Welcome to the Golden Age of Orthodontics with Dr. Leon Klempner and co-host Amy Epstein. In this episode, we dive into a crucial yet often overlooked issue in dental and orthodontic practices—embezzlement. Today’s guest is David Harris, CEO of Prosperident, the world’s largest firm investigating financial crimes committed against dentists, who shares eye-opening statistics on how pervasive embezzlement is in orthodontic practices. David sheds light on the behaviors of those who steal, the fine line between delegation and abdication, and the essential steps your HR department must take to protect your practice, including rigorous pre-employment screening. The key takeaway? More orthodontists will be embezzled than won't, making vigilance and proactive measures essential to safeguarding your business. Don’t miss out on this information-packed episode.

IN THIS EPISODE:

• [2:39] Amy introduces David Harris, CEO of Prosperident, a firm expert in addressing dental practice embezzlement
• [4:12] David explains the pervasiveness of the embezzlement problem and outlines statistics of practices who have experienced embezzlement
• [12:29] David discusses the difference between delegation and abdication and the behaviors of people who steal
• [19:31] Pre Employment screening is a must for hiring, and David shares other practices that your H.R. Department must put into place
• [24:23] Discussion of a proximity tag on your computer and what is the next step if someone is stealing from your practice

KEY TAKEAWAYS:

• More Orthodontists will be embezzled than won’t.
• Practitioners don’t have the time to monitor the bookkeeping aspect of their business, while the thief has all the time in the world to devise a plan to steal.
• An employee will gain your trust before they steal from you.

RESOURCE LINKS

People + Practice - Website

Dr. Leon - Email

Amy - Email

People + Practice - Email

Prosperident - Website

Prosperident Phone Number: 888-398-2327

BIOGRAPHY:

David Harris may have the coolest job in dentistry - he gets to chase and catch those who steal from dentists. A rule-breaker in his youth, David changed his direction and has spent much of his adult life in the world of investigation and

Enforcement, where he uses his unrivaled ability to understand the criminal thought process to help educate and protect dentists. David is the Chief Executive Officer of Prosperident, the world’s largest firm investigating financial crimes committed against dentists. David is a licensed private investigator, a Forensic

Certified Public Accountant and a Certified Fraud Examiner. He is the author of the definitive book on embezzlement, the most recent Healers versus Stealers: How to Outsmart the Thief in Your Dental Practice. In addition to being a prolific author, David is a frequent presenter at regional, national, and international dental conferences, and his vast wealth of experience, coupled with his keen sense of humor, makes David both an engaging and entertaining speaker.

In recognition of his long and distinguished service to the dental profession, David is one of a handful of non-clinicians to be honored with a Fellowship in the International Academy of Dental Facial Esthetics.

Welcome to the Golden Age of Orthodontics with Dr. Leon Klempner and co-host Amy Epstein. In today's episode, we're excited to visit with a dear friend, Dr. Chris Cetta, the co-inventor of the precision aligner button and host of the Illuminate Orthodontic Podcast. Dr. Cetta will share the story behind licensing the precision aligner button and offer valuable advice for anyone with a product idea. We'll also dive into the latest trends in orthodontic technology. Since we're all old friends, we'll wrap up the podcast with a fun discussion about music, concerts, and our favorite bands and singers. Remember, there's never been a better time to be an orthodontist!

IN THIS EPISODE:

• [2:52] Amy introduces Dr. Chris Cetta, and he shares his most memorable podcast guests and situations
• [9:11] Dr. Chris discusses co-inventing the precision aligner button and advice he would give to listeners who have ideas they want to bring to market
• [14:30] Dr. Chris explains how Dr. Richard Kaye and Dr. Leon and Amy met and made the decision to start a podcast
• [17:42] The pros and cons of licensing your ideas and Dr. Leon tells an invention story from 20 years ago
• [22:50] Dr. Jonathan Nicozisis calls in to ask a question about new trends and how to afford the technology
• [26:39] Dr. Leon chats about music, instruments and concerts

KEY TAKEAWAYS:

• A licensing approach to invention is a good path for a practicing orthodontist
• Often, an invention is conceived because an immediate problem needs an answer
• Lightforce and KLO allow you to dial in treatment and use digital treatment planning, which results in shorter treatment windows

RESOURCE LINKS

People + Practice - Website

Leon - Email

Amy - Email

People + Practice - Email

Dr. Chris Cetta - Email

Dr. Chris Cetta - LinkedIn

QUOTES:

“Taking the licensing model was an interesting process. I learned a lot. I think it's a great modality for orthodontists to take. The biggest lesson I learned is to get very comfortable with the word no and embrace the word no, because if you are trying to license your product to another company, you're going to hear no a lot. And you can't let that discourage you; you can't let that break your spirit and throw in the towel. Another important thing to learn is that, when you get that no, ask for feedback from people because, if you get people to give you honest answers, you can get a lot of valuable insight into how you might be able to change your product or service to make it better along the way.” Dr. Chris Cetta

“I think the licensing model is ideal for orthodontic entrepreneurs. You will see a number of successful orthodontic entrepreneurs out there. We talked about John Pham, Adam Shulhoff, Brandon Owen, and Alfred Griffin; they've done wonderful things with their products. But not every orthodontist wants to quit being a clinician. Being a company CEO is a full-time job, which any of them can certainly tell you. I would suggest keeping the day job. Licensing is much less of a financial risk, than putting yourself out there. Another big thing is why not tap into the company's expertise in manufacturing the products, rather than trying to learn this all on your own.” Dr. Chris Cetta