Additional Information – Medical Banking Treasury Management Services
Efficient cash management can be a challenge for any medical business large and small. Money flows into your business, perhaps
slower than you would like. Money flows out of your business, perhaps without as much control as you would like. Money sits
idle at times, often without being put to full productive use. In addition, managing the flow of critical information and banking
activities can be more time consuming and costly than necessary.
With the right customized package of Vectra Bank Treasury Management tools, your business collection, disbursement and
information management processes can be made more efficient so your cash flow can be optimized like never before. And, idle
money can be put to quick productive use to either earn or save more money for your company.
COLLECTION AND DISBURSEMENT SOLUTIONS
Increase control over your cash flow
Have your patient and insurance carrier checks directed to
and processed by Vectra Bank. All checks, EOBs, and
accompanying documentation is imaged based for same day,
online review and are deposited and posted the same business
day as received. Our high quality, imaged based environment
can remove the burden of processing paper work in your
office. Medical Image Lockbox can increase your funds
availability for investments and other operational needs. Plus,
Medical Image Lockbox can reduce the potential for
employee fraud and related financial losses.
Anytime Payments is an all-in-one, web-based, electronic
payment system designed to make the billing and collection
process fast, effective and convenient for businesses and their
customers. Anytime Payments has a user–friendly interface
connected to the ACH Network and credit card networks,
which enables clients to create and receive electronic
payments from a checking, savings, or credit card account.
Reduce the time and cost associated with paper-based
transactions. Issue low–cost electronic funds transfers
through the ACH to gain efficiencies over traditional
paper based transaction alternatives. Direct deposit of
payroll, direct debit and direct credit programs are fully
reported. Secured internet and mainframe–to–mainframe
transmission options are available.
Gain access to wire transfer services without going to the
bank. Easily and securely compose and send same day wire
transfers via phone or secure internet connection to locations
throughout the U.S. and the world.
Reduce the cost, preparation time, and float associated with
check deposits. Eliminate the need to transport physical
check deposits to the bank — your customer’s check
remittances are digitally scanned and archived at your office.
Customer checks are deposited and transmitted to the bank
electronically for same day credit to your bank account to
expedite funds availability.
Simplify the management of multiple checking accounts.
Maintain as many collection and disbursement accounts as
you need, while automatically consolidating your cash into
a single concentration account and automatically funding
disbursement accounts as needed, each day.
Finding a payment processing solution tailored to the needs
of your medical business and the needs of your customers is
critical. Secure and reliable technology, timely processing,
cost effectiveness, and quality customer service to handle
your customers’ card payments are important in choosing
the right Merchant Services provider. Vectra Bank has
partnered with TRANSFIRST, Inc. to serve our Merchant
Services clients. Simplicity, efficiency, and competitive net
costs are trademarks of our merchant services program.
INFORMATION MANAGEMENT SOLUTIONS
Make informed and timely financial decisions
Easy and timely Internet access to balance, view transaction
detail, and images. Receive previous day and current day
account balances and credit/debit detail information
through a Web–based service, 24 hours a day, and 7 days a
week. View high–quality front and back images of paid
checks, deposit tickets and deposited checks. Also initiate
Stop Payment requests as well as domestic and international
Wire Transfers, Automated Clearing House (ACH)
transactions and Internal Book Transfers.
Securely store your financial records and quickly research
and address accounts payable or accounts receivable issues.
Access front and back digital images of paid checks, deposit
tickets, deposited checks and your entire account statement
all on one easy–to–store CD–ROM.
Timely, accurate, and efficient reconcilement programs.
Consolidate and economize internal audit controls by using
time and money–saving, automated methods of balancing
your commercial account on a daily, weekly or monthly basis.
Centralized cash collection reporting. Offers medical
businesses with multiple locations an efficient way for all
locations to deposit into one consolidated account, while
maintaining separate accounting for each location.
Minimize exposure to check fraud. View front and back
images of checks presented for payment and enable early
detection and return of unauthorized checks in an online
Make the most of your daily cash flow by putting cash
assets to quick and productive use. Preserve daily liquidity
and maximize your company’s daily financial value at the
same time by having the available funds in all your
connected checking accounts automatically swept into a
low–risk, high–yield, investment account or use your funds
to pay down your LOC principal balance.
Our team of experts delivers a complete package of
innovative Treasury Management Medical Banking
Solutions to help you make informed financial decisions,
make the most of your cash flow, increase control over
your cash flow, and better compete in the electronic age.
To download this information as a PDF click here.
Contact your Vectra Bank Relationship Manager or
call Treasury Management today at 720-947-7689