Processing a Bulk Insurance Virtual Card Payment

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Description

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

Sometimes insurance companies send payments via virtual credit card. The virtual cards may only allow one swipe of the card, even though there may be many patients listed on the EOB. This guide will outline the steps for processing the bulk virtual credit card payment, posting the individual patient payments, and reconciling the payment on the Bank Deposit report.

Contents

The following topics are covered in this quick guide:

• Section 1 - Creating a New Payment Type
• Section 2 - Process the Virtual Card Payment
• Section 3 - Applying the Payment to Invoices
• Section 4 - Reports
• Section 5 - Alternate Option - Create Bulk Payment Patient

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Section 1 - Creating a New Payment Type

Create a specific payment type to track bulk insurance payments so this can be easily identified in patient accounts as well as in reports.

1. Click the More menu.

   

2. To do this, click Administration.

   

3. Click Billing management.

   

4. Click Payment types.

   

5. The Payment types window opens. Click Add payment type.

   

6. Type in a payment type that can be easily recognized, such as Bulk Insurance Virtual Card. Click Save.

   

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Section 2 - Process the Virtual Card Payment

The virtual card may only allow one payment to be processed, so the payment cannot be run individually for each individual patient amount. This requires the full amount be run in one transaction.

1. Process the virtual credit card payment according to the card processing system in the office. Utilize Global Payments, Bluefin, or another card processing terminal. 
   
   Option 1 - Global Payments

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

   

   
   Option 2 - Bluefin

   To process a payment using Bluefin, log into the PayConnex merchant services portal and complete the virtual credit card transaction.

   

   
   Option 3 - Another credit card terminal

   To process a payment using another card processing terminal enter the card number, expiration date, and CVV through the credit card terminal in the office.

   

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Section 3 - Applying the Payment to Invoices

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

   

2. With that patient's name at the top of the Sidekick, click Billing.

   

3. The Billing module opens. Using the information in the EOB, identify the invoice with the correct date of service.

   

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

   

5. The Add insurance payment page opens. Click the Payment type field.

   

6. The list of payment types displays. Select the payment type Bulk Insurance Virtual Card.

   Note: The list might need to be scrolled to find the correct payment type.

   

7. Make sure each of the line item amounts is correct and matches the amount paid for that procedure line according to the EOB.

   

8. When everything is correct, click Add.

   

9. Continue this process until all the patient payments on the virtual card have been posted.

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Section 4 - Reports

1. Click the More menu.

   

2. Click Reports.

   

3. Click Financial Reports.

   

4. Click Bank Deposit.

   

5. The Bank Deposit report opens in a new tab.

   

6. Leave the Date filter set to Today.

   

7. Click the Payment Type field.

   

8. For the payment type, select only the Bulk Insurance Virtual Card.

   

9. Set any other filters as needed. Click Run report.

   

10. The total amount for the Bulk Insurance Virtual Card 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 posted to patient invoices.

    

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Section 5 - Alternate Option - Create Bulk Payment Patient

1. For this setup, follow the steps in Section 1 Step 1 through 6 before proceeding.

2. An alternate way to post a bulk payment is by creating a mock patient on which to post the payment. Click the Add patient button at the top of the Sidekick.

   

3. For the name, type Bulk Insurance Patient or something that will make this mock patient easy to recognize.

   

4. This method requires an additional payment type to be added. In Administration, under Billing management, click Payment types.

   

5. Add the payment type Bulk Insurance Payment CC Deposit.

   

6. If applicable, make this payment type accepted through Bluefin.

   

7. Or if applicable, enable Global Payments for this payment type.

   

8. With the Bulk Insurance Patient at the top of the Sidekick, click Billing.

   

9. The Billing module opens. The bulk insurance payment can be added as a deposit. Click Deposit.

   

10. Click the Payment Type field.

    

11. Select the Bulk Insurance Payment CC DEPOSIT payment type.

    

12. Run the virtual card through the Global Payments or Bluefin terminal.

    

13. The deposit is posted to the Bulk Insurance Payment account, and the credit message displays at the bottom of the screen.

    

14. Utilizing the EOB, bring up the first patient at the top of the Sidekick, and click Billing.

    

15. Identify the invoice for the correct date of service indicated on the EOB.

    

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

    

17. Click the Payment Type field.

    

18. For the payment type, select Bulk Insurance Virtual Card.

    

19. Make sure the payment amount for each line item reflects the actual amount displayed on the EOB for that patient.

    

20. When everything is correct, click Add.

    

21. Continue this process by repeating Step 13 through 19 until all the insurance payments have been posted for that payment and EOB.

22. Run the Bank Deposit to balance the posted payments against the deposit amount. In Reports, expand Financial Reports. Select the Bank Deposit report.

    

23. Click the Payment Type(s) field.

    

24. The Select payment types window opens. Select only the Bulk Insurance Virtual Card and Bulk Insurance Payment CC Deposit payment types.

    

25. Set the rest of the filters as applicable. Click Run report.

    

26. The total Bulk Insurance Virtual Card should match the total Bulk Insurance Payment CC DEPOSIT.

    

27. Bring the Bulk Insurance Patient up in the Sidekick again, and click Billing.

    

28. Add a credit refund for the deposit. Click the More Options menu at the top of the Billing module.

    

29. Click Add Credit Refund.

    

30. For the refund, enter the exact same amount as the original deposit payment.

    Note: For this refund, the Payment type was set to Previously Existing.

    

31. At the end of the day, run the Bank Deposit report again. This time do not include the Bulk Insurance Payment CC DEPOSIT payment type.

    

32. This allows the Bank Deposit to balance without the original bulk insurance deposit because the payment amounts will be reflected in each patient's account instead.