Dental Embezzlement News
Issue #32 -- March 2015
Did you miss a previous newsletter?  We archive them here.
See Us Live!
Here are some of the places we are speaking soon.  We'd love to see you at one of them.
Mar 5
Pacific Dental Conference, Vancouver BC
Mar 6 Cloud9Ortho Users Meeting, Atlanta GA
Mar 12 Tincher/ Butler Dental Lab, Charleston WV
Mar 13 Carestream Ortho Summit Atlanta GA
Mar 20 Dental Success Summit, Scottsdale AZ
Apr 9
New Orleans Dental Conference, New Orleans LA
Apr 10 Dental Ceramics Group, Richfield OH
Apr 14
Fox River Dental Society, Geneva, IL
Apr 16 ITI Study Club, Burlington VT
May 8 Danville District Dental Society, Danville IL
May 9
American Association of Endodontists, Seattle WA
Jul 15 Altura Periodontics, Denver CO
Jul 17 Patterson Dental, Nashville TN
Jul 31 Arkansas Association of Orthodontists, Little Rock AR
Sept 11
Northeastern Society of Orthodontists, Providence RI
Nov 5
ADA Annual Meeting, Washington DC
Nov 6 Dr. Bruce Fraser Study Club, Columbus OH
Nov 10 Limestone City Study Club, Kingston ON
Nov 13 Academy for Orthodontic Excellence, Newport Beach, CA
Nov 24 Lexington Oral Surgery Study Group, Lexington KY
Our presentations have great titles like "How To Steal From A dentist" and "How NOT to Hire the Wrong People in your Practice".
To book a great speaker for your meeting or study club, please send an email here  or call us at 888-398-2327.
Prosperident's Mission
 “We eliminate uncertainty for dentists with embezzlement concerns and maximize financial and emotional recovery for victims.”

Did you know?
 Prosperident's team live all over the US and Canada?  Our two most dispersed examiners live 2,496 miles from each other.


This Month in Our Electronic Store
Updated Questionnaire!
Our most popular online document, the Embezzlement Risk Assessment Questionnaire, is on sale this month.
This document allows a practice owner to quickly assess whether he or she is being embezzled.  It recently received a number of updates.
Until March 31, this guide is available for $49, which is over one third off the regular price.
For a direct link to purchase your copy, click here.

Are you working harder but earning less?

By Pat Little DDS FAGD CFE
While dental embezzlement is a touchy subject for many doctors, it is a growing problem that cannot be ignored. You spend a lot of time and resources training your team and getting them to "buy in" to your vision of delivering quality patient care. We become close to our teams and, in many cases, they become like extended family. How would you feel if you discovered a valued team member has been stealing from you?
If you have been a victim of embezzlement, you already know how it feels! Many of us think it is unimaginable that someone we trust could resort to embezzlement. We spend most of our time delivering patient care and must rely on our team members to handle most of the patients' financial transactions. The combination of these factors provides an opportunity for an employee to embezzle. In this article I will explain the challenges you face, and how you can mitigate the financial and emotional burdens that invariably result from being victimized by an embezzler.
Dr. Pat Little is a former practicing dentist who is now a Senior Embezzlement Examiner at Prosperident.  He is also a busy speaker -- look for Pat at the ADA Annual Meeting in DC in October 2015.  This article originally appeared in Dental Economics.

A Note From Our CEO:
Embezzlement is a Selfish Crime...
I was speaking somewhere a couple of months ago, and this phrase popped into my mind. I jotted it down and resolved to discuss it in a future newsletter column.
Embezzlers fall into two categories; there are those who steal from necessity, and others who steal, not because they need to, but because they want to.  I recognize that there is some inherent subjectivity between these two, but for most embezzlers the delineation is pretty clear.  We did an examination a few years back where someone was embezzling, and then they won several million dollars in the State Lottery.  What did they do next?  They continued embezzling!  Clearly this was being done to address an emotional (as opposed to a financial) need.
When I speak with dentists about embezzlement, many of them have the feeling that certain attributes of them or their practices make them more or less "prone" to embezzlement.  For example, many doctors believe that there is some correlation between how well team members are paid and their propensity to embezzle.  Our research doesn't support this, and in fact points to a slight negative correlation; in other words, better-paid employees are slightly more likely to embezzle. (We have debated the explanations internally; personally I think that doctors with well-paid employees tend to believe that they have bought immunity against embezzlement and are therefore less vigilant).
However, what I'll tell you about embezzlers is that, regardless of whether they are stealing out of need or greed, they are very consumed by their own problems.  They spend a lot of time thinking about how to steal (and how to cover it up), and their own needs.  They spend almost no time thinking about you, their victim, and the swath of financial and emotional destruction that their actions create.   
We are dealing with employees who are powerfully motivated to steal and would do so in whatever situation the found themselves.  For this reason, I don't accept the widely-held belief that some doctors or practices are "embezzlement magnets", and I view victims as essentially selected at random. 
Does this mean that you are powerless against embezzlement?  Absolutely not.  there are a few things you can do:
1.  Hire carefully.  Most dentists despise the hiring process -- understandable, but it shouldn't push you into taking short cuts.  Once fired at one office, embezzlers are remarkably successful at getting hired at another office.  Last month's newsletter had an article on avoiding hiring mistakes.  If you missed this article, you can check it out here.
2.  Systematically watch employee behavior.  The one constant of embezzling employees is that they act in a predictable way.  Thieves don't want to take vacation, resist your hiring of consultants, guard their duties and work space carefully, conspicuously point to their own honesty, and so on. Our Embezzlement Risk Assessment Questionnaire (which is on sale this month in our online store) provides a systematic way to assess and classify employee behavior.  I'd recommend a look -- that questionnaire has helped many practice owners realize that they had an embezzlement issue.
Thanks for tuning in.

David Harris, MBA, CPA, CMA, CFE, CFF
Chief Executive Officer
Prosperident -- The world's largest dental investigation embezzlement firm