a. Don't allow anyone to use petty cash as an ATM, including the practice owner. b. Have some kind of written log/slip system to record cash in and out. c. Use a safe or lock box, and allow only those who need to access having a key or the combination. Kevin Tighe, Cambridge Dental Consultants, Senior Consultant, got bitten hard by the business and marketing bug during long summer days working at his dad's Madison Avenue ad agency. After joining Cambridge as a speaker in the mid-1990s, Kevin went on to become Cambridge’s senior consultant and eventually CEO. Cambridge Dental Consultants is...
1. Make sure your deposit slip matches the cash/checks for the day. This is where you are most vulnerable. 2. Signs of embezzlement in end of day adjustment report are a. Patient refunds b. No cash payments c. Non-approved adjustments/write-offs. 3. Put refund checks in the mail yourself. 4. Lock down your credit card terminal with a code so only the practice owner can issue refunds (thanks Alex). 5. Take note of any employee working unusual hours, living beyond their means or who rarely takes vacations. They may also be unusually territorial or evasive when discussing practice finances. 6. All staff...
IMPORTANT Some states allow you to thank a referring patient after the fact of the referral with a nominal gift ($10.00 - $25.00) however, the referring patient cannot have an expectation of the reward. A personally signed thank you card or note, ideally from the doctor, is smart and good manners. You can offer a credit to new patients. The amount can be $50.00 or $100.00 or more. You can also offer a free cleaning or exam or nothing at all. It’s totally up to you but, most find a dollar value works best. If you offer a dollar amount still submit your usual...
The Achilles' heel of many a dental practice owner is to avoid dealing with unpleasant staff situations. A good example is a recent new client of mine.
