Manage Cash-Handling at Your Medical Practice


Making a few simple changes to your cash-handling procedures can potentially save your practice thousands of dollars

When it comes to money handling you can never have too many fail-safe protocols in place. The most important thing to remember is to never allow cash to be too accessible to staff. What I mean is that you need to have protocols in place that tell your staff, "this is not yours, and it is off limits." Never provide an opportunity for a decision to be made by a staff member that could jeopardize your bank account. I'm talking about transparency in your process and procedure.

If you suspect a staff member may be taking liberties that are not his to take, a four- or five-step process to tighten up your money-management processes would serve you best. This is such a difficult situation to be faced with, in lieu of actually videotaping someone taking money that is not his to take, you only have suspicion. That could get you into some real trouble.

Here are some ways you can protect your cash by creating solid accounting processes: