Safe, Secure & Efficient Processing
F&M’s Lockbox application is a payment processing service that collects your client(s) payments, scans all of your paperwork, makes your daily deposit(s) and allows for easy electronic review and reconciliation.
Features:
- Save time and expenses
- Receive same day credit*
- Consolidate all check and credit card payment images
- Review daily deposits and paperwork online
- Create customized reports
- Monitor client payments
- 24/7 online access
- Data transmission
- Digital archive for 7 years of payment history
- Simple search functionality
- Set-up custom and system alerts
- Customizable Dashboard
Who can benefit from Lockbox Services?
Business and industries of almost every kind can benefit from Lockbox Services. Businesses that process a high volume of checks or large dollar amounts. Below are some industries that could enjoy the convenience of Lockbox Services at F&M Bank:
- Healthcare Services Offices: Doctors, Dentists, Veterinarians
- Schools
- Municipalities/Utility companies
- Insurance companies
- Property Management companies
- Mortgage Firms
- Labor Unions
- United States Charitable Foundations (501c3)
- United States publicly traded Pharmaceutical companies (no internet pharmacies)
- Trucking companies
Med eSolutions**: Lockbox Solution Tailored for Healthcare Businesses.
Med eSolutions is F&M Bank’s HIPAA-compliant processing solution for healthcare clients. Let F&M process your patient and insurance payments and streamline your revenue cycle, reduce your back office’s workload and enhance your claim-to-payment life cycle.
Features:
- Documents uploaded by patient name for simplified reconciliation
- Explanation-of-Benefits (EOBs)
- Electronic Remittance Advice (ERA)
- Self-payments
- Reconciliation of payments
- Secondary insurance processing
- Denial management
- Balance and post claims and payments
- 24/7 online access
- Digital archive for 7 years of payment history
** Please note that Electronic Lockbox is a prerequisite for Med eSolutions.