2023 Estimated Useful Lives of Depreciable Hospital Assets - PDF - Single User
PDF version of Estimated Useful Lives of Depreciable Hospital Assets, 2023 Ed., Single User
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Essential for Financial Planning
Investment in capital assets is an integral part of a hospital’s strategy to improve the quality and efficiency of its health services. Such investments often seek to anticipate future changes in health care delivery and the needs of the community. The 2023 edition of Estimated Useful Lives of Depreciable Hospital Assets is a reference guide developed in partnership with the Healthcare Financial Management Association (HFMA) providing health care organizations and supporting personnel with estimates for the productive period of time for a wide variety of commonly used depreciable assets before they become technically or commercially obsolete. It includes an overview of the importance of the capital planning process, tips on managing capital projects and guidance on record-keeping functions for tracking assets. The 2023 edition includes over 100 new useful assets, including robotics and AI, that are quickly becoming part of the healthcare eco-system.
As in previous editions, this guide contains a list of assets and their associated useful lives. The asset categories are grouped into two parts:
- The first part (tables 1 through 5) contains estimated useful lives for land improvements, buildings, building components, fixed equipment, and building services equipment.
- The second part (tables 6 through 9) contains estimated useful lives for major movable equipment in the administrative, nursing, diagnostic and treatment, and support departments.
For the 2023 edition, table 2, building components, has been revamped to consider the type of construction, based on International Building Code (IBC) construction types, and standard occupancy types.
An Accepted CMS Reference
The 2023 edition contains life span estimates for hundreds of equipment and capital asset investments found in hospitals, physician group practices, including new assets found in health care delivery service. It eliminates the risk of inappropriate life assignments in the CMS-mandated Medicare Cost Report and simplifies the task of establishing depreciation costs associated with health care buildings and equipment.
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