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Insurance Companies Pay via Credit Card Now

Well, this was annoying. I did a favor for a patient and billed an insurance that I’m not contracted with but which allowed any provider to bill them.
Instead of the mailed EOB including a check, it had a graphic of a credit card with its number, expiration, security code, and zip code.
They call it “QuickRemit, virtual prompt payment.” (I guess by prompt, they mean 6 weeks from date of service.)
If I didn’t have a merchant account, I wouldn’t be able to process the funds. Luckily I have Square that allows me to punch in the numbers to get paid from a card not present, but I find it really annoying that I lost about 4% of the payment because the insurance company chose not to sent a check!
I wonder what the benefit is for them to do this. I get charged to process the payment and I’m sure they get charged to charge a virtual credit card. So, why not send a check, Insurance?

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One Response

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  1. REG says

    there is no benefit to you, and you should refuse these payments. this is a scam that enables the processer to make money, the payer to pick up rebates for paying by CC, and you to take the hit.

Written by David Langford, O.D.

David Langford is a graduate of PUCO 2003, worked as a federal service optometrist, then as fill-in commercial, then solo private practice, and now works full time in his favorite modality: independent doctor of optometry inside a Wal-Mart Vision Center.

http://optoblog.com

David Langford, O.D. has written 423 posts on optoblog.com

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