How To Protect Your Practice From Fraud

No one wants to believe that his or her practice could be vulnerable to fraud. But according a scary statistic found by David Harris, a dental fraud expert, dental practices have more than a 50% chance of becoming a victim of dental fraud. And this only includes the fraud that’s been detected.

Fortunately, there are ways to protect yourself and your practice from falling victim to fraud:

• Make sure you have an internal system in place that will prevent the same person from being able to write checks, process payment and be in charge of band reconciliations. There needs to be a checks and balances process.
• Install surveillance cameras in your office to view all key areas.
• Perform background checks on new office hires.
• Trust your gut instinct. If something doesn’t feel right, follow through with action.
• Set up regular meetings with your CPA to go over financial information and make sure everything matches up.

Taking these steps now can decrease the threat of employee theft or can expose anything suspicious that’s already going on. For more tips on protecting your practice, or with help implementing a protection plan, please contact Dental Bookkeeping today.

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