You would never knowingly hire a thief. The problem is, that when an employee steals from your practice, they most likely have never stolen anything before. This makes weeding out these employees almost impossible. Your only course of action is to implement proven controls.
Unfortunately, employees stealing money from medical practices happens way more often than you might think. You can find hundreds of cases online, here are just a couple: Employee steals $257,000 from a 6 physician practice in Oregon; Over 11 years at a large group practice in North Carolina an employee is found guilty of stealing $890,000; A Kentucky solo-practitioner discovers his employee has stolen $120,000 ($40,000 in payroll taxes, which he still must pay).
It doesn't matter where you're located, your specialty or the size of your practice, all medical practices are at risk. In fact, according to the Association of Certified Fraud Examiners, 3 out of 4 physicians will suffer a significant loss due to theft during their careers. A savvy thief knows just what to say and do to fool you, but only if you let them. If you know how, you can identify the red flags associated with employee theft, and catch it before it becomes significant. This is where medical practice risk management expert, Debra Phairas, MBA, comes in.
During her online training session Debra will teach you how to quickly spot theft warning signs and provide you with other proven tactics to help you head off employee theft before you are left losing hundreds of thousands of dollars just like the practices above.
Here are just a few of the practical, step-by-step employee theft prevention strategies you'll receive by watching this 60-minute online training:
- Uncover the most frequent ways employees steal, and how to catch them
- Spot common behavioral signs that may signal stealing
- Implement easy credit and background check processes and know what to look for
- Accurately utilize drug screenings to identify high-risk employees
- Learn to identify dangerous work patterns that should set up alarm bells to theft
- Execute proven petty cash and co-pay controls to protect your revenue
- Apply accounting controls that make it harder for employees to steal from you
- Execute spot-checking techniques to uncover possible abuses
- Close up online banking, lines of credit and bank reconciliation risks
- And much more...
Who should attend? Medical practice executives, managers and providers. Anyone interested in protecting their practice finances from embezzlement.
Putting your head in the sand and thinking one of your employees would never steal from you only makes you more of a target. Don't make this mistake. During this online training session, you'll dig into real life case examples that will help you identify theft warning signs in your own practice, and help you avoid the massive financial losses suffered by so many other practices all across the country. Sign up today!
Meet Your Expert: Debra Phairas, MBA
Debra is President of Practice & Liability Consultants, LLC a nationally recognized firm specializing in practice management and malpractice prevention. Her background includes medical clinic administration and loss prevention management for NORCAL Mutual, a physician malpractice insurance carrier in Northern California. Her consulting experience includes over 2,000 practices of all sizes and specialties. Typical engagements include: practice start-ups, practice assessments, mergers, financial analysis, revenue enhancement, overhead reduction, personnel management, over 450 practice valuations, expert witness, partnership issues and recruitment support for hospitals and physician groups. She has presented seminars and lectures nationwide for state and local medical/dental associations, management organizations and specialty societies. Her BS is from Michigan State University and her graduate work at Golden Gate University San Francisco MBA Health Services Administration program.
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