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Fraud Prevention from Within

True stories: Long term 8 year employee, manager that handles everything in the office, fully engaged in all aspects of the owner’s life is found stealing. Optician is running a private optical lab out of office using inventory, equipment and time. Front desk manager that always covers lunch is delivering contact lenses for cash and burying the charts. Every small business has similar problems with cash flow, inventory control and financial recordkeeping. Unfortunately every employee is a potential thief of your money, products and time. Here are just a few simple rules to put in place to protect you from employee theft:

Never have only one employee in the office at a time. This is also a security issue as well.
Every employee must take at least one week contiguous week of vacation each year and any employee that refuses, may be suspect for covering up false transactions. This is especially important for an employee that handles money.
The employee that makes up the bank deposit cannot physically go to the bank with the deposit.
The employee that opens the mail and posts checks into patient accounts should be someone different then the biller that enters the charges. Barcode the inventory and track frames and contact lenses revenue boxes as they are received and subsequently sold.
Barcode the inventory and track frames and contact lenses revenue boxes as they are received and subsequently sold.Spot check patient charts in a conspicuous manner regularly in the presence of the employees.
Spot check patient charts in a conspicuous manner regularly in the presence of the employees.Every receipt of money is entered immediately in front of the patient into the office software and a receipt generated.
Spot check patient charts in a conspicuous manner regularly in the presence of the employees.

Use a time clock as your time is as valuable as your money.

Finally, do not fraud the insurance companies, the IRS or anyone else and even the appearance of such may be misconstrued. Should a patient hand you cash or a check, make a big scene handing that off to an employee to process. Same thing applies if you open an envelope that has a payment in it. Remember that today’s happy employee may become tomorrow’s disgruntled employee turned whistleblower. 


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