Here are the five most common ways in which fraud occurs, and procedures that can help prevent fraud, according to Ms. Sahai:
• Employees could create a fake vendor identities, so have a system in place that alerts physicians and office managers to any new vendors.
• Make sure to split up the role or reconciling bank and credit card accounts and bill pay between two or more employees to create checks and balances.
• Periodically review payroll reports to guard against unapproved pay increases and overtime.
• Task different employees with ordering supplies and opening the mail to prevent someone from over-ordering supplies, returning them and pocketing the refund.
• Make sure company credit cards are getting reconciled by an employee who does use that credit card to prevent personal charges on company cards.
Medical BackOps is a provider of cloud-based solutions for healthcare finance and human resources management.
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