What is the cost of integrity and what does this mean for your business?

What is the cost of integrity? This is a deep personal question we must all face up to at times of challenge and at moments when we look within ourselves and ask 'what's the right thing to do?'

So often in the dental practice, suspicions and accusations fly between staff, most just hearsay. But here's a thought, afterall as business owners, do we really know what goes on outside the walls of the treatment room?

You may say: 'well my takings balance at the end of the day, and my bank account looks good, why would I worry?'

A report came to light recently where a trusted, longstanding member of staff was found to have fraudulently taken £6,000 from a well-established West End practice.

Another, a trusted and well respected colleague siphoned £60,000 over the period of a number of years from a dental practice in Kent.

Unfortunately these are just a few examples of the small cost of a persons integrity. So many business owners are still unaware of the details of incoming and outgoings within the practice.

We must safeguard our business so that there are no 'blind spots' to be taken advantage of. Especially as most dental practices are computerized it is paramount you have the systems and policies in place to protect your assets.

Do you have ONE high end user implementation on your dental software?

All patient accounts, including refunds can only be handled by a high end user. Thus meaning any accounting mistakes made by staff will become evident when performing the end of day report. The high end user will then be able to investigate the reasons behind any evident errors. A nominated high end user should be a person whom is trusted, perhaps the practice manager.

Monthly accounting reviews of petty cash sundries?

Most dental practices have a petty cash system for buying sundries for the dental practice. You may notice on your accounts the monies going into the petty cash but how often do you check the balance tallies with what is going out? I know we may only be talking small monetary value but imagine over a long period how much you could loose. Any amount is a mistrust of the trust you put into your staff hands.

Talking about theft is never an easy subject to bring to light but is one we must come to terms with because it is happening all around us. Our loyal staff should feel that there is no room for accusation and for those who may be tempted to be disloyal, with careful systems and policies implemented and maintained consistently, you can rest assured your business,staff and patients are safe from the nightmare of fraud.

If you are interested in becoming involved in our upcoming complimentary Q and A workshop, our highly professional consultants will be on hand to help you safeguard your business from the threat of theft.

for more details please contact us sharon@t-da.co.uk we understand your case may require more urgency and discretion. Please feel free to contact 07780 664 145 for impartial, confidential advice.