We are seasoned equipment management professionals with practical business and technical experience. We offer the following equipment asset management consulting services:

Equipment Service Contract Database Development

Many contract management repositories simply do not have the necessary detail for proper management of equipment service contracts. As a result, you and your organization are at high risk and not in full control of supplier obligations, associated costs, contract terminations, or regulatory compliance. Our structured service contract assessment allows you to proactively manage vendors, validate contract-related costs and performance, ensure timely contract cancellation or change, and delivers valuable information to improve contracting policies.

Our process begins with an inventory of your equipment service contracts and identification of related equipment assets:

  • Document and centralize all equipment service contracts and identify equipment covered. A set of basic equipment service contract data includes: Contract Owner, Unit/Department Name, Unit/Department Account Code, Contract Status (Active, Expired, Renewal Pending, Renewed, Concluded, Terminated, Pending or Declined), Internal Contract ID, Internal Purchase Order Number, Contractor Name, Contractors Contract Number (if applicable), Coverage Name/Level, Contract Start Date, Contract End Date, Line Item Equipment Assets Covered (relation), Line Item Coverage (including performance and activity timing/frequencies), Line Item Coverage Dates, Line Item Annual and Adjusted Costs, and Total Annual and Adjusted Contract Costs.
  • Develop and implement standard processes and procedures for contract management and establish alerts to pending contract expirations.
  • Analyze the value each contract is bringing vs. the annual cost to identify opportunities to consolidate, renegotiate, or eliminate contracts and vendors.

For equipment asset reference, we link the contract to one or multiple equipment assets in your asset repository. Don’t have a clean asset repository?

Physical Assets Inventories / Data Cleansing

If you do not have a clean asset repository, consider our physical assets inventory and data cleansing services. We plan and manage your physical assets inventory project to verify the accuracy of your equipment assets inventory.  The physical inventory is performed on a book to floor basis, for targeted assets located in your facilities.

  • An initial database is created utilizing the master inventory supplied by your organization that represents each equipment asset expected to be found during the field inventory process.
  • We will review locations and floor plans for each facility to identify any areas of the facilities that may require special attention. Special instructions and contact information are reviewed (i.e. security policies for access to facilities, schedules, etc.).
  • Using Budget Guard’s proprietary software, the data is collected and captured in the field with mobile devices. Pictures are taken of all assets with close-up images of asset tags, brand names, and nameplates for data verification purposes.
  • All assets are mapped to industry-specific data master, such as UMDNS or GMDN nomenclature for healthcare organizations.
  • A final inventory is delivered in PDF and Excel format.
  • We can also utilize the finished asset inventory to scrub the asset data in your existing computerized maintenance management software (CMMS) or assist you with migrating to a new CMMS.

A set of basic equipment asset data includes: Facility Name, Unit/Department Name, Unit/Department Account Code, Physical Location or Assigned Location (for mobile assets), BG Asset ID (unique ID assigned to the equipment by Budget Guard), Internal Asset ID (unique ID assigned to the equipment by your organization), Contractor ID (unique ID assigned to the equipment by the current contractor, if applicable), OEM System ID (unique ID assigned to a system and components by the manufacturer, Equipment Asset Description (utilizing standard nomenclature systems), Manufacturer Name, Model Name, Model Number, Model Code (for medical equipment models that are included in the FDA’s Global Unique Device Identification Database (GUDID), Date Manufactured (if available); Acquisition Date (if available); and Acquisition Cost (if available).

The more complex your asset inventory is, the more complex the registration and contract management process will be. In all cases, you will need to start with a clean registration of your service contracts and an accurate database of related assets. Once completed, you will have the following:

  • A link between your service contracts and related equipment assets. This will immediately support your reactive and planned maintenance processes and allow you to make better decisions.
  • Alerts and notifications in your process or contract systems that will immediately help you to timely process contract cancellations or renewals.
  • Links to scanned contract contract documents to ensure upkeep of an accurate, single database for all contract information.
  • An improved process that will help you to evolve to the next level of maintenance contracting and equipment asset lifecycle management.

Cyber-security Inventory

Our physical asset inventory can be expanded to include IT parameters for all assets connected to your network. We utilize cutting edge passive scanning capabilities to discover connected medical devices available on your network. We utilize the parameters collected from each asset on the network along with its algorithms and match it to the equipment asset profiles established during our physical inventory to maintain a robust record of all connected devices that are subject to network monitoring.

A set of basic IT parameters added to your equipment asset data include: IP address, MAC address, Port numbers, Services, Applications, Hostname, Operating system and version, software version, and other network data. We can then feed the information into your CMMS and correlate the data based on a number of parameters.

Service Management Consulting

Does your in-house service management program meet your needs – and your budget? Establishing and maintaining an equipment service management program is a demanding responsibility. For organizations with in-house service departments, each facility or department may contain equipment that requires varying levels of service and expertise that your in-house group can not support. That’s why many organizations today are outsourcing their equipment service departments to external management companies. These arrangements promise to lower your overall equipment maintenance and repair costs and alleviate administrative burdens. But how do you know you’re getting the appropriate level of coverage under the most economical arrangement? Is it possible to make your existing in-house program more efficient? We provide an independent evaluation of in-house program performance, identify key criteria for a successful in-house program, and develop a plan to improve performance. We also provide optional interim management during periods of transition and to oversee change.

Contact us to get started today!

We offer nationwide services and welcome the opportunity to serve your organization.

Telephone: 877-326-7968

Email: info@budgetguard.com