The end of the year is symbolic in so many different ways. When reflecting on the past 365 days, there is always so much growth, whether you realize it or not. While you bask in all your accomplishments from the last year, there are still a few loose ends to tie up before the start of 2020. There is the accounting, the end-of-year administrative tasks, new year insurance changes, on top of the already overwhelming end-of-the month tasks, it can be easy to have things fall through the cracks. Here are a few tasks to keep at the top of your to-do list!
Accounting
Managing financials is a top priority, without it your business would be more of a hobby. December is one of the most important financial months of the year. Purge your records of any inactive vendors and inaccurate information, you may even find some relationships are worth reconnecting. Also double check all of your employee information before filing W-2’s, you will thank yourself later.
Audit Your Website
Once your website is live and running, it is easy to let it sit. As a small business, your website is one of the main sources of information about your services. Your messaging should align with your goals for the upcoming year. Regular updates to your website will help you rank higher on search engines, which will bring more organic leads directly to your site. It will also help more of the leads that visit your website convert to new customers. If a prospective client comes to your website and sees that the last post was from 5 years ago or that it looks like it was updated last in 2006, then they may assume that you are no longer in business. Make sure your site is fresh and reflects your business as it is today.
Billing
The end of the month is always hectic for medical billing companies. The end of the year is even more overwhelming. Patients are trying to get in before the end of the year, providers are taking time off for the holidays and many times notes don’t get done in a timely manner. Remind your clients to stay on top of their claims. They will be on you in January asking about collections if you don’t ensure everything is out in time. December is an important month to close out quickly as many groups will want their annual financials for January planning meetings and forecasting. Finally, get ready for deductibles to reset, and for fee schedules to change! Make sure you have the most up to date information from your clients to minimize January speed bumps.
To make sure that you are prepared for 2020 download our End Of Year Checklist. Don’t let winter freeze you’re collections, we are here for extra help with verification’s as deductibles reset.