Your staff members are essential to the smooth functioning of your practice, and you rely on them to keep things going. But according to a 2014 report by the Association of Certified Fraud Examiners (ACFE), healthcare businesses are likely to be victims of fraud, with yearly losses averaging $175,000 per practice. The same study also found that small businesses are disproportionately affected — and under protected — from fraud and employee theft.
Three major types of employee theft plague healthcare practices, according to the Medical Group Management Association. Here are the top three ways employees steal, along with tips for preventing them:
Your best protection is keeping a close eye on things. Personally review payroll payments regularly — and let your workers know this is part of your practice. The best way to combat fraud and employee theft is to prevent it before it happens.
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