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Prosperident Pulse Archive — August 2015 to February 2016

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This archive collects five issues of the Prosperident Pulse newsletter from August 2015 through February 2016. Use the table of contents below to jump to any issue.

Issues in this archive

August 2015

 
 
Dental Embezzlement News
Issue #36 -- August 2015
Did you miss a previous newsletter?  We archive them here.
See Us Live!
Here are some of the places we are speaking soon.  We'd love to see you at one of them.
 
Sept 11
Northeastern Society of Orthodontists, Providence RI
Sept 11 Davis Dental Lab, Wyoming MI
Sept 15 Limestone City Study Club, Kingston ON
Sept 17 Windy City Study Club, Elmwood Park IL
Sept 25 Sikka Summit San Francisco CA
Oct 30 Team Orthodontics, Phoenix AZ
Nov 5
ADA Annual Meeting, Washington DC
Nov 6 Dr. Bruce Fraser Study Club, Columbus OH
Nov 11 Yakima Valley Dental Society, Yakima WA
Nov 13 Academy for Orthodontic Excellence, Newport Beach, CA
Nov 24 Lexington Oral Surgery Study Group, Lexington KY
Dec 1 American Association of Orthodontist, webinar
2016
Jan 15 North Eastern District, Duluth MN
Jan 22 Long Island Dental Forum, Hauppage, NY
Feb 27 Ortho2 User Group Meeting, Las Vegas NV
Mar 4 American Academy of Dental Practice Administration, Beverly Hills, CA
Mar 25 Presenting to four study clubs, Plantation FL
May 5 Ontario Dental Association, Toronto ON
May 29 Journees dentiare internationales du Quebec, Montreal QC
 
Our presentations have great titles like "How To Steal From A dentist" and "How NOT to Hire the Wrong People in your Practice".
 
To book a great speaker for your meeting or study club, please click here or call us at 888-398-2327.
 
Prosperident's Mission
 “We eliminate uncertainty for dentists with embezzlement concerns and maximize financial and emotional recovery for victims.”
 
 
 
 
See David Harris' video interview with Dr. Suham Alexander of the Canadian Dental Association here.
  
 
 
 

 
EXTENDED -- Take our assessment questionnaire for FREE!
 
 
 
Our last offer to take our Embezzlement Risk Assessment Questionnaire (which normally sells for $79) for FREE sold out quickly, so the boss agreed to extend the offer until the end of August.
 
The Questionnaire takes ten minutes or less to complete, and is the most reliable indicator of whether a dentist has an embezzlement issue.
 
You can take the Questionnaire by clicking here.  We will email you back with your score and our recommendations.
 
A Note From Our CEO:
 
 
 
I
Why does it take YEARS for someone who embezzles to go to jail?

  
Something that surprises victims is the painful slowness with which the justice system operates.  Many victims expect, on making a complaint, that the police to immediately appear at their office or the suspect’s home and remove them in handcuffs.  What actually happens is quite different.

Before they arrest someone, the police need to investigate.  In a complex white collar crime like embezzlement, few police departments have the expertise to analyze transactions conducted in practice management software, so they normally wait for us to complete our investigation and provide them with a report.  Using our report as a starting point, they will then conduct their own investigation, which might include questioning the suspect, interviewing witnesses and possibly compelling banks to supply information on transactions through the suspect’s account.

Every police department exists in a climate of limited resources, so it must determine its priorities.  As you might expect, public pressure to deal with violent crime often diverts resources away from non-violent crime like embezzlement.  As a result, it might take six months or more after you have made a complaint before a detective is assigned, and then several more months before their investigation is complete.  Then the detective will review his or her findings with their supervisor to make a decision about whether there is sufficient evidence to meet with the District Attorney or US Attorney about moving the case into the court system.
 
As a result, it may take a year or so after police work is complete before an accused steps into a courtroom and an equal amount of time for someone to be tried, convicted, and sentenced.  So the entire process may take 3-4 years to conclude, and as I mentioned first-time offenders often receive seemingly light sentences. While I share the frustration of many victims about the speed and end results, I also understand the reasons why the system functions as it does, and how unlikely these factors are to change.
 
If you have embezzlement concerns about your practice, a great place to start is to take our Embezzlement Risk Assessment Questionnaire, which is free until the end of August.  Please click here to be taken to the Questionnaire.  It's now quicker than ever to complete the Questionnaire, and investing a few minutes of your time can save you a bundle.
 
Regards,

 
 


 
David Harris, MBA, CPA, CMA, CFE, CFF
Chief Executive Officer
 
 
 
 
Prosperident -- The world's largest dental investigation embezzlement firm

September 2015

 
 
Prosperident's Dental Embezzlement News
Issue #37 -- September 2015
Did you miss a previous newsletter?  We archive them here.
See Us Live!
Here are some of the places we are speaking soon.  We'd love to see you at one of them.
 
Sept 11
Northeastern Society of Orthodontists, Providence RI
Sept 11 Davis Dental Lab, Wyoming MI
Sept 15 Limestone City Study Club, Kingston ON
Sept 17 Windy City Study Club, Elmwood Park IL
Sept 25 Sikka Summit San Francisco CA
Oct 30 Team Orthodontics, Phoenix AZ
Nov 5
ADA Annual Meeting, Washington DC
Nov 6 Dr. Bruce Fraser Study Club, Columbus OH
Nov 11 Yakima Valley Dental Society, Yakima WA
Nov 13 Academy for Orthodontic Excellence, Newport Beach, CA
Nov 24 Lexington Oral Surgery Study Group, Lexington KY
Dec 1 American Association of Orthodontist, webinar
2016
Jan 15 North Eastern District, Duluth MN
Jan 22 Long Island Dental Forum, Hauppage, NY
Jan 28 Topsfest, Atlanta
Feb 27 Ortho2 User Group Meeting, Las Vegas NV
Mar 4 American Academy of Dental Practice Administration, Beverly Hills, CA
Mar 23 Oral and Dental Implant Surgery, Pittsfield MA
Mar 25 Presenting to four study clubs, Plantation FL
May 5 Ontario Dental Association, Toronto ON
May 29 Journees dentiare internationales du Quebec, Montreal QC
Coming soon
The Thomas P. Hinman Meeting, Atlanta
Chicago Midwinter Meeting, Chicago
 
Our presentations have great titles like "How To Steal From A dentist" and "How NOT to Hire the Wrong People in your Practice".
 
To book a great speaker for your meeting or study club, please click here or call us at 888-398-2327.
 
Prosperident's Mission
 “We eliminate uncertainty for dentists with embezzlement concerns and maximize financial and emotional recovery for victims.”
 
 
A promotion!
 
 
 Prosperident's CEO once described hiring Wendy Chediac as "the best hiring decision we ever made".  Her role in improving the company's efficiency has been huge.  So we are pleased to announce her promotion to Vice President Investigations, overseeing all of Prosperident's examinations.  Congratulations, Wendy!
 

 
EXTENDED -- Take our assessment questionnaire for FREE!
 
 
 
Our recent offer to take our Embezzlement Risk Assessment Questionnaire (which normally sells for $79) for FREE ended on Labor Day (when hopefully many of you were away from the office), so the boss agreed to extend the offer until September 15, 2015.  So you have one last chance to take the Questionnaire for FREE.
 
Completion takes ten minutes or less and the Questionnaire is the most reliable indicator of whether a dentist faces an embezzlement issue.
 
You can take the Questionnaire by clicking here.  We will email you back with your score and our recommendations.

Are Criminals Running your Practice? Dr. Mark Costes chats with Prosperident CEO David Harris

 
Hear Author, speaker, dental business coach and practicing dentist Dr. Mark Costes interview David here.
 
  
 
 
 
The Dentalpreneur Podcast w/ Dr. Mark Costes – Become More Profitable, Less Stressed and More Fulfilled in Your Dental Career
 
A Note From Our CEO:
 
 
 
I
Welcome Back!
 
 
With summer vacations now a fading memory for most of us, the kids back in school, cottages closed up etc., it's time to turn our minds back to our practices.
 
We have had a busy summer here at Prosperident -- we completed a major upgrade of our computer systems that increased our computing power by about 500%.  We also are in the process of implementing some new software that will help us do our work better and more quickly.  And to top it off, our active case load this summer was more than 30% higher than at the same time last year. 
 
To keep up with the workload, we have also been busy hiring and training people to add to our workforce, and I have been very pleased with the caliber of the people we have been able to attract.  I'll be telling you more about them in future newsletters.
 
One final development that I am excited about is that we have been working with a company that has been developing software that will be of tremendous value to dentists in protecting themselves from embezzlement.  I can't say much more right now, but the software is currently in the final testing stages and should be released to the market in the very near future.
 
So there are lots of exciting things happening here.  It meant that most of us got less time at the beach this summer than we had hoped, but for some very good causes.
 
Now that we are back in focus, it's time to talk about that nasty concept, embezzlement.  With 8-10% of dental practices in the US and Canada being embezzled each year, all dentists need to be aware of the possibility that you may be a victim.

A fantastic diagnostic tool is our Embezzlement Risk Assessment Questionnaire, which is free until the middle of September.  Every practicing dentist should do this basic check.
 
Please click here to be taken to the Questionnaire.  It's now quicker than ever to complete, and investing a few minutes of your time can save you both money and heartache.

Regards,

 
 
 


 
David Harris, MBA, CPA, CMA, CFE, CFF
Chief Executive Officer
 
 
 
 
Prosperident -- The world's largest dental investigation embezzlement firm

December 2015

Prosperident's Dental Embezzlement News
 
Issue #40 -- December 2015
In This Issue:
  • Embezzlement's biggest myths (continued)
  • Meet our newest Certified Fraud Examiner
  • Upcoming speaking dates
Jan 15 North Eastern District, Duluth MN
Jan 22 Long Island Dental Forum, Hauppauge NY
Jan 28 Topsfest, Atlanta GA
Feb 24 Morrone and Kaye Orthodontics, Moorestown NJ
Feb 27 Ortho2 User Group Meeting, Las Vegas NV
Mar 4 American Academy of Dental Practice Admin, Beverly Hills CA
Mar 23 Oral and Dental Implant Surgery, Pittsfield MA
Mar 25 Four study clubs, Plantation FL
May 5 Ontario Dental Association, Toronto ON
May 13 Eastside Dental Study Club, Cincinnati OH
May 29 Journees Dentiare Internationale du Quebec, Montreal QC

Wendy Askins, MBA, CFE
We would like to congratulate Wendy Askins on the completion of the Certified Fraud Examiner designation. 
 
Wendy, who is one of our longest serving team members, heads our Orthodontic Examination Department. 
 
The CFE is the "gold standard" certification for fraud investigation.  Way to go, Wendy!
Embezzlement's Biggest Myths (continued)
Last month we started an article outlining the things most doctors misunderstood about embezzlement.  The online news site DrBicuspid.com saw the first part of the article and asked if we would develop it into a piece suitable for its online publication, which we were happy to do.
 
DrBicuspid
 
You can read the full article on DrBicuspid's web site here.
This Month in Our Web Store
The boss said make it good, so we did.  Until December 31, everything in our web store is 50% off the regular price.  Check it out at www.dentalembezzlement.com/store
 
 
Also, we should mention that the prices for several of our investigative services will be increasing on January 1, so if you think you need us and want to lock in 2015 pricing, please contact us before December 31.
A Note From Our CEO
 
With the Thanksgiving turkey eaten, and with Christmas decorations erupting everywhere, it's the time of year when I normally become a bit introspective.
 
It's been a phenomenal year for Prosperident; we have progressed in so many areas.  Our computer horsepower has quintupled, our investigative prowess keeps growing, and we have reduced the average time for completing an investigation by almost 25%.
 
We are also excited about our involvement with Shieldr -- this affordably-priced embezzlement monitoring software is now testing in a few dozen offices.  The Shieldr programming team continues to expand the practice management software that Shieldr can work with (it now monitors Eaglesoft, Dentrix and Open Dental systems, with Practiceworks and Softdent integration imminent).  In addition to embezzlement monitoring, Shieldr virtually eliminates a doctor's dependence on printed reports by elegantly organizing all important financial information on your smartphone.
 
Even more exciting for me is the people with whom I am privileged to work.  Prosperident has collected a team of incredibly talented and motivated people who make working here a joy.  In 2015, we have promoted several people into new positions and all have moved capably into their new roles.  We have made several excellent new hires.
 
Sadly, we have also lost some friends this year, including one of our "originals", Dr. Roel Wyman, who passed away a few months ago.
 
On behalf of everyone at Prosperident, I hope that you and your family have a wonderful (and embezzlement free) holiday season.
 
David Harris, Chief Executive Officer
Visit our website -- www.dentalembezzlement.com
 
Did you miss a previous newsletter?  We archive them here.
Prosperident -- the world's largest dental embezzlement investigation firm
888-398-2327

January 2016

Prosperident's Dental Embezzlement News
 
Issue #41 -- January 2016
In This Issue:
  • My Embezzlement Problem is Solved -- The Suspect Just Quit...
  • Upcoming speaking dates
Jan 15 North Eastern District, Duluth MN
Jan 22 Long Island Dental Forum, Hauppauge NY
Jan 29 TopsFest, Atlanta GA
Feb 24 Morrone and Kaye Orthodontics, Moorestown NJ
Feb 27 Ortho2 User Group Meeting, Las Vegas NV
Mar 3 San Diego Dental Society, San Diego CA
Mar 4 American Academy of Dental Practice Admin, Long Beach CA
Mar 23 Oral and Dental Implant Surgery, Pittsfield MA
Mar 25 Four study clubs, Plantation FL
May 5 Ontario Dental Association, Toronto ON
May 13 Eastside Dental Study Club, Cincinnati OH
May 29 Journees Dentiare Internationale du Quebec, Montreal QC

 
Did you miss a previous newsletter?  We archive them here.
My Embezzlement Problem is Solved -- The Person I Suspected Just Quit...
Occasionally, a dentist who called us with embezzlement concerns subsequently tells us that, because the suspected staff member has now quit or been fired, the dentist believes that the “door is closed” on this matter, and no further action is required.
 
Are they right about this?
 
In a word — NO!
 
It’s dangerous to think that nothing further needs to be done because the employee about who you were concerned has left.
This Month in Our Web Store
If your New Year's resolution is to see if you are being embezzled, we are here to help.
 
Our popular Embezzlement Risk Assessment Questionnaire, which normally costs $79, is yours this month for only $19.  A pretty small price to look at the likelihood that your practice is being embezzled.  Check is out at www.dentalembezzlement.com/store
 
A Note From Our CEO
 
Early in December, I got a very frustrated call from a dentist's spouse.  The source of her frustration was that when they suspected embezzlement several months earlier, she had hired a well-known firm of forensic accountants.  After investing several months (and many thousands of dollars) with the forensic accounting firm, she felt that she was no closer to having an answer than when she engaged the accounting firm.

In speaking with her, my impression was that the accounting firm really didn't understand how to look for dental embezzlement and was visibly "grasping at straws". One of the things the forensic accounting firm billed for examining was how many vehicles the suspected employee owned.  Results of such a search are circumstantial-- even if the suspect owned several vehicles, this would not prove that she was embezzling, and more importantly, how she was stealing.  This oblique approach suggested that this firm didn't have a more direct way to solve this problem.

This couple decided to terminate the engagement of the forensic accountants and hire us.  I'm pleased to report that we were able to deliver the answers that they were seeking within a month, and for less money than they had already been billed by the forensic accounting firm that produced no tangible outcome for them.  The clients were pleased with the results we got, and the speed with which we obtained them.

What this reinforces to me is that investigating dental embezzlement is a specialized field, and that even people who understand other fraud may struggle with this work.  Our people all understand both dentistry and embezzlement.  Our examiners typically hold an accounting degree and a formal fraud investigation qualification, and most have spent their working lives in the dental field.

Even within our narrow niche, many of our people are sub-specialized.  For example, certain dental specialties (e.g. oral surgery and orthodontics) have business processes and software quite different from other branches of dentistry, and we have examiners who specialize in these files.  We also have team members who deal with specific situations, like fraud or misrepresentation on the part of a seller in a dental practice sale.

If you are a dentist who is an embezzlement victim, we would welcome the opportunity to discuss your situation and how we could assist.  Please feel free to email us here and tell us about your situation. We will be happy to schedule a time to chat with you.
 
Thanks for reading.
David Harris CPA, CMA, MBA, CFE, CFF
Chief Executive Officer
Prosperident -- the world's largest dental embezzlement investigation firm
888-398-2327
Visit our website -- www.dentalembezzlement.com

February 2016

Prosperident's Dental Embezzlement News
 
Issue #42 -- February 2016
In This Issue:
  • Guest Column -- Sandy Baird MBA
  • Examiner Profile -- Anne Bernacki JS, MS
  • Upcoming speaking dates
Feb 24 Morrone and Kaye Orthodontics, Moorestown NJ
Feb 27 Ortho2 User Group Meeting, Las Vegas NV
Mar 3 San Diego Dental Society, San Diego CA
Mar 3 Dr. Ask Vasanthan Study Club, Sacramento CA
Mar 4 American Academy of Dental Practice Admin, Long Beach CA
Mar 4 Eastern Panhandle Dental Association, Martinsburg WV
Mar 23 Oral and Dental Implant Surgery, Pittsfield MA
Mar 25 Four study clubs, Plantation FL
May 5 Ontario Dental Association, Toronto ON
May 13 Eastside Dental Study Club, Cincinnati OH
May 29 Journees Dentiare Internationale du Quebec, Montreal QC
Oct 15 Pacific Coast Society of Orthodontists, Palm Springs CA
Nov 10 Carestream Global Oral Health Summit, Las Vegas NV

Examiner Profile
Anne (Joseph) Bernacki JD, MS
 
Senior Examiner Anne Bernacki was, as they say, on her way to a successful career as an attorney when she got bitten by the investigation bug. 
 
Like many at Prosperident, Anne comes from a dental family.  Her father is an orthodontist and both grandfathers were dentists.
 
Anne completed her law degree at Duquesne University and has a graduate degree in Fraud and Forensics from Carlow University.
 
Anne heads our Litigation Support group, which provides assistance to attorneys in matters involving practice purchase disputes, lost income claims and similar matters.
 
Did you miss a previous newsletter?  We archive them here.
Guest Column -- Sandy Baird MBA
 
As our regular readers know, we sometimes feature guest columns from people we consider to be bright lights in dentistry.
 
This month's guest is Sandy Baird.  Sandy is a consultant with broad knowledge and a particular interest in embezzlement. She is also a long-time friend of our CEO, David Harris.
 
We periodically share our knowledge on how to avoid making hiring mistakes.  Sandy recently provided us with an excellent article with the compelling title "How do you Stop an Embezzler? DON’T HIRE ONE!".  This article offers some valuable practical suggestions that may well help you "dodge a bullet" when hiring.
 
 
Sandy's website is www.bairdconcepts.com, and her phone number is 877-511-4759.  Thanks for being our guest, Sandy!
This Month in Our Web Store
This month's offering isn't technically from our web store.  Instead, we are offering a $500 credit against any investigation for which we are retained between now and February 28, 2016.
 
Simply mention this newsletter to get the credit, which our attorneys insist we tell you cannot be combined with any other offer.
A Note From Our CEO
 
I'd like to share a letter we got last week, the kind of letter we absolutely love getting.  The recipient was Supervising Examiner Wendy Askins MBA CFE.  The letter reads:
 
I wanted to thank you for your assistance in processing my claim with my insurance company after I was embezzled from a couple of years ago.  It was an absolute pleasure working with you in spite of the nature of the situation. 

Prosperident is a wonderful company based on my dealings with them and they have a gem in having you on their team.  I have never known anyone with a clearer understanding of accounting and dealing with different management software to get to the facts in a financial situation.  Your skills are amazing to me and you could certainly have a job with me if you ever wanted.

I also appreciated the tact and great people skills you have in clarifying to the accountants and researchers from the insurance company.  Sadly, their skills and knowledge of the business was far less than yours as you patiently explained the obvious facts from your research.

I just wanted you to have this letter of recommendation from me for your records because it’s rare that I come across someone like you that I can confidently give my highest recommendation to.  Thank you so much for the great work you did for me!
 
If you are a dentist who is an embezzlement victim, we would welcome the opportunity to discuss your situation and how we could assist.  Please feel free to email us here and tell us about your situation. We will be happy to schedule a time to chat with you.
 
Thanks for reading.
David Harris CPA, CMA, MBA, CFE, CFF
Chief Executive Officer
Prosperident -- the world's largest dental embezzlement investigation firm
888-398-2327
Visit our website -- www.dentalembezzlement.com
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