Happy New Year!<\/strong> Now that you\u2019re back in the swing from the Holidays, we\u2019ve put together for you a list of the most important reports we feel will prepare you for success in 2025! Have fun with running the below queries, while at the same time resolving to acknowledge the report outputs are your objective, x-ray analyses of where your practice stood in 2024.<\/p>\n 1) Standard Financials\/both month-to-month and January \u2013 December 2024 Practice stats.<\/strong> This will give you your new patient counts, your patient visits, your charges and your collections. What do you see month to month in terms of your high\/low months? Did you do something different in the months that were higher statistically? And repeat that action!<\/p>\n 2) Run your end of year Accounts Receivable.<\/strong> This is a number your accountant or CPA should ask for. You\u2019ll need this for your balance sheet.<\/p>\n 3) Review your Profit & Loss statements from month to month,<\/strong> run by either your accountant or your internal accounting software. Things to look for include: 4) Want to compare your expenses to what most chiropractic offices are doing?<\/strong> First, remember you want to compare you to you. But we can provide a breakdown of averages that you can look at and see where you may be high or low.<\/p>\n 5) Accounts Receivables: 30\/60\/90+ days<\/strong> 6) Retail Purchases<\/strong> \u2013 supplement\/vitamin sales, pillow\/therapy equipment (Durable Medical Equipment) sales.<\/p>\n 7) Get your Sales and Use Report<\/strong> off your management software to your accountant or CPA by the end of January for filing the Sales Tax Report. You\u2019ll also want to look at any independent contractors (cleaning services, IC massage therapists or other providers, snow plowing service, roofers, etc, etc) Provide their information and pay amount to your accountant by the end of January for 1099 preparation.<\/p>\n Once you have completed these reports and have assessed where your practice stands statistically, you can now:<\/p>\n \u2022 Update goals for 2025, Need help with any of the above? Contact Lisa \u2013 I can help!<\/p>\n Lisa Know where your practice stands statistically going into the new year. Happy New Year! Now that you\u2019re back in the swing from the Holidays, we\u2019ve put together for you a list of the most important reports we feel will prepare … Continue reading
\na. Your expenses – were your expenses in line with your projected budget?
\nb. Your net income \u2013 were you able to pay yourself along with your associate(s) and staff salaries corresponding to livable wages?<\/p>\n
\na. Can these be reconciled? Expect 60% recovery for accounts to 60 days old; 55% recovery for accounts 60-90 days; and 20% recovery for accounts 90 days and older. The exception here is Personal Injury and Workers Compensation A\/R, which are normally fully recoverable.<\/p>\n
\n\u2022 Review your marketing efforts, and
\n\u2022 Review your retail inventory.<\/p>\n
\nlisa@pmaworks.com
\n920-334-4561<\/p>\n","protected":false},"excerpt":{"rendered":"