Why Your Team Is Your Most Valuable Asset

As a dental practice owner, you probably didn’t get into this line of work because you love HR. But if there’s one thing we’ve learned from working with hundreds of dental practices, it’s this: your people are just as important to your success as your patients – and your numbers.

You can’t deliver great care without a reliable, motivated, and engaged team behind you. And in today’s competitive labor market, retaining that team takes more than paychecks and PTO.

Here’s what the research says and what your practice can do about it.

According to talent expert Jeremy Wortman, employees leave when they feel unheard, undervalued, or disconnected from their workplace culture. It’s not just about money. It’s about meaning. That’s why building a talent-centric culture is no longer optional, it’s a strategic necessity.

Here are a few ways to start:

  • Clarify your vision and values. Just like your practice has clinical protocols, your workplace culture needs a clear foundation. What do you stand for? What kind of environment do you want to create?
  • Invest in your team. Whether it’s leadership development, team-building, or professional growth opportunities, supporting your staff beyond the daily tasks goes a long way.
  • Measure engagement. Annual surveys, regular check-ins, and “stay interviews” can help you spot problems before they become turnover.
  • Give feedback often. Employees want to know how they’re doing and where they can grow. Don’t wait for annual reviews; make feedback a part of your routine.
  • Create a workplace they won’t want to leave. People stay where they feel seen, supported, and aligned with the practice’s purpose. And when they stay, your patients benefit too.

It’s true, our expertise lies in accounting, tax, and financial strategy. But we’ve seen firsthand how practices thrive when they focus on the people side of the business, too. If you want to talk more about building a practice that performs, on paper and in person, reach out anytime.

Podcast Recap: Protecting Your Dental Practice from Embezzlement

Running a dental practice requires trust—trust in your patients, your team, and your financial systems. But what happens when that trust is violated? Embezzlement is a growing concern in the dental industry, and unfortunately, it’s more common than many realize. In a recent Beyond Bitewings, we sat down with Allen Schiff, CPA, CFE to discuss how dental practices can spot, prevent, and respond to fraud within their offices.

How Common Is Embezzlement in Dental Practices?

According to Allan, one in six dental practices will experience some form of embezzlement. Many dentists assume their practice is safe because they trust their employees, but the unfortunate reality is that fraud often comes from the person they trust most. The long-time, dedicated employee who arrives early, stays late, and manages the office finances is often the one with the most access and opportunity to commit fraud.

Signs That Embezzlement May Be Happening in Your Office

Many dentists don’t realize fraud is happening until it’s too late. Here are some red flags to watch for:

  • Overprotective control – An employee who doesn’t want anyone else handling financial matters, insists on doing everything themselves, and resists oversight.
  • Unexplained lifestyle changes – A staff member suddenly making expensive purchases or taking extravagant vacations without a visible increase in income.
  • Avoiding time off – Someone who refuses to take vacation or sick leave may be afraid that their fraudulent activities will be discovered if someone else steps in.
  • Unusual adjustments in financial records – Frequent patient account adjustments, missing deposits, or discrepancies between collections and bank statements.

How to Prevent Embezzlement in Your Practice

While no system is foolproof, there are steps dentists can take to minimize the risk of fraud in their offices:

  • Segregate Financial Duties – No single employee should have complete control over financial transactions. Have different team members handle collections, deposits, and adjustments.
  • Monitor Daily Reports – Print and review your day sheet at the end of each day. Even if you don’t analyze it in detail, knowing that you check will discourage fraud.
  • Review Bank Statements Personally – Open and review your practice’s bank statements before handing them off to anyone else. This small step can deter an employee from attempting fraud.
  • Enforce Strong Internal Controls – Use software permissions to restrict access to financial transactions and ensure that no one can alter records without oversight.
  • Conduct Surprise Audits – Randomly reviewing financial records and logs can catch discrepancies early and keep employees on alert.

What to Do If You Suspect Fraud

If you notice warning signs of embezzlement, do not confront the employee immediately. Instead:

  1. Gather evidence quietly – Work with an accountant or fraud examiner to review your financial records before taking action.
  2. Do not fire the employee right away – While your first instinct may be to remove them immediately, fraud investigators recommend keeping them on staff until a thorough investigation is completed.
  3. Seek professional guidance – A Certified Fraud Examiner (CFE) can help you collect admissible evidence and even obtain a written confession.

A Real-Life Case of Dental Practice Fraud

During the podcast, Allan shared a shocking case where a long-time dental employee embezzled more than $400,000 in implant supplies. She sold them on eBay, and the only reason the fraud was discovered was because the implant vendor congratulated the dentist on their high-volume purchases—purchases they had no idea were happening. The perpetrator was eventually caught and sentenced, but it was a painful and costly lesson for the dentist involved.

Embezzlement is a real and growing threat to dental practices, but awareness and strong financial controls can help mitigate the risks. If you own a practice, take the time to review your financial processes, set up safeguards, and work with professionals who can help you protect your business.

For more insights and tips on managing the business side of dentistry, listen to the full episode of Beyond Bitewings or contact our team for guidance. Your financial security is worth the extra vigilance!