Virtual Card payment from Insurance

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Kate Vessels

• January 18, 2023 23:47

I have to enter a virtual card payment from an insurance company. How do you do this with the new billing system? 

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  Kim Sullivan

  • January 26, 2023 13:58

  I request that the company sends me a paper check instead of the virtual card.  That way I don't have to pay the credit card fee and receive all of the payment.  I found that they make this process difficult - first I had to log on to the v card site and cancel the v card, then I had to log on to the echo check site to request payment.  The check site then tried to get me to opt for a payment option that cost me money - either a v card or eft.  The final option on their list is to print a check.  They claim it can take 1-10 days, but I always get it immediately.  I was worried that a printed check wouldn't work, but my bank accepted it just fine.  Hope this helps!

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  Barbara Belicia

  • February 06, 2023 20:13

  Hi Kate,

  1) Stripe is connected to SimplePractice, but your account is also available outside of simplepractice on the stripe app at https://dashboard.stripe.com/login.

  2) When you get an insurance payment in the form of a virtual credit card, do not run it through simplepractice.  The process they recommend creates tracking problems with payment and invoices. This is what was recommended to me.

  3) Post your payment based on the transaction/check details on the ERA. This shows the claim is paid and appropriately zero out the bill.

  4)Next sign directly into stripe app (https://dashboard.stripe.com/login) and run the payment.  This sends the payment (money) directly to your bank account.

  Result: the payment is documented in simplepractice. The cash is in your bank account. finally, there is no duplication of payment in your stripe report and not creating and deleting of invoices.

  Hope this Helps.

  Barb

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  Justin Hersom

  • February 13, 2023 23:09

  How come my Stripe account is only an express account? I am unable to post any transactions via Stripe currently. I have contacted stripe, but if your directions are correct Barbara, then that leaves me to assume that Stripe made an error in creating my account. 

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  Barbara Belicia

  • February 14, 2023 12:58

  Hi Justin,

  If you contact Stripe, they will tell you what verification or document they need to be able to change your account so you can post transactions. I understand they have different accounts for security purposes and sometimes the person posting the payment is not the account owner.  Good luck.

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  Anna Jones

  • April 25, 2023 22:53

  Unfortunately, I did not see this post prior.

  I ran my virtual payment from insurance through simple practice. I created a virtual payment client to run virtual cards through. Then I refunded it via cash (oops). How do I get this money for payment of my services? 

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