The Prosperident Pulse #139 Feb 2024 - Information you can use in your practice

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The Prosperident Pulse #139 Feb 2024 - Information you can use in your practice

March 12, 2024

Here is Prosperident Pulse #139, our newsletter for February 2024. Want to receive our newsletter in your inbox every month? Click HERE to sign up.



Phone: 888-398-2327 Web: February 2024

The Prosperident Pulse
The "Dentaccountant"
Dr. Pat Little FAGD is one of Prosperident's longest-serving fraud examiners.
A former practicing dentist, Pat's unique qualifications include training in accounting and fraud investigation.
And did you know he is also an accomplished speaker? You can see him speak at Chicago Midwinter on February 22.
Tired of the same old presentations?
Prosperident has some great speakers, and we would love to liven up your event.
To find out more or book a Prosperident speaker for your society or study club click THIS LINK.
Here are some of the places you can find us soon:
Feb 22 Chicago Midwinter Chicago IL
Feb 24 Profitable Practice Symposium Fort Lauderdale FL
Feb 29 Planet DDS Orbit 2024 Atlanta GA
Mar 8 New Doctors' Summit Irving TX
Mar 20 Macomb Dental Society Troy MI
Apr 19 Michigan Dental Association Lansing MI
May 3 American Association of Orthodontists New Orleans LA
Jul 26 Star of the South Houston TX
Aug 24 South Carolina Dental Association Greenville SC
Sep 11 American Association of Oral and Maxillofacial Surgeons Orlando FL
Our Hall of Shame
Did you know that hundreds of people who have stolen from dentists have a permanent place in Prosperident's Hall of Shame?
Checking to see whether someone you are about to hire is listed there should be part of every hiring process. And because sometimes people with "baggage" change their names and other details, the HoS is searchable by city, state, and many other details.
And we do sometimes get those calls from dentists who have discovered one of their employees in the Hall.
The View from the CEO's Chair
Making a practice owner's life easier
Those are words we all want more of. I started assisting dentists in 1989, when being a practice owner was far less complicated.
I'm not waxing nostalgic or saying that things were better then. However, the demands on a practice owner both clinically and to run their practice were less.
One of the areas that has become more involved is the daily balancing activity that your office manager or receptionist should be doing at the end of each day, and your oversight over that process. These activities were simple (and universal) in 1989 but have become so difficult that many practice owners have simply given up on trying to oversee their collections and deposits.
Not exercising this oversight leaves a significant opening for embezzlers, and this abdication is a source of guilt for many of the dentists who call me with embezzlement concerns. They know that they have an oversight role, but the time commitment seems daunting, and they really aren't sure what they should be doing in any case.
So, let's make your life a bit simpler. What if we could divide your supervision into two parts - treatment oversight that takes place daily, and financial oversight that you do once a month? Treatment oversight should take five minutes or less, and financial oversight an hour once per month, and can even be outsourced if the proper setup is in place. You can read more about how to do this in an article that my colleague Scott Clifford and I wrote in Dental Economics HERE.
Shifting from comparing collections to deposits monthly instead of daily will save you a lot of time, will allow many of those pesky "timing differences" to self correct, and will make it easier if you choose to outsource this task.
Want to talk to me about how to reduce the embezzlement risk in your practice? Click HERE.
    Yours truly,

    David Harris
    We are Prosperident, Dentistry's Embezzlement Experts

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