Did the $300 a patient handed to your receptionist to cover a photofacial go into the cash drawer... or the staffer's pocket?
American Medical News (1/17, Elliott) reported that medical office embezzlement "is common at medical practices, and experts say the risk is especially high at the beginning of the year."
This is because "patients are paying an ever-larger share of their medical expenses, and, with most deductibles resetting on the first of the year, a significant amount of cash may pass through staffers' hands."
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According to a survey released in November by the Medical Group Management Association, "nearly 45% of practice managers reported cash stolen before or after it was recorded on the books." For that reason, "prevention strategies are particularly important to minimize the risk because a business's insurance may not cover the entire loss, which can be significant."
As every physician running a clinic knows, embezzlement by staff is a problem... I'm going to put together some information on preventing embezzlement and finding embezzlers that will show you how to make sure this is not happening in your clinic and how to make sure that it never does.