We are using Transfirst to process our credit card payments. It stores the last CC payment information. Now that more ins companies are paying via virtual credit cards, the patient CC info is lost. Is there any way around this? I would like to keep patient info for their balance.
Does the plan reimburse you the office credit card processing fees if they pay by virtual credit card? I advise my offices not to accept virtual credit cards due to the fact that the office processing rate for Hand Keyed Transactions is much higher, and can be anywhere from 3-5%! This sometimes small amount adds up over time for the practice. For instance, an $800.00 payment would have a credit card processing amount of at least $28.00 plus any transaction fee. Unless the dental plan is reimbursing the practice for those fees, tell them you will no longer accept that as a form of payment.
Hmmmm.....When we got our first virtual credit card payment from an insurance company, I tried to refuse that type of payment and was told that since I accept credit card payments from patients I must accept them from an insurance company....
We have always had success calling them and asking for a check NOT the virtual CC payment. They always say it will take a while and we tell them, we're fine with that. I understood when you get them and when we have called, we ask that no check from their company come that way. I must admit we've been pretty successful. It's a pain to call and luckily we don't get that many, and there are times I think we might as well go with it. But the checks come within 2 weeks and we don't have one more CC fee for an insurance company.
I've had this same experience, Kay. I call to refuse the payment, and they tell me it'll take 10 working days to get the check. I'm fine with that, and I ask them to discontinue all CC payments from that particular insurance.
Unless they're going to start adding in extra funds to cover the processing fees, I'm going to keep refusing them.