Oberman Law Firm – Bernie Stoltz and Fortune Management

Podcast Cover PhotoDENTAL SERIES:

Bernie Stoltz, the co-founder and CEO of Fortune Management is a guest as part of our on-going Podcast series featuring the leaders in the dental industry. Fortune Management is the world’s largest practice management coaching company and has been serving healthcare practices for over 25 years. Listen to hear our discussion on Dental Industry Trends and Exceeding Patient Service Expectations.






Need for HIPAA Business Associate Agreements

Avoid violating HIPAA’s Privacy and Security Rules by executing a Business Associate Agreement (“BAA”) prior to turning over protected patient information to a third party vendor.

The Health Insurance Portability and Accountability Act of 1996 (HIPAA), as amended under the 2013 Final Rule, requires privacy regulations governing individually identifiable health information. These privacy rules establish a set of national standards for the protection of certain personal health information.

The Privacy Rules address the use and disclosure of patients’ information, otherwise known as protected health information, by organizations subject to the Privacy Rule. A major goal of the Privacy Rule is to assure that individuals’ personal health care information is properly protected while allowing the flow of health information needed to provide and promote high quality health care, and to protect the public’s health and well-being.
A major area of vulnerability for many dental practices lies in relations with third-party vendors who have access to patient personal health information. Under HIPAA, third-party vendors may be responsible for securing and guarding personal health information in the same way that dental practices are required to secure such information.
The Rules require that the covered entities include certain protections regarding patient information in a Business Associate Agreement. Dental practices should draft a Business Associate Agreement, which imposes specified written safeguards on the individually identifiable health information used or disclosed by third party vendors.

Embezzling Warning Signs

Statistically, at least 40% of all (if not more), dental practices will be the victim of employee embezzlement. Employee embezzlement has an enormous financial and operational impact on a dental practice. However, there are many signs that employee embezzlement may be taking place. Here are some of the most common warning signs of employee embezzlement:

• An employee is having financial difficulty
• An employee’s changes in personality
• An employee with new found wealth
• An employee is always first to arrive and last to leave
• An employee who is very controlling
• An employee who is taking work home
• An employee who is resistant to change
• An employee is constantly working overtime without sufficient reason
• An employee who never takes vacation/sick/personal days
• An increase in past due accounts or a decrease in collections
• Co-worker complaints about a specific staff member
• Inconsistent financial records

Employee embezzlement can be very difficult to discover. Therefore, it is important to look for several warning signs regarding an employee’s behavior.