Insurance Pays with Virtual Credit Card
- DO NOT run them through TherapyAppointment, as doing so will cause you to have inaccurate accounting for your clients.
- DO run them through your credit card processor's virtual portal. This may be with Global Payments/TSYS or International Bancard System. Each of these systems provides you with a username/login to use to directly access their terminal.
- After processing the payment, enter the payment by using the Enter an EOB process.
Note: More and more companies are starting to pay in this way but fortunately, they cannot force users to accept this form of payment. TherapyAppointment suggests their users refuse to accept payments by virtual credit card, going forward.
Below are some of the most common Virtual Credit Card Payment systems used by insurance companies and links to their website where instructions about switching to a different payment type are available. If you receive virtual credit cards from these vendors, you can request that they send you either a paper check or direct deposit. Be aware that in some cases, them setting up direct deposit may incur a fee. However, the convenience of direct deposit and e-delivery of the ERA file may be worth the fee that they are charging, which seems to be around 2%. It might help to complain to the insurance company's provider relations department about these practices: You should not have to 'pay' to get paid for your services.
- Zelis Payments: https://www.zelispayments.com/virtualcard/ - There are instructions on this page to have payments sent directly to your bank account.
- ECHO Payments ECHO Payment Options (echochecks.com) - Be aware they charge 2% to receive EFT, but paper checks are free.