Prosperident’s Dental Embezzlement News
Happy Anniversary, Prosperident!
We celebrate two anniversaries this month. Prosperident was founded in August, 1989, so this month we have been in business for 27 years.
Also, this is the fourth anniversary of our newsletter. Issue #1 went to about 2,000 people; the current issue will reach over 100,000 readers.
In This Issue:
- Tell Us Your Embezzlement Story
- The “Hall of Shame”
- Upcoming Speaking Dates
- A note form our CEO
|Aug 4||Alabama AGD, Destin FL|
|Sep 9||Seattle Study Club, Houston TX|
|Sep 21||Canadian Dental Protective Association, Toronto ON|
|Sep 30||Calgary Specialists Study Club, Calgary AB|
|Oct 13||Sunset Study Club, Portland OR|
|Oct 15||Pacific Coast Society of Orthodontists, Palm Springs CA|
|Oct 21||Argyle Group, Ottawa ON|
|Oct 22||Alberta Society of Dental Specialists, Edmonton, AB|
|Oct 28||Spectrum Day, Toronto ON|
|Nov 4||PEAK Education, Novi MI|
|Nov 10||Carestream Global Oral Health Summit, Las Vegas NV|
|Nov 16||Harbor Dental Society, Lakeside CA|
|Jan 18||St Helens Shadow Study Club, Vancouver WA|
|Jan 26||topsOrtho topsFest, Newport Beach CA|
|26 Jan||Manitoba Dental Association, Winnipeg MB|
|Feb 3||Newport Harbor Academy of Dentistry, Newport Beach CA|
|Feb 23||Ortho2 UGM Anaheim CA|
|Feb 24||Chicago Midwinter Meeting, Chicago IL|
|Mar 9||Greater Philadelphia Valley Forge Dental Society, Philadelphia PA|
|Mar 10||Pacific Dental Conference, Vancouver BC|
|April 7||UCSF Alumni, San Francisco CA|
Our most-requested presentation is called “How To Steal From A Dentist.”
To book us for your meeting or study club, click here
or call us at 888-398-2327
Prosperident Hall of Shame
We have recently updated our Hall of Shame
so that it profiles over 150 embezzlers. Are you curious whether one of them is working for you?
Did you miss a previous newsletter? We archive them here.
Dentists — Tell Us Your Embezzlement Story
Have you been embezzled? Tell us your story here
, and receive a $500 discount on our Office Protection System preventative product.
You can learn more about Office Protection System here
Our CEO is normally pretty camera-shy. If I didn’t think it would get me fired, I’d say that he has a great face for radio :-).
Wishful thinking is something I encounter on a daily basis.
Having your practice be embezzled is definitely an unpleasant experience, and it is understandable that dentists will either unrealistically wish that the problem will self-correct, or will cling to the belief that there is a “magic pill” that will somehow provide safety from the scourge of embezzlement.
I hear many justifications for dentists believing that they are embezzlement-proof. A common postulation is that paying your employees well protects you. This assumes that financial need is the catalyst for embezzlement (often it isn’t) and that the extra dollar or two per hour you pay above the going rate will somehow scratch that itch (it won’t — the typical embezzler steals between 2-4% of monthly collections).
Another popular, but misguided, belief is that refusing to take assigned insurance benefits deters embezzlement. I have explained to many doctors that this is simply an internal policy, of which the insurance companies are unaware (and therefore would pay an “assignment” claim originating from that office if received). Also, it is no harder to steal payments from patients than insurance payments.
I had a dentist ask me yesterday if having his spouse sharing front desk duties would stop embezzlement. I mentioned that there are lots of ways for a front-desk person to steal without the involvement or notice of co-workers, and also that the loyalty of a spouse isn’t always absolute, as many marriages end in divorce. I don’t think I made his day.
So what does work? First, most dentists can do a much better job of screening job applicants (check out this article
). Second, many dentists have had success in adjusting how their offices function to eliminate embezzlement “hotspots” and to force would-be embezzlers to steal in ways that are more likely to be caught. Our Office Protection System
product can help you do this.
And finally, our Embezzlement Risk Assessment Questionnaire
is an excellent tool for monitoring the behavior of your employees. For the month of August, the questionnaire is available for half the regular price.
Enjoy the rest of your summer!
David Harris CPA, CMA, MBA, CFE, CFF
Chief Executive Officer
Probability of you being embezzled in your career -60%
Probability that you will regret deleting this newsletter if that happens -100%