Prosperident News #39, Nov 2015

Prosperident’s Dental Embezzlement News
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Issue #39 — November 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.
Nov 11Yakima Valley Dental Society, Yakima WA
Nov 13Academy for Orthodontic Excellence, Newport Beach, CA
Dec 1American Association of Orthodontists, webinar
Jan 15North Eastern District, Duluth MN
Jan 22Long Island Dental Forum, Hauppauge, NY
Jan 28Topsfest, Atlanta
Feb 27Ortho2 User Group Meeting, Las Vegas NV
Mar 4American Academy of Dental Practice Administration, Beverly Hills, CA
Mar 23Oral and Dental Implant Surgery, Pittsfield MA
Mar 25Presenting to four study clubs, Plantation FL
May 5Ontario Dental Association, Toronto ON
May 29Journees dentiare internationales du Quebec, Montreal QC
Coming soonThe 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.”
What is “Special Investigations”?
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Scott Clifford had spent his adult life in dental offices when he and Prosperident found each other. He quickly proved himself both a brilliant investigator and a willing and patient mentor to Prosperident’s team.
Scott now holds an enviable position — he oversees Prosperident’s Special Investigations group, which handles some of our most complex files (including spouses embezzling from dentists, and dentists in group practices embezzling from each other).
SI is the place where “the unusual is a daily occurrence, and the unimaginable happens about once a month.”
Scott’s wife Rose is also now working with us, and we expect that it his genius-IQ daughter will eventually feel the calling.

Eight Things Dentists Misunderstand About Embezzlement

A common topic for our speakers is what dentists misunderstand about embezzlement. Here is our list:
MYTH #1 — Embezzlers only steal cash, and it is difficult for thieves to monetize other forms of payment.
FACT — It is simple for a thief to turn a check, credit card payment or even an electronic funds transfer into cash.
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MYTH # 2 — Embezzlement can’t be happening in my practice because my daysheet always balances to my bank deposit.
–Embezzlers have gotten good at “cooking” your daysheet so that it
balances to what is left after they steal. The only thing that your daysheet and deposit being equal means is that your thief can add.
MYTH #3 — Most embezzlement is caused by making hiring mistakes.
— While it is true that “serial embezzlers”
usually can easily find
work in a new dental office, the vast majority of our casework involves
long-term employees who have decided to start embezzling.
MYTH #4 — If embezzlement is happening, my accountant will spot it.
— in a 2007 study of embezzlement, the American Dental Association
found that less than 15% of embezzlement was identified by accountants.
This is not the result of any failing on their part — most dentists
ask the lowest cost mandate, and this means that the accountants are
doing accounting but no analysis.
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Financial automation and protection for dentists
A Note From Our CEO:
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Six things you may not know about Prosperident
We talk about embezzlement quite a bit, but we are sometimes a bit shy when it comes to talking about ourselves. Here are a few things you may not know about us:
1. We did our first investigation in 1989 (on a manual “peg-board” system), before we had a cell phone or an internet connection. We have grown a lot since then in both size and technology.
2. We only investigate dental embezzlement and do not assist physicians, physical therapists or anyone else.
3. Everyone who works here has a dental background. 20% of Prosperident’s people have at least one parent who is a dentist.
4. Our work is completely stealthy and is normally done through the Cloud — it is rare that we need to be physically present when we are doing an investigation.
5. Our head office is located in Nova Scotia, Canada (known as “Canada’s Ocean Playground”), but more than 60% of our work force lives in the US, and is spread out across both coasts and the middle. We have team members on both coasts, some who inexplicably do not live near an ocean.
6. We offer four kinds of help to dentists:
  • ● We work with dentists who have already confirmed embezzlement to find out what happened and maximize recovery.
  • We assist dentists who have concerns that embezzlement may be happening in their practices.
  • ● We work with dentists who want a “prophylactic” look at their practices to make sure that embezzlement isn’t happening.
  • ● We review control systems in use in an office to identify where improvement can be made.

Please feel free to call us (our toll-free phone number is 888-398-2327) if you think that we can help you.

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