Insurance Companies Pay via Credit Card Now

on April 9th, 2013 | Filed under Optoblog

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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1 Comment

One Response to “Insurance Companies Pay via Credit Card Now”

  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.