A busy dental practice is a perfect environment for fraud. Too many dentists are victims of fraud and embezzlement in their practice at some time during their career. This occurs when they don't have the needed systems and internal controls in place. The statistics are frightening:
- 5% of annual revenue is lost to fraud
- The median loss over 18 months is approximately $150,000
- 85% are first-time offenders
- 79% of embezzlers displayed warning signs that were missed or ignored
Take a look at the infographic that illustrates what dentists need to know about the potential for embezzlement in their practices.
Note: This content is accurate as of the date published above and is subject to change. Please seek professional advice before acting on any matter contained in this article.