Look for Embezzlement Red Flags in your Dental Practice

Are you a victim of embezzlement in your dental practice? How would you know if you were? Pat Little, D.D.S, F.A.G.D., C.F.E., CEO and Founder of Dental Risk Concepts and Prosperident describes some of the red flags that may indicate that you are being embezzled. Look out for them to stop the crime in its tracks.

Interview Transcript (Modified for Readability)

“One of the best ways to protect from embezzlement is actually understanding the warning signs of embezzlement. The traditional approach to embezzlement is you try to prevent embezzlement through internal controls. You put a series of steps in place, and as you go through those steps, you can prevent someone from embezzling.

The problem, though, is that there’s so many ways to steal from a dentist that the dentist can’t block every single pathway with an internal control. The embezzler is going to find a way to get around it. Believe it or not, the most effective way to catch embezzlement or at least catch it early in the process is to watch for certain red-flag behaviors, for example, the workaholic, someone who loves to have control. Someone who wants to work continuously over the weekends or after hours.

Prosperident actually has an entire checklist of red flag behaviors. Anyone can go to dentalembezzlement.com, get this free assessment sheet, go through, and find out how many red flags are in their office. That can let them know if they need to make procedural changes or if there are any real danger zones that need to be addressed immediately.”