GP practices are under enough financial pressure without running the risk of any sort of fraud or financial loss. Apart from the actual losses considerable time and energy can be used up investigating such issues. It is important, therefore, that practices have the right policies, procedures, protocols and checks in place to test their systems to avoid being in this situation.
LMC has developed a tool with a representative from Audit NW to try and provide some assurance and is happy to work with GPs on this. The basic questions to ask are:
How good are your processes?
- Do you segregate duties?
- Do you employee a scheme of delegation?
- Do you manage risk effectively?
- Do you have contingency?
How good are your policies?
- Are your policies up to date and effective to core business?
- Are they ratified?
- Are they communicated to your staff?
Staff agreements and responsibilities?
- Are your staff contracts current and effective?
- Are your staff job descriptions current?
There are 5 Key Areas to check:
- Payroll – Segregate duties, review your processes
- Policy and Process – review and ratify
- Contingency – Have a fall-back plan
- Contract Agreements – Review contracts and job specs
- Manage by Risk – Conduct an assessment of your risks
If you think you could benefit, please feel free to contact us.