Free Up Hidden Cash in Your Practice Before Year-End

The end of the year brings extra expenses—holiday bonuses, practice upgrades, personal celebrations, and year-end financial obligations. But what if you could cover some of those costs with money that's already yours? Many optometry practices have thousands of dollars sitting untouched in their accounts receivable, and it takes just one focused effort to free it up.

The Problem: Aging Claims Are Silent Cash Drains

Every practice has them: claims that sit in your system for 90, 120, even 180+ days. They're not technically written off, but they're not bringing in revenue either. They just age quietly in the background while your practice operates on tighter margins than necessary.

The longer a claim sits, the less likely it is to be collected. Industry data shows that claims over 90 days have significantly lower collection rates, and anything past 120 days becomes increasingly difficult to resolve.

The Solution: A Simple Weekend Review

You don't need to dedicate an entire week to fixing your A/R problems. Start with one straightforward action this weekend:

Pull your aging report and identify all claims that are 90+ days old. Don't worry about resolving them yet—just sort your report by oldest first and flag the problematic claims. Take note of patterns: Are certain insurance carriers consistently slow? Are specific claim types getting stuck?

Once you've identified these aging claims, schedule dedicated time at the start of the following week. Either assign your billing staff to tackle the list, or block time on your own calendar to make calls, refile claims, and resolve outstanding issues.

Why This Works

This approach is effective because it breaks the problem into manageable pieces. The weekend review requires minimal time—usually 30-60 minutes—and gives you a clear action plan. When Monday arrives, you or your team can work through the list systematically rather than wondering where to start.

Many practices discover $3,000-$10,000 or more in aging receivables that can be collected with a few phone calls and resubmissions. That's real money that can fund year-end bonuses, cover holiday expenses, or provide a financial cushion heading into the new year.

Make This a Regular Practice

While this exercise is particularly valuable before year-end, consider making it a quarterly habit. Regular A/R reviews prevent claims from aging in the first place and keep your cash flow healthier throughout the year.

The money is already yours—you've provided the service, submitted the claim, and earned the revenue. All that's left is to follow through and collect it.

Take 30 minutes this weekend to review your aging claims. Your December budget will thank you.