5 Ways for You to Protect Your Dental Practice from Fraud
It can be difficult for dentists to believe that their dental practices can fall victim to fraud. However, David Harris, a dental fraud expert, has found that dental practices have around a 50% chance of falling victim to dental fraud at some point during the life of the practice. And of course, this is only the dental fraud that has been detected and reported.
5 Ways to Fraud-Proof Your Practice
As scary as that statistic is, there are a few ways for you to protect your dental practice from any kind of fraud:
- Background Checks – Perform thorough background checks on any employees before making new office hires.
- Checks & Balances – Make sure an internal system is in place that will prevent the same employee from writing checks and processing payment. Even the best employee may give in to temptation if given the chance.
- Cameras – Make sure cameras are set up in all the important areas of the office, especially anyplace money is kept or handled.
- Regular Check-Ins – Set up regular meetings with your CPA in order to go over your books and make sure everything matches up.
- Trust Your Gut – If you have suspicions or if something doesn’t feel right, trust your gut instinct and follow through.
It can be scary to admit that your practice may be vulnerable to fraud, but you can decrease these odds by following the advice above. For more information on keeping your dental practice successful and safe, please contact CTC Associates.