Derby Hospitals sees a reduction in manual processes and saves a considerable amount of time using the system’s reporting features
Derby Hospitals, an NHS Foundation Trust, has implemented capital accounting solution from Real Asset Management (RAM) to help manage its fixed assets worth around £400 million. The RAM solution has afforded the Trust a centralised and robust asset register which reduces the manual processes normally associated with verifying the location of mobile assets and reporting on their depreciation.
Derby Hospitals NHS Foundation Trust includes The Royal Derby Hospital and the London Road Community Hospital. The Trust serves a population of more than 600,000 in and around South Derbyshire and is one of the region’s largest employers with over 7,000 staff. The £400 million asset base includes land, buildings, transport, IT (and software), and medical equipment including large items such as X-ray machines and CT scanners, resulting in 7,400 live asset records on the register.
With such a significant and valuable asset base, it is vital for the finance team at Derby Hospitals to track and verify each individual asset regularly. Ian Dinwiddie, Capital Accountant at Derby Hospitals, comments, “The software is predominantly used as a day-to-day referencing system. We get enquiries from various departments about things such as the current asset value or over what period an asset is being written off. The system helps us access this information and therefore aids decisions about equipment usage and budgeting across the hospital.