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How much do you know about embezzlement and internal controls? [5-MINUTE QUIZ]

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embezzlement , medical practice business
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How knowledgeable are you about theft inside medical practices — and preventing it?

This quiz is designed to get you thinking about how you can protect the money you’ve worked so hard to earn.

Embezzlement always leaves practice owners feeling violated. In some cases, when the amounts are large, a practice’s profitability can even be jeopardized by an embezzler.

Take the quiz — it only takes about five minutes — and feel free to get in touch with us if you have questions about the information. We’re offering a free 15-minute call to any practice owner who takes the quiz and wants to discuss any concerns it brings to the surface.

 

Quiz: HOW MUCH DO YOU KNOW ABOUT EMBEZZLEMENT AND INTERNAL CONTROLS?

1. True or false:  Internal controls, when properly implemented, prevent embezzlement.
2. True or false: An employee who appears to be the most loyal and hard-working person on staff could be an embezzler.
3. True or false: Cash is the most important payment type to monitor for embezzlement.
4. A practice can prevent employees from embezzling by:
5. True or false: Separation of duties is an important internal control that can reduce embezzlement risk, especially with over-the-counter payments and checks received by mail.
6. Which of these human resource policies can help discourage embezzlement? (Check all that apply.)
7. True or false: Embezzlers are motivated primarily by jealousy or resentment about physicians' incomes.
8. True or false: Regularly scheduled audits are an excellent defense against embezzlement.
9. True or false: Technologies like patient payment portals and self-check-in increase the risk of employee theft.
10. True or false: Although physicians are often reluctant to speak about their experiences, embezzling is common in medical practices and many physicians and administrators have been victims.
11. True or false: Some embezzlers are serial offenders who will jump from practice to practice until they are caught; others are employees who never stole before, but give in to temptation and continue stealing when they are not caught.
12. True or false: There are a few common schemes that account for most embezzlement losses.

Laurie Morgan
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