Case Study: MedStar Health achieves FASB 842 compliance and saves ~$23,000 and 900 hours annually with MRI ProLease Direct

Why Medstar Health Chose A Fasb 842 Compliant Solution With Lease Administration Benefits

MedStar Health, a nonprofit health system with hospitals, ambulatory centers and a large research institute, faced the ASC 842 (FASB 842) compliance challenge in 2019 and was struggling with poor data quality from outsourced real estate services. To address this, MedStar Health selected MRI ProLease Direct to provide a FASB 842–compliant lease administration solution.

MRI ProLease Direct implemented its lease administration platform to consolidate equipment and real estate leases into a central repository, improve data accuracy, and streamline review and approval workflows. As a result, MedStar Health achieved ASC 842 compliance while saving approximately $23,000 per year and roughly 900 hours annually.

MedStar Health

Katie Perry

Director of Financial Services