Protect your practice from the many forms of fraud
Abstract: It’s estimated that the average organization loses 5% of its annual revenue to fraud. Physician practices are no exception. Various types of malfeasance can not only hurt a practice financially, but also severely damage its reputation. This article explains the importance of protecting a medical practice against fraud by employees, vendors, patients and other individuals. The article suggests several preventive measures that may help, including implementing strong internal controls and cross-training.