need a medical equipment appraisal specialist, look for someone who is accredited with the USPAP (Uniform Standards of Professional Appraisal Practice). This will ensure that you get a high-quality and accurate appraisal. Contact a company that offers appraisal services to set up your consultation.
Share27 September 2019
