Introducing Prosperident

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Prosperident is the world's largest dental embezzlement firm

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  • Means that, by the time you get to the midpoint of your career, 59% chance of being a victim
  • Thefts tend to follow two profiles. All of these things are effective at protecting against one of them, and completely ineffective against the other
  • Receptionist sickReplacement receptionist workingCall from inseco gets put throughYou’re annoyed – normally receptionist handlesSpeaking with dental assistant at insecoYou grab chart. What she is saying doesn’t correspond to what is in chart. She sends you claim history …
  • David
  • Don’t discuss at this point – simply put up slide“with the possible exception of #7, not bad ideas, but …
  • David>10% of you are being stolen from TODAY.
  • David
  • Introducing Prosperident

    1. 1. Get Rich Quickly –Steal From A Dentist
    2. 2. Prosperident is the world’s largestdental embezzlement investigationfirm
    3. 3. INTRODUCING CEO DAVIDHARRIS, “ THE DENTALEMBEZZLEMENT GURU”
    4. 4. So How Common Is Fraud? May 2007 DuMolin and Associates
    5. 5. Lazy or Stupid? Both dentists and others have come to the conclusion that dentists are frequent victims because they are “poor businesspeople” or “inattentive to business matters” While I will not dispute that some dentists possess one or both of these attributes, fraud also frequently strikes dentists who are both skilled in business and attentive. The “blame the dentist” hypothesis is convenient, but I think the true cause of rampant fraud in dentistry is much more basic.
    6. 6. An Explosive Mixture! Unlike most other businesses, “Client” and “Patient” are often different in dentistry. This removes a basic control on which most enterprises depend Computerization has created a barrier between dentists and information about their practices Control systems in use in dental offices have not evolved from their design 50 years ago when most offices were run by the spouse of the dentist These controls are designed to catch clerical errors, not fraud.
    7. 7. I Know What You’re Thinking:It won’t happen to me because:  I’m very involved in the operation of my practice  My employees have been with me a long time  I live in a small town and this is a big-city problem  I pay my employees more than my peers so that they won’t steal from me  I’m a specialist so I’m safe
    8. 8. YOUR WORST DAY AT THE OFFICE …
    9. 9. Billed to Insurance Company in a single month tooth procedure price 13 D3320 470.00 On a 14-year-old 9 12 D3310 D3320 330.00 470.00 Patient! 2 D3330 739.00 3 D2394 287.00 2 D2394 287.00 0 D4211 223.00 0 D4211 223.00 3 D3330 739.00 0 D4211 223.00 0 D4211 223.00 19 D3330 739.00 18 D3330 739.00 17 D2394 287.00 18 D2394 287.00 0 D4211 223.00 0 D4211 223.00 15 D3330 739.00 14 D3330 739.00 15 D2394 287.00 14 D2394 287.00
    10. 10. From the ADA -- 7 tools to prevent embezzlement11. Review your day-end sheet daily and ensure it balances to deposit2. Do a full background check before hiring3. Make bank deposits yourself4. Pay bills yourself5. Pay employees well6. Lock up your checkbook7. Ask your accountant to check for embezzlement. 1 Protecting Your Office From Fraud and Embezzlement, American Dental Association, 2005
    11. 11. Some sobering statistics1. Three in five dentists will be victims in their careers2. Average theft > $150,000. Biggest I ever saw was $1.9 million3. “Hiltz’s Axiom” –theft normally ranges between 3% and 7% of monthly collections4. Minimum seniority in big thefts is 8 years5. 2012 embezzlement study – 52% of dentists (and 90% of urban dentists) reported being embezzled1. . 1 DuMoulin and Associates 2012 Embezzlement Survey
    12. 12. Why Is There A Dental Embezzlement Epidemic? Basic instability -- much of dentistry paid by third parties, and patients aren’t knowledgeable Effectiveness of dental office control systems is overestimated. Most of the advice given to dentists about controlling embezzlement is wrong!
    13. 13. Our dentist-only presentations  A fascinating look at some spectacular frauds against dentists  Learn how the embezzlers got away with it  See the warning signs that were missed You’ll learn:  How to prevent fraud in your office  Warning signs you should not ignore  What to do when you suspect fraud
    14. 14. Want to learn more? Phone – 888-398-2327 Priority embezzlement email (monitored by duty investigator)– fraud@prosperident.com LinkedIn, Facebook, Twitter – “Prosperident”.
    15. 15. WHO’S HAND IS IN YOUR POCKET?

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