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 …
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.
Get Rich Quickly –Steal From A Dentist
Prosperident is the world’s largestdental embezzlement investigationfirm
INTRODUCING CEO DAVIDHARRIS, “ THE DENTALEMBEZZLEMENT GURU”
So How Common Is Fraud? May 2007 DuMolin and Associates
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.
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.
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
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
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
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!
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