Employee Embezzlement: It Can Happen To You

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cover_DDI_Win2012_EmployeeEmbezzlement_CB_KZ_Page_1Doctors Direct Insurance – Winter 2012
Cheyenne Brinson, MBA, CPA & Karen Zupko, Consultant and Speaker, KarenZupko and Associates

Physicians unfortunately are easy targets for employee theft. A recent MGMA survey revealed that 83% of practices have experienced theft by an employee in amounts ranging from $250 – $250,000. Headlines across the country share this disturbing trend: “Practice Assistant Charged with Embezzling Over $1,000,000 from Boston Hospital,” “Former Office Manager Accused of Embezzling almost $215,000 from a Local Physician” and “Former Michigan Office Administrator Arrested For Allegedly Embezzling More Than $200K.” It happens in your own backyard here in Illinois. Undoubtedly, it has happened to a colleague or even yourself.

Employees who embezzle do not wear a T-shirt to work that says “I steal from you.” However, there are steps you can take to protect you
and your practice from employee theft.

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