Insurance Pays with Virtual Credit Card

Our recommendation is to not accept these types of payments, but if you do, be sure you don't run them through TherapyAppointment; run them directly through TSYS. 

When you think about it, the insurance company is saying to you, "we would like to pay you 3% to 5% less for your work, OK?" if they ask you to accept this form of payment. This is the amount of the transaction fee that your credit card company is going to charge you to process this payment. It saves the insurance company some money; they don't have to mail a check. But, this is literally at your expense.

It is not "OK"; it is another attempt to cut back on the fees that are paid for your services, and these are already undervalued.

More and more companies are starting to pay in this way. It is a disturbing trend, but fortunately they cannot force you to accept this form of payment. I would suggest that you refuse to accept payments by credit card going forward.

However, this is just "my humble opinion"; if you choose to continue to accept these payments, here is how to do it:

I suggest running the transaction through the TSYS site directly by logging in to your account with them. Once the transaction has been processed, enter it on the Posting screen as an insurance payment (in the 'Ins. Payment' column) as usual. Don't attempt to process the credit card transaction through the Posting screen in TherapyAppointment; this will record the transaction as a patient payment, and it is not a patient payment.

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