Embezzlement News #79 February 2019

Dental Embezzlement News from Prosperident
Issue #79 — February 2019
Podcast Series
We are thrilled that our CEO is part of the Future of Dentistry event. This is a series of podcast interviews with some of the most influential people in dentistry. You can check it out HERE.
The Future of Dentistry Event
Liven up your meeting
Did you know that there are some topics that we will ONLY discuss at closed-door, live events?
Convicted embezzler, and LA Lakers fan Kristy Corral, before she spent a year in prison for embezzlement.
See us live if you want the full story.
Here are some places where we will be speaking soon:
Feb 6 Dr. Quynh-Thuyen Tran Study Club, Sugar Land, TX
Feb 8 Select Study Club, Evansville IN
Feb 8 Houston Asian American Dental Society, Houston TX
Feb 11 Wasatch Oral Surgery, Jordan UT
Mar 1 Ortho2 User Group Meeting, Fort Worth TX
Mar 13 Patterson Dental, Philadelphia PA
Mar 27 District of Columbia AGD, Washington DC
Apr 12 American Association of Endodontists, Montreal QC
Apr 13 New Dentist BOOST Study Club, Philadelphia PA
Apr 26 Maryland State Dental Association, Columbia MD
Apr 26 Star of the North Meeting, St. Paul MN
Apr 29 Vancouver & District Dental Society Vancouver BC
May 3 American Association of Orthodontists, Los Angeles CA
May 4 Richardson Group, Seattle WA
May 7 Seattle Study Club, Atlanta GA
May 8 North County Women’s Study Club, Carlsbad CA
May 9 Patterson Dental, Portland ME
May 10 Patriot Dental Conference, Foxborough MA
May 15 Patterson Dental Totowa NJ
Jul 8 University of the West Indies
Sep 13 Orthopreneurs Summit, Dallas TX
Oct 7 Colorado Prosthodontic Society, Denver CO
Nov 11 Thunderbird Study Club, El Paso TX
Nov 19 Memphis Dental Society, Memphis TN
To book us for your meeting or study club, click HERE or call us at 888-398-2327.
Did you miss a previous newsletter? We archive them HERE.

“My Day-end Report Balances to my Deposit, so I Must Be Safe From Embezzlement”
We hear this a lot. At the core of your practice management software is a concept called “double-entry accounting”. This means that a transaction mandatorily affects two different “accounts” maintained by your software.
So, for example, entering a dental procedure increases both your “charges” and the receivable due from that patient. Entering a payment decreases the patient’s receivable balance and adds to “collections”.
In a perfect world, stealing money would cause one of two issues; either the day-end report would not balance to the bank deposit if the amount stolen had first been entered as a payment in the practice management software.
Something To Talk About…
Technology…
There is nothing more useful, nor more detrimental, in our world than technology. The internet, computers, tablets and our smartphones are powerful tools and have made us the most progressive, connected and prosperous humans in history. But our beloved devices have also done a vast amount of harm. More harm than anyone could have predicted.

We’ve all read about the threats to our health, personal relationships, and our culture from being constantly connected. The debates over the health and cultural impacts will continue indefinitely, but I would like to draw to your attention to the risks that technology poses to your practice.
Never, ever, EVER, has it been easier for someone to have the ability to wreak havoc on your practice, because you’ve generously provided them with all the tools they’ll need to defraud you – a computer and an internet connection. As surely as technology has solved many of our business issues, like timely bank-runs and ensuring that bill payments are mailed on time every month; technology has made it easier than ever for a team member who is willing to study your habits to steal from you.
Practice management software, online banking, and Facebook business promotions are modern miracles for efficiency and growth. However, the flip side of using these amazing tools is that a would-be thief in your office can find a way to manipulate a system or device you use in your practice to steal from you. Technology makes embezzlement easier than ever. Ugh!
At Prosperident our mission is to be able to help and support you by developing ways to control, detect and eliminate embezzlement in your practice. We certainly don’t believe that every practice has a thief lurking among its valued team members, but we know that more than 60% of all dental practices will eventually succumb to a team member stealing. We always hope that you are not a part of this horrible statistic, and we will continue to work and grow to be there for you when you need us.
David Harris
CEO
We are Prosperident, Dentistry’s Embezzlement Experts