The Hidden Ledger: Unraveling Embezzlement in Orthodontics

Today, we have David Harris from Prosperident on the show. In this episode, we are talking all about embezzlement and ways you can avoid it in your practice. It is easy to think it can never happen to you, but the reality is it could happen to any of us. Which is why I thought it would be so amazing to bring the topic to light here on Hey Docs! Let’s get into it! https://www.prosperident.com/https://www.facebook.com/Prosperident.Investigators https://www.linkedin.com/company/prosperident/ SummaryIn this conversation, David Harris, CEO of Prosperident, discusses the issue of embezzlement in dental practices. He highlights the prevalence of embezzlement in the industry and the lack of clear signs that indicate an employee may be stealing. David emphasizes the importance of implementing safeguards, such as conducting criminal records checks and drug testing during the hiring process. He also stresses the need for dentists to actively review their practice management software and reconcile collections with deposits to detect any discrepancies. David advises dentists to seek professional help if they suspect embezzlement and cautions against taking immediate action without proper investigation. In this episode, David Harris discusses the importance of taking action and avoiding suspicions when dealing with embezzlement in dental practices. He emphasizes the seriousness of the issue and the potential risks involved. He also provides advice on reaching out for professional help and shares his contact information. The episode concludes with a speed round and a discussion about outdoor activities and David's involvement in search and rescue. David shares his desire to be remembered as a great father and the best piece of advice he has received. TakeawaysEmbezzlement is a prevalent issue in dental practices, with approximately 70% of dentists experiencing it at some point in their careers.Implementing safeguards during the hiring process, such as conducting criminal records checks and drug testing, can help prevent embezzlement.Regularly reviewing practice management software and reconciling collections with deposits is crucial for detecting and preventing embezzlement.If embezzlement is suspected, it is important to seek professional help and conduct a thorough investigation before taking legal action. If you suspect embezzlement in your dental practice, it is important to take immediate action and avoid telegraphing your suspicions to the person you suspect.Embezzlement can have serious consequences, and it is important to seek professional help to navigate the situation and avoid potential risks.David Harris can be reached for a no-cost, no-obligation consultation through his toll-free number or website.David's involvement in outdoor activities and search and rescue highlights his passion for helping others and making a positive impact.Connect With Our Advertisers Kaleidoscope - Orthodontic Digital Marketing GreyFinch - Web Based Practice Management SoftwareSmileSuite - Customizable Presentation Software and Post-Consultation Follow-Up Chapters00:00 Introduction and Background03:30 Red Flags for Embezzlement06:00 Case Study: Office Manager Embezzlement08:17 The Paradox of Embezzlement09:30 Safeguards for Protecting Against Embezzlement12:08 Importance of Correlating Collections and Deposits13:40 Different Forms of Embezzlement19:24 Recognizing and Responding to Embezzlement30:18 Engaging Professional Help35:02 Preserving Evidence and Taking Legal Action38:42 Taking Action and Avoiding Suspicions39:23 The Seriousness of Embezzlement40:15 Reaching Out for Help41:43 Wrap Up and Contact Information41:59 Speed Round43:15 Outdoor Activities and Search and Rescue43:29 Desire to be Remembered43:47 Best Piece of Advice Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com. If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode. New episodes drop every Thursday! Episode Credits:Hosted by Jill Allen Produced by Jordann KillionAudio Engineering by Johnny Mitchell