The Easy Way to Save Money and Build Your Practice
As a member of ION, we guarantee a yearly report on the value of all your equipment. This will allow you to save on taxes and insurance by accurately tracking depreciation over time. We make it simple and easy by providing you with an updated list of all your dental equipment every year. In today’s competitive dental industry, it is vital to your business that you receive the most accurate information on all current and future technology in your possession.
Up-to-date, accurate information is vital for the appraisal of your equipment. That is why we go above and beyond with all of our equipment valuations:
- Identification of assets
- Determine purpose of each asset
- Establish guidelines and approaches to be used during valuation
- Decide type of valuation study to be fulfilled
- Determine type of equipment appraisal report to be given
- Guarantee accessibility of resources, information, and relative data
The first step in the process of equipment and machinery evaluation is recognizing which items will be appraised. This can be anything from furniture to machinery, computers, lab technology, communication equipment, or vehicles. Equipment valuation is not limited to any one piece of individual equipment. A valuation can be used to determine the value of a whole facility or multiple locations.
Typically, there are three different ways to approach equipment valuations. The favorable approach would depend on what type of equipment you would like to be appraised.
These approaches are:
- Sales Comparison Approach – this is the most commonly known of the three approaches. The process involves comparing the equipment to similar units in dealer listings, auctions, and interviews with dealers. Sales comparisons takes depreciation into account through ways of physical, functional, and economic devaluations.
- Cost Approach – this approach primarily focuses on the comparison of replacement versus updating the existing equipment. There are many variables that could affect this besides just the cost of the actual instrument. Things like shipping costs, manufacturer, design, and installation costs must all be taken under consideration.
- Income Approach – This type of approach is more specific than others, because you must speculate how much this instrument actually adds value to your business. It is uncommon to see a direct correlation between a piece of equipment and clear increase in profits, but this could be an ideal approach for some cases.
Each approach is unique to different needs of our clients. The experienced team at Ion Dental Group will work with you to help determine the appropriate measures to appraise your practice and equipment. Let Ion Dental Group take on the responsibility of getting you the most accurate information for your business. Call us at (800) 985-8047 to learn more about how we can best serve your dental practice, or you can email us at sales@IONDentalGroup.com and a representative will be in touch with you at your convenience.
Know Your Practice
ION Dental Group provides its Premium members with an annual Practice Summary Appraisal, Equipment Valuation, Regional Fee Schedule and Practice Performance Snapshot, giving them the data they need to plan for the future and make informed decisions.