Treasury Management Services

Medical Lockbox

Medical Lockbox services are a fast, efficient and reliable way to process the mail payments you receive from your patients and insurance companies. This service provides you with the most efficient collection program possible. Compass Bank's Medical Lockbox services offer you various processing and information reporting options tailored to meet your needs.

Powerful

You select the processing options that best suit your practice's needs, and let our Medical Lockbox staff enhance the quality of processing and customer service. Since we deposit the checks for you, the process provides additional audit controls due to the further separation of the depositing and accounting posting functions.

Our Lockbox Imaging Service enables you to receive images of checks and EOB (explanation of benefits) documents via Compass Bank Lockbox CD ROM/DVD or online via Compass e-Access® Enhanced Lockbox Reporting module. In addition, we can capture key remittance details to help automate the posting of your daily receivables.

Cost Effective

Compass Bank's Medical Lockbox service eliminates mail, receipt and processing of receivables in your office, allowing for more effective use of your staff. Deposits are made promptly and your need for expensive remittance processing technology is eliminated.

Efficient

You can accelerate cash flow and ensure timely deposit of payments. Medical Lockbox also reduces mail, processing and check collection float.

Specifications and Availability

Compass Bank currently has lockbox sites in:

We have several processing packages to choose from, and some customization is available.