Maintain a log to help protect assets

A furniture and equipment log can be a valuable tool for any veterinary practice. It can be maintained on a spreadsheet program, with columns for the date of purchase, description of the asset, purchase price, supplier and other pertinent information.

The log can be especially helpful in case of a burglary loss, natural disaster, fire, death of an owner, divorce, separation of partnership, valuation of practice for an associate to buy in, selling a practice at retirement and periodic practice evaluations. It can also show when a practice is not adequately insured against the loss of assets.

Start a log by taking inventory of all items in each room or area of the hospital, or having staff members do so. Assign a value to each piece. As new items are purchased, simply add them to the log, and be sure to remove any that are no longer in use.

A final suggestion: Don't forget to take a copy of the file home for safekeeping. If you have a disaster at the hospital, you don't want your list destroyed along with everything else.

To view an example of a furniture and equipment log, go to www.vlg.us and click on "VLG in the News."

Dr. Bob Ables

Tip from:

Dr. Bob Ables,

Burleson, Texas