Sage Enhances Hospital Asset Tracking for Accuracy
Sage introduces enhanced software for healthcare systems to track fixed assets and calculate depreciation, aiming for improved financial accuracy and compliance.
CENTURY SAGE has updated its asset tracking software designed for hospitals and health systems. The enhancements aim to provide finance leaders with a clearer, audit-ready view of fixed assets, from imaging equipment to facility infrastructure.
Healthcare organizations often face discrepancies between physical asset records and their fixed asset subledger. These gaps can lead to "ghost assets," missed retirements, and inaccurate in-service dates, distorting depreciation, property taxes, and financial statements. Sage Fixed Assets is positioned to bridge this gap by integrating operational tracking with financial reporting. Technologies like RFID, RTLS, and barcode scanning are supported to improve asset identification and location.
The software supports over 50 depreciation methods, including MACRS, ACRS, and straight-line. This flexibility assists hospitals in meeting U.S. tax and financial reporting requirements for fixed assets. Sage emphasizes that accurate asset tracking is crucial for reducing financial risk and supporting informed decision-making.
Sage Fixed Assets helps healthcare organizations ensure that capitalized assets, useful lives, and depreciation methods accurately reflect reality. This is vital for the correctness of both tax and book depreciation, supporting long-term financial planning and compliance.