Insurance Payments via Credit Card

[FormerPLM]

Many insurance companies are now paying claims with one-time use or "virtual" credit cards.  While this gets the payment to your bank account quickly, you may be paying a processing fee of up to 2%.  Most carriers will provide you with an 800 number to call, should you decide to opt out of these types of payments. 

If claims payments by credit card are a fit for your office, SoftDent Version 16 is ready to help!  The following transaction types have been added to version 16 to handle single use/virtual credit card payments:

11.93 MasterCard Insurance Payment

12.93 VISA Insurance Payment

13.93 Discover Insurance Payment

14.93 American Express Insurance Payment

And to help you track and balance these transactions, insurance credit card payment amounts are now included in the following reports:

• Contractual Plan Analysis Report:Insurance payments by credit card are listed as separate entries with an amount in the Credit column.
• The Contractual Plan Analysis Summary page lists the new "Insurance Payments" amounts in the Collections section.
• Capitation Collections Summary Report:Amounts posted for insurance payments by credit card are added to the Supplemental Insurance Payments line.
• Insurance Check Distribution Report (now renamed the Insurance Payment Distribution Report):Insurance payments by credit card are listed as separate entries.
• Deposit Slip:Insurance payments by credit card are displayed on the Credit Card Slips to Deposit page.
• Daysheet:Insurance payments by credit card are displayed on the first page, with an amount in the Credit column.
• Insurance payments by credit card are also displayed on the Credit Card Deposit Slips page.
• Account Billing Statement:Insurance payments by credit card are displayed as separate entries and include the claim number, if a claim has been attached.
• Credit Card Receipt:Insurance payments by credit card are displayed as separate entries.

Let's keep the conversation going, are you accepting insurance payments by credit card in your practice?  Are you being charged processing fees?

[drcavola]

The "real" benefit by doing so is the ability to attach the insurance claim to the credit card payment.  Previously, there was not a way in order to attach or complete the claims, other than through a series of workarounds, or by manually deleting the insurance claims after the credit card insurance payment is posted. 

[FormerPLM]

Great point Dr. C, glad to have you in the community!

[karen]

when i look up those codes in my softdent I don't see them? Do we need to add them?

[drcavola]

Karen, they are the credit card posting codes, but with code modifiers at the end.  For example, if Visa was code 11, then code 11.5 would be for Visa insurance virtual check (don't quote me , just from memory).  If you don't see them on your ADA code list, then click off the "inactive" and maybe they'll be present.

[karen]

I understand what they are but they aren't in my inactive codes either.

[FormerPLM]

Hi karen​,

Please check your SoftDent version, this feature was added in 16.2.0. 

Thanks!

Jeff

[karen]

Thanks so much! We are only on 16.1.1! Is the version 16.2.0 available for us?

Karen

[FormerPLM]

Yes, karen​, it is available.  I will have support send you the update. 

Thanks for participating in the Community!

[susanh.]

I've been adding the 11.93, 12.93 etc. codes, but I'm not seeing where you can add in your claim #. I'm still having to take out the insurance claim by adding a "2" and making a note. Any advice?