About Cleveland Clinic Foundation
Cleveland Clinic Foundation (CCF) is a non-profit academic medical center located in Cleveland, Ohio. A leading not-for-profit health system with 27 hospitals and 5,900 beds, faced challenges in asset depreciation that were negatively impacting operating margin. Through a strategic partnership with Harborside Health Asset Relifing Experts, CCF implemented a data-driven approach to reassess asset depreciation and enhance financial performance.
A Wave of Results
Through a strategic collaboration with Harborside Health, CCF achieved:
- Improved Operating Margins – Implemented asset depreciation strategies that enhanced overall profitability.
- Improved Financial Accuracy – A better reflection of depreciation expense that more accurately reflects the matching of revenues and expenses.
- Standardized Depreciation Methodology – A structured approach to asset depreciation ensured long-term financial performance.
Harborside Health’s Asset Relifing Solution
Asset Relifing is the process of reassigning an appropriate and accurate useful life to an asset. By aligning accurate and suitable useful life to assets, a healthcare organization enhances the matching of revenues and expenses, reducing depreciation cost, leading to improved operating margin.
Discover how Harborside Health can optimize your financial strategy.
Connect with our experts, Robert Polk at (832) 640-0153 or rpolk@harborsidehealth.com or Paul Shade at (312) 610-4627 or pshade@harborsidehealth.com to explore customized solutions for your healthcare organization.
Robert Polk
Managing Partner
Harborside Health
