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Shawn Zajas Show

In this insightful podcast episode, Shawn Zajas engages David Harris, CEO of Prosperident and an embezzlement expert with over three decades of experience. Together, they delve into the dark realm of embezzlement within dental practices, shedding light on critical warning signs and sharing indispensable advice on prevention and intervention. 

David Harris brings a wealth of knowledge to the conversation, having dedicated his career to investigating and mitigating embezzlement cases in the dental industry. The discussion begins with a compelling overview of how embezzlement takes place, emphasizing its prevalence and the devastating impact it can have on dental practices. 

The conversation progresses to explore the critical role of intuition in embezzlement investigations. Harris emphasizes the need for systematic, replicable processes in larger enterprises, contrasting with the more intuitive approach often taken in smaller practices. He underscores the importance of constructing a hypothesis in investigation, distinguishing exceptional investigators who focus on targeted approaches from their more methodical counterparts. 

The dialogue pivots to the mindset of dentists, providing a deep dive into the behavioral characteristics that might make them susceptible to embezzlement. Dentists are often described as healers, putting others first, but they can be anti-confrontational and may struggle with identifying hidden agendas. 

Harris shares a powerful anecdote about a seasoned office manager who embezzled over $600,000 from a two-doctor periodontist practice. The theft remained undetected until the manager broke her leg and wasn't present at the office for the first time in years. This illustrates how even long-term, trusted employees can perpetrate embezzlement, underscoring the need for vigilance. 

Shawn interjects, expressing shock at the scale of embezzlement cases. Harris explains that while an $80,000 theft is indeed significant, the average embezzlement case now hovers around $110,000, with some cases even exceeding a million dollars. He emphasizes the need for swift action and the positive impact of removing the perpetrator, both financially and culturally within the practice. 

The discussion concludes with a focus on Dental Service Organizations (DSOs). Daivd highlights the unique challenges DSOs face, including the management of multiple practices and the need for streamlined financial oversight. He points out the potential pitfalls, such as regional managers without dental backgrounds overseeing operations. Furthermore, the detachment from individual practitioners within DSOs can create an environment where embezzlement may go undetected. 

Listeners concerned about potential embezzlement are encouraged to connect directly with David Harris, who offers expert guidance and resources. Additionally, Prosperident's website serves as a valuable repository of articles, webinars, and a self-assessment questionnaire, all aimed at empowering dentists to safeguard their practices. 

In closing, Shawn Zajas extends gratitude to David Harris for shedding light on this crucial aspect of dentistry. He acknowledges the profound impact embezzlement can have on a dentist's practice and personal well-being. Shawn expresses his appreciation for Prosperident's pivotal role in providing expert guidance and assistance in navigating these challenging situations. David Harris concludes with timeless advice for his younger self, emphasizing trust in one's instincts, the importance of a reliable team, and the willingness to make difficult decisions when necessary. His years of experience and dedication to the dental community shine through, making this episode a must-listen for dentists and practice owners seeking to protect their livelihoods. 

Connect with David Harris: 
www.prosperident.com 
FB:@ Prosperident.Investigators 
IG:@davidharris9406