Issue link: http://viewer.e-digitaledition.com/i/751365
A S IF PROVIDING E XCELLENT CARE, NAVIGATING GOVERNMENT REGUL ATIONS AND JUGGLING STAFF SCHEDULES WERE NOT ENOUGH, PHYSICIAN PR ACTICES ALSO FACE THE SERIOUS THRE AT OF INTERNAL FR AUD. EMBEZZLEMENT AND THEFT cost medical prac- tices tens of millions of dollars annually, and the amounts involved in individual occurrences can be staggering: In a 2014 case in Florida, a woman who worked for a medical group was accused of embez- zling well over half a million dollars to purchase luxury cars and rent a pricey home. Physicians can avoid at least a portion of those losses by addressing some common managerial missteps, Seattle-based CPA fi rm Moss Adams LLP notes on its website. Among the path-smoothers to embezzlement, according to Moss Adams, are failing to implement a payment reconciliation process, storing cash-box keys beside the front desk, posting payments before they are deposited at the bank, and making deposits only weekly or sporadically. The fi rm recommends several steps physician groups can take to head o… theft, including: + C l a r i f y i n g c o l l e c t i o n p r o c e d u r e s f o r copayments + Providing a receipt for ever y payment made + Conducting pay ment reconci liation before close ever y day + Keeping keys to ca sh boxes away from the front off ice and putting the boxes in f ireproof sa fes overnight + Not relying on just one employee to ma nage the accounting process ■ BY STEVE BARRETT Bypassing the Fraud Freeway TO NO ONE'S SURPRISE, A SCAN OF PHYSICIAN RECRUITMENT WEBSITES REVEALS THAT DETERMINING A POTENTIAL HIRE'S LIKELIHOOD TO BE A GOOD FIT IS A COMMON CONCERN. HOWEVER, THAT QUESTION ENCOMPASSES NOT ONLY WHETHER THE CANDIDATE HAS THE NECESSARY CAPABILITIES AND SHARES THE HIRING ORGANIZATION'S VALUES, BUT ALSO WHETHER HE OR SHE WILL BLEND COMFORTABLY INTO THE SURROUNDING COMMUNITY AND STAY LONG TERM. WILL HE SAVOR rural life or fi nd it dull? Will she embrace the cultural o… erings of a major metropolitan area or pine for unclut- tered views of the stars at night? While there are no guarantees of a good match, hospitals and physician groups can boost their chances by zeroing in on physicians who have existing ties to the community. hfm magazine, a publication of the Illinois-based Healthcare Financial Management Association, says the following groups should be on the radar of healthcare organizations even before an active search begins: + Physicians who are native to the area + Physicians who underwent training in the health system + Physicians who already make their home in the community + Former residents and fellows of the system + Candidates who were not chosen for an earlier position but showed potential for success in a di… erent role Placing the right candidate in the right position can save hun- dreds of thousands of dollars in additional recruiting costs and lost revenue, hfm notes. ■ To Attract a Physician, There's No Place Like Home BY STEVE BARRETT ORGANIZATION'S VALUES, BUT ALSO WHETHER HE OR SHE WILL BLEND