Appoint more than one staff member to handle practice finances. Reduce the opportunity for a team member to falsify accounts by having more than one person working on practice finances. Never let the same individual who collects the money make the deposits. In addition, use an outside accounting firm to conduct unscheduled audits. A series of checks and balances―with the appropriate in-house and outside oversight―can help prevent any financial impropriety.

Practice Checkup: Are ineffective systems holding you back? Find out how a Practice Performance Analysis can help you jumpstart growth this year. To learn more, click here.