How Can This Happen
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Transcript of How Can This Happen
How Can This Happen?
Lessons learned after you experience a loss
If someone is intent on embezzling or stealing, they can…
Our job is to make it as difficult as possible.
Is Someone Dipping into Your Pocket?
Food for Thought….
Remember… “Red flags” are only indicators and not
confirmation of the existence of fraud. Sometimes, there is a logical and reasonable
explanation. Sometimes, fraud is the explanation.
The Fraud Triangle
PRESSURE
PERCEIVED OPPORTUNITY
RATIONALIZATION
When you’re only generating a 4 cent return, every little bit helps. If all employees would strive to be 1% more productive or save 1 cent on every dollar they spend, it would have tremendous impact by adding $20 million to our bottom line.
For every dollar lost through fraud, the recovery is exponential. For example:
$1 million dollar fraud 4¢ of every dollar is profit Need $25 million dollars in patient revenue to recoup the
loss At $28,000 average revenue per inpatient, we would need
to see an additional 900 inpatients.
Executive Vice PresidentNot-for-Profit Healthcare System
We are here to help
The investigation is over…now what? Review the report Review the findings and recommendations Review the workpapers Implement change