Five Key Fraud Risks in the LTC Business Office: Shut Down The Many Opportunities For Theft in Your Facility

This training series explores the Five Key Fraud Risks in the LTC Business Office. In many LTC facilities, the business offices presents a hotbed of fraud opportunities. Administrators are often stretched to limits and come to depend heavily on their business office staff to take care of the financial end of the business.  This could be a mistake, CPA Kylie Waters Whipple warns. Resident payments, resident funds and many other accounts in your business office could be ripe for the taking by savvy, dishonest staff. And, without adequate controls, even relatively honest staff could be tempted.

But it doesn't have to be that way. With some simple procedures and basic knowledge of accounting practices that are aimed at protecting your facility's health, administrators can keep their focus on quality clinical care with the knowledge that they have taken the right steps to prevent theft and fraud. In this 60-minute presentation, Ms. Waters Whipple walks participants through the five key areas where fraud can occur. She reveals how dishonest employees can capitalize on weaknesses in those areas and give administrators and other management techniques for spotting problems in those trouble spots. In fact, she notes you already have many good tools at your disposal for ferreting out fraud. It's just a matter of applying them in a different way.

Training Objectives

Participants in this training program will be able to:

• Create effective controls to prevent business office fraud
• Protect resident payments and properties with adequate security procedures
• Spot potential weaknesses in business office procedures
• Know where to look for fraudulent activity
• Devise training policies and procedures that prevent fraud
• Develop administrator oversight procedures to catch fradulent practices
• Set up procedures for dealing with remote locations to prevent and catch fraud

About the Speaker

Kylie Waters Whipple, CPA, is controller for Exceptional Living Centers, an independent living and long-term care management center based in Lexington, Ky. She became a Certified Public Accountant in 2002 and worked previously in public accounting for PriceWaterhousecoopers LLP as a senior-in-charge for audit engagements. In 2001, she graduated with a Bachelor of Science in Accounting from The University of Kentucky and is pursuing her Masters of Business Administration degree. Varied work experience includes benchmarking best practices, analyzing costing methods, and managing program finances in The University of Kentucky College of Dentistry.