Processing a Bulk Insurance Virtual Card Payment

---

Description

This quick guide outlines the steps required to apply a bulk insurance payment using a virtual credit card.

About

Sometimes insurance companies send payments via a virtual credit card. The virtual card may require the full amount to be run in one transaction, but the payment must be distributed amongst the invoices for each applicable patient. This guide will outline the steps for processing the bulk virtual credit card payment, posting the individual patient payments, and reconciling it on the Bank Deposit report.

Note:

Curve Hero has an Automatic Payment feature that automatically posts payments into patient accounts as soon as the claims are processed and paid by the insurance carrier. This greatly reduces the time the office has to spend manually posting payments. To learn more, click Understanding the Automatic-Posting Feature to access the video. 

To add Automatic Payments to your database, contact [e-mail].

Steps

The following topics are covered in this quick guide:

• Section 1 - Setup for Bulk Insurance Card Payments
• Section 2 - Processing the Virtual Card Payment
• Section 3 - Applying the Payment to Invoices
• Section 4 - Confirming the Bank Deposit Report
• Section 5 -  Voiding the Deposit

Section 1 - Setup for Bulk Insurance Card Payments

1. Create a specific payment type to track bulk insurance payments so this can be easily identified in patient accounts as well as in reports. Click the More menu, then click Administration.

   

2. Under Billing Management, click Payment Types.

3. Click Add Payment Type.

4. Type in a name that can easily be recognized, such as Bulk Insurance Card Payment. Click Save.

Important Note: If utilizing  Curve Pay, enable this payment type for Curve Pay. This is done in Administration | Curve Pay | Payment Types. For instructions on how to do this, see the video Setting Up Curve Pay Accounts.

5. Add another Payment type.

6. In the Payment type name field, type Bulk Insurance Card Payment 2, or equivalent, to clearly identify this as a similar but alternate payment type to be used in this process. Click Save.

5. Create a bulk insurance card patient or non-patient contact. Click the Add patient button. 

6. In the Add Contact window, Patient is selected by default. To change it to Non-patient click the circle in front of that option. Either option can be used. 

7. In the respective First Name and Last Name fields, type something that will clearly identify the purpose of this contact. Click Save.

Example: In the First Name field, type Bulk In the Last Name field, type Insurance Payment.

Section 2 - Processing the Virtual Card Payment

4. Process the virtual credit card payment according to the card processing system in the office, be it Curve Pay, Global Payments, Bluefin, or any other non-integrated payment processor. Follow the steps for the method that is used in the office/practice. 

   Option 1 - Curve Pay:  

   1.  To utilize Curve Pay for the payment, make the Bulk Insurance Payment patient/non-patient the active patient, then click Billing.

   

2. In the Billing module, click + Deposit. 

3. On the Add Deposit page, select the Provider. Select one of the providers to whom the payment is attributed. 

4. Click or tab to the Payment type field.

5. In the Payment types dropdown list, click Bulk Insurance Payment.

6. In the Deposit amount field, type the full amount of the virtual card payment.

Note: This payment type must be enabled for Curve Pay prior to adding the payment.

7. Using the instructions in the video Curve Pay Transactions, add the payment.

Option 2 - Non-integrated card processing: To utilize another card terminal, enter the card number, expiration date, and CVV through the card terminal in the office, or log into their payment portal to complete the transaction. 

1. Follow Steps 1-6 in Option 1, then click Add to post the payment. 

Option 3 - Global Payments: To utilize Global Payments, log into the Open Edge merchant services portal and complete the virtual credit card transaction.

1. Follow Steps 1-6 in Option 1, then following the instructions in the video, Payments and Deposits through Global Payments, add the payment. 

Option 2 - Bluefin: To utilize Bluefin, log into the Pay Connex merchant services portal and complete the virtual credit card transaction to add the payment.

Section 3 - Applying the Payment to Invoices

1. Using the information on the insurance EOB, enter a patient's name in the Search field at the top of the Sidekick, and select the patient from the results list.

2. Click Billing.

3. In the Billing module, use the information in the EOB to identify the invoice with the correct date of service.

4. Click the Insurance estimate box on the invoice line.

5. On the Add Insurance Payment page, click the Payment Type field.

6. The list of payment types displays. Select the alternate or second payment type (Bulk Insurance Card Payment 2). 

Note: The user may need to scroll the list to find the correct payment type.

7. Make sure each of the line item amounts correctly match the payment distribution on the EOB.

8. Once everything is correct, click Add.

9. Repeat this process until all the patient payments on the EOB have been posted.

Section 4 - Confirming the Bank Deposit Report

1. Click the More menu, then click Reports.

2. Click Financial Reports.

3. Click Bank Deposit.

4. The Bank Deposit report will open in a new tab. 

5. Leave the Date filter set to Today.

6. Click the Payment Type(s) field.

7. Select the Bulk Insurance Virtual Card 2 payment type.

8. Set any other filters as needed. Click Run Report.

9. The total amount for the Bulk Insurance Virtual Card 2 payment type should match the total indicated on the insurance bulk payment EOB. These matching amounts verify that all payments on the EOB have been correctly posted to the patient invoices.

Section 5 - Voiding the Deposit

1. Make Bulk Insurance Payment the active patient, and if it is not already open, go into Billing.

2. In the Billing module, click the More Options menu on the Deposit row.

3. Click Void deposit. This assures this amount does not display as an additional amount for the current date, assuring the Bank Deposit, as well as other financial reports, are correct.