Owner Proactive Strategies – Protect Your Practice

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Our Owner Proactive Strategies product was developed because we regularly hear from practice owners that they were never taught how to oversee the finances of their practices, and that they are nervous about the systems that are in place.

In the same way that a dental practice offers both restorative and preventative services, the team at Prosperident offers a well-designed service that applies both our expertise and experience to work to help you avoid potential embezzlement issues.

Prosperident’s Owner Proactive Strategies or OPS service is available only from Prosperident and is unlike anything else available to practice owners. We help you identify and correct the vulnerabilities in your dental practice systems.

Want to speak with us about OPS?

CLICK HERE

Transcript

The evidence is clear. The amount of embezzlement that's happening in dental practices is increasing. Why? A lot of the dental literature suggests that the antidote to embezzlement is dentists just need to spend more time. They need to get more involved, whatever that means. I disagree. What if I told you that you could improve the financial control in your practice, spending less time than you're probably spending now? I'm really excited to tell you about our fastest growing product called Owner Proactive Strategies or OPS. And OPS involves us taking a deep dive into the finances of your practice to find the vulnerabilities that you have. And then we deliver customized one-on-one education where things can be improved. Whether you're a brand new practice owner or you've owned your practice for decades, OPS can help you move yourself and your practice forward. What I'm going to do now is turn it over to Amber Weber-Gonzalez, who heads our Proactive Services Department. And Amber is going to tell you some really important things about us. Thanks, Dave. And you are correct. After many years of seeing practice owners suffer a loss, we knew we could do something better. At the end of a clinical day, do you ever wonder what else could be occurring in the practice that you were not directly involved with? Is your financial integrity safeguarded to prevent a loss from happening? Well, after many years and working with many clients, most practice owners are not aware of the vulnerabilities that may exist within their practice. And furthermore, they also don't have the tools or the knowledge to have great oversight to make sure that these systems are in place. That's why we created this custom one-on-one online video interaction with you that provides you a toolkit so that you know how to monitor and make sure that these safeguarded systems that we help you understand are important are being implemented within your practice. We also want to give you that toolkit so that your team members understand that you have the knowledge to make sure they're following what is needed to protect the practice. We look forward to interacting with you and hope that we can bring you the knowledge that you need to become a proactive strategic owner. Thank you, Amber. So at this point, you probably have some questions. What does this cost? How long does it take and how much of my time is involved? Well, I think you'll be happy with the answers. The cost is very affordable and probably far less than you think. And we offer flexible monthly payment plans. We can normally complete this project in about three months. And your time commitment over that three months will be about I'd love to talk to you about how Ops can make you a more confident practice owner. Why don't you give me a call?

OPS client Dr. Jennifer Mohr discusses her experience

I actually have the tools now to oversee what is happening at my front desk easily and with a lot of clarity and with really minimal time. I've never understood, since taking ownership of this office, really what happens up front. And again, I only understood reports from the standpoint of where is my practice thriving, where does improvement, if anything was amiss. has been hugely different from other sources of information, other tools I've used as a practice owner. I've worked with consultants. I've always expressed my desire to better understand how to oversee my front office staff. Started to think it was just, I wasn't able to grasp it. After working with Prosperident, I can see I didn't understand it because my consultants didn't really understand it either. And that's what kind of turned me towards Prosperident. But for the first time, I actually feel I understand. It's one thing to know where your practice is thriving. It's another thing to understand those same reports in terms of when your money is being mishandled or things might be getting out of control. And that's, that's been a really big difference with working with Prosperity because it's just, they're real experts. Absolutely, I would, but I don't see that being necessary. Pretty darn good job of informing me. And not only that, they've been really great with keeping an ongoing relationship. They've made themselves really available. If I have questions or follow-ups or if something comes up, and they've just been great. So yeah, if I needed to do it again, but there would have to be a whole lot of changes I would imagine for me to need to do it again. We were both educated in real time together and worked on these steps together. Anything that was appropriate to keep private, we did not have with staff around, made a big difference. I feel like she learned a lot too. And I know there's a lot of crazy things that go on in dental offices. We're pretty vulnerable there, and I do not feel vulnerable there anymore. There are two parts of this. I did the OPS and I also did an embezzlement check. They were both separate and they worked together and it was great how they coordinated that together and with my training and really looked back over the practice to see where we were, what was going on, how tight things have been, and then use that to kind of customize it to me and see where I was kind of coming up short and needed to make some changes. It was such a good feeling to just know everything has been good and the people I've had up front have been doing a good job. I would, and I already have. Really well worth the investment.

Tell Me About Owner Proactive Strategies.

OPS is a program designed to turn you into a confident practice owner. OPS has five cornerstones:

Transaction Integrity Review – we review transactions from your practice management software to ensure that team members are performing at your standard.
Financial Analysis – we review financial information and key performance indicators to confirm the financial health of your practice and to look for warning signs for misstatement.
Vulnerability Reduction. Much embezzlement can be traced to deficient systems or a vacuum in a practice’s policies. We will help you uncover the weaknesses that can allow embezzlement to occur undetected so that you can address them. This review covers areas including practice management software security settings and user permissions, division of duties among team members, adjustments control and many other areas.
Practice Owner Oversight — This might be the best part of OPS. One of our Proactive Specialists will work one-on-one with the practice owner and will teach them how to exercise financial control over their practice. Clients learn which reports they need from practice management software and how to produce and interpret those reports. We help practice owners develop efficient day-end and month-end routines to protect them against embezzlement and be attuned to the financial activities of their practices. And the universal comment from clients is that "there is nowhere else to learn this!"
Tool kit — we provide a series of incredibly valuable tools, checklists, and spreadsheets to help ensure smooth functioning of your practice and to deal with unusual situations.

The result? OPS creates confident practice owners who sleep well knowing that they have the right financial controls in place to lower their risk of being victims.

OPS is a “high-touch” service where one of our experienced Proactive Advisors will work one-on-one with you to achieve these objectives. Video meetings and using screen sharing to work together on your practice management software are two of the common collaboration methods that we use. We will walk with you every step of the way. Want to know more about our team? Click HERE.

We are 100% confident that using our Owner Proactive Strategies service is your best step forward for establishing policies, procedures, and systems that work as a shield against internal theft. We create reliable and straightforward actions specific to your practice to ensure that you have the highest level of protection.

OPS has been specifically designed for:

Dentists with established practices who want to ensure they remain at low risk for embezzlement.
Dentists who are purchasing an established practice and who want to ensure that they are not using a predecessor’s unevaluated policies and procedures, especially when the previous practitioner’s staff is retained.
Dentists who are sure that they do not have embezzlement issues and want to keep it that way!
Dental entrepreneurs, setting up multi-office practices that want to ensure consistency regarding office policy, procedures, and systems.
Dentists who want more control over the financial operation of their practices without sacrificing clinical time to do so.
Any dentist who has been a victim of embezzlement and wants to decrease the chance of it happening again.

The Numbers Don’t Lie

Published statistics suggest that more than 80% of dental offices will eventually succumb to internal theft, and of that appalling number, some practices will suffer from internal theft more than once. Sadly, since many employee thefts go undetected or unreported, the actual incidence is probably higher. In the case of multi-office practices, a higher prevalence is guaranteed! The average embezzler steals over $100,000 before being caught, and the monetary theft only begins to tell the full story since there are usually additional costs involved in recovery and remediation. Having a system like OPS in place to catch a thief in your offices as early as possible is vital.

Practice Management Software

Whether you use Dentrix, Open Dental, Eaglesoft, Softdent, Curve Hero, endodontic, orthodontic, or other practice management software, we can help.

Have questions or want to learn more?

Access our FAQ page HERE.

We would love to have the opportunity to talk with you about OPS and the benefits it will provide for your practice. It costs you nothing to have a chat with us about OPS or any of Prosperident’s other services.