Yes, there are only so many hours in a day (working week, whatever).
It sounds like you need to adopt that time-honoured biomeds' approach to the work of tackling tasks in order of priority.
Setting up a Risk-Based PM programme might be a good place to start (regardless of what contracts might "require").
When you assign Risk Levels to the various equipment types you look after, you may well find that carrying out routine electrical safety tests on patient beds comes way down the list (and therefore will probably never get done). I would suggest, "Repair when failed" might be a good maintenance support policy for run-of-the-mill patient beds.
