MedCashManager, its just what the doctor ordered.
Physicians and their support staff understand the ins and outs of insurance and customer billing, but sometimes its difficult to determine when payments will actually be made. First National Bank Alaskas MedCashManager eliminates guesswork and the wait. The Web-based program allows you to get cash for your account receivables within two days by selling them to the bank. You continue to handle your own billing and posting processes, using an online system to send daily transaction reports to the bank. You typically receive money for your invoices from First National in 24 to 48 hours. The entire process is invisible to your clients. All billing and collecting continues to be done in your business name. Customers remit payments without awareness of the banks involvement.
Who can use MedCashManager?
A wide variety of healthcare providers can benefit from MedCashManager including:
Durable medical equipment suppliers
Home medical equipment suppliers
Home healthcare agencies
Nursing homes/skilled nursing facilities
IV infusion providers
Ambulance and medical transport facilities
How it works
With the click of a button, you submit claims transaction reports to First National via MedCashManagers secure Web interface.
The bank buys the claims at a discount and deposits the cash into your account, typically within 24 hours.
You continue your billing and posting processes as usual, and as payments come in, they are delivered in your name to a First National lockbox. MedCashManager is designed to be nonintrusive to your daily office operations.
MedCashManager retrieves data directly from your accounting system, so the process of communicating claims information to the bank is fully automated. You have no additional paperwork and perform no manual data entry.
Improved cash flow
Predictable cash flow can help businesses make payroll, remit payments on time, increase inventory and pursue new business opportunities.
Save time and money
You will no longer have to spend time tracking account receivables. Having money in hand quicker will allow you to take advantage of volume and quick-pay discounts from suppliers.
Grow your business
With better cash flow and more time, opportunities for growth will likely follow. Youll be able to buy new equipment, increase your staff or pursue new investment opportunities. To learn more about First Nationals MedCashManager, call Siri Hill at 777-5690 (1-800-856-4FNB (4362) for communities outside of Anchorage) or visit FNBAlaska.com.