BC Advantage - 2019 Issue 9
If You're Going To Make It Make Sure You Keep It
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Article Overview
This article discusses common fraud and theft vulnerabilities in physician practices and other healthcare entities. It is written for practice owners, physicians, managers, and healthcare administrators who want a broad overview of internal controls, staffing safeguards, and financial oversight measures that can help reduce risk. The guidance is centered on operational and accounting controls rather than clinical care.
Why This Topic Matters
Medical practices often delegate financial tasks to trusted staff, which can create opportunities for loss if oversight is limited. Understanding the article’s scope can help readers decide whether they want practical ideas for strengthening internal controls, monitoring billing and payables activity, and improving fraud prevention processes.
What You Will Learn
- Why healthcare practices can be vulnerable to employee theft
- What kinds of staffing and hiring controls are discussed
- How financial oversight and segregation of duties are framed in the article
- Which daily monitoring and reconciliation areas are emphasized
- How practice owners can think about insurance and bonding as part of fraud prevention
Who Should Read This
- Physicians
- Medical practice owners
- Practice managers
- Healthcare administrators
- Healthcare consultants
- Accounting and compliance professionals
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