Protecting Your Dental Practice from Fraud

Stop FraudIt can be difficult to consider that you and your dental practice are vulnerable to fraud. However, according to dental fraud expert David Harris, your dental practice has more than a 50% chance of falling victim to dental fraud. And this is only according to the dental practice fraud that has been detected and reported. Your chances may be even higher than this.

How to Protect Your Practice from Fraud

Luckily there are a few ways that you can protect yourself and your dental practice from being vulnerable to fraud. These include:

  • Checks & Balances – It’s important to have an internal system in place that prevents the same employee from having the ability to write the checks, process payment, and be in charge of reconciliations. There needs to be a checks and balances process in place to keep your employees accountable.
  • Cameras – It’s a good idea to have surveillance cameras installed in the key areas of your office. Including the front desk, the back offices, and anywhere else that could be a problem area.
  • Background Checks – Make sure background checks are performed for all new hires before bringing them onto your staff.
  • Know Your Finances – You should consider making regular appointments with your CPA to go over the financial information for your dental practice. Use these appointments to make sure all the numbers match up correctly.
  • Trust Yourself – Lastly, it’s important to trust yourself and your gut instinct. If you have a feeling that something is off, follow through.

Taking the above steps can help you to protect yourself and your dental practice from fraud. Make sure your employees know that they can report anything suspicious to you and that you’ll take it seriously.

For help with protecting yourself from fraud, or for any other dental consulting needs, please contact CTC Associates today.

Posted on Mar 16, 2018
Image Credit: © Dreamstime.com

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