Here is a good example of why yearly inspections are needed. I was checking out a hydrocollator (heating tank for the the hot packs) and it was reading over 2 amps of electrical leakage current. The maximum allowable under code is 300 MICRO amps! Had someone been touching this unit and managed to ground themselves, it would have been a major electrical shock and possibly death.
Here you can see how the heating element has split and is allowing the electrical current to directly enter the water in the tank and thereby also making a connection to the metal tank itself.
And here is what a new heating element inside a hydrocollator looks like. The thing is, unless you inspection and regularly check the equipment out, you would never know the possible hazard in your clinic.