Response to Embezzlement #3 Post

This post has seemed to cause a little stir among the physician practice manager community. Here is a reply I recently received:

Reed,
I appreciate receiving your newsletters and I especially liked the article on employee embezzlement.  The physician has every right to be angry at the employee and to pursue legal action.
However, the comment about the office manager being stupid or lazy (may be the case), but there is another possibility.  He/she may not have adequate education, experience or training to implement strong internal controls.  Clearly from the description of their practices, there was no reconciliation occurring.  I find that many smaller practices can't afford "administrator" level management (experienced business managers) and the lack of internal controls is very common.
In those cases, responsibility lies with the physician/owners to get advice from their accountant or others who are qualified instead of pointing a finger after they have been victimized.  I think the physician's anger is misplaced as she should be taking responsibility for this occurring.  They have no one to blame but their selves.
Hope you don't mind my little rant, but comments made by physicians to "fire" everyone, when in fact the physician is mostly liable, is unfair.

Have questions? I’m here to help.

Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA for Physicians