Medical Practice Management
Jun 11

Embezzlement All Over Again

I am working on an independent embezzlement review that resulted from a medical practice employee going to the bank and trying to cash SEVEN insurance checks. Luckily the bank called the practice first before cashing them. To date, we have found her to have taken numerous patient copays and pocketing the money.

Embezzlement seems to be rampant these days in medical practices. It’s easy for an employee to cover his or her tracks if (1) controls are not in place as best as they can be (mainly in small medical practices where it is hard to separate certain duties) and/or (2) when people aren’t watching. It is the latter that gets medical practices in trouble. Management just does not take the time to "spot check" for embezzlement. The person above got caught but I wonder how many people out there ARE NOT getting caught…………

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →