215-855-1115

PROVIDER PAYMENTS

The InsurCard Virtual Card is a unique electronic payment solution designed specifically to make insurance payments to medical care providers.

PROVIDER PAYMENTS

The InsurCard Virtual Card is a unique electronic payment solution designed specifically to make insurance payments to medical care providers.

Provider Payments Virtual Card

 

The InsurCard Virtual Card is a unique electronic payment solution designed specifically to make insurance payments to healthcare providers.

Our turnkey program is faster and more secure than a mailed check. Providers receive an InsurCard Virtual Card by secure email or fax for easy entry into their merchant card terminal. Providers get their payments immediately and, as with checks, the payments are accompanied by an Explanation of Payment advice explaining exactly which services are covered by the payment.

The InsurCard Virtual Card is issued by StoneEagle Service, Inc. and powered by its patented VPay process

Provider Payments Virtual Card

The InsurCard Virtual Card is a unique electronic payment solution designed specifically to make insurance payments to healthcare providers.

Our turnkey program is faster and more secure than a mailed check. Providers receive an InsurCard Virtual Card by secure email or fax for easy entry into their merchant card terminal. Providers get their payments immediately and, as with checks, the payments are accompanied by an Explanation of Payment advice explaining exactly which services are covered by the payment.

The InsurCard Virtual Card is issued by StoneEagle Service, Inc. and powered by its patented VPay process

DID YOU KNOW…

“Payers Currently Using The InsurCard Virtual Card Process Pay 50%-70% Of Their Payment Transactions and 78% Of Their Payment Dollars By a Faxed Virtual Card.”

FDIC STUDY ADDENDUM
-SEPTEMBER 2010

Benefits

  • Implementation is at no cost to the payer (insurer or TPA).
  • Payment processing costs are reduced significantly. The program eliminates mail costs and the uncertainly of mail timing and address changes. No more lost, stolen, or damaged checks.
  • Fraud declines because the one-time use card has a short expiration date that cannot be overcharged.
  • The Explanation of Payment advice (Explanation of Benefits) is exactly as it appears on the payer’s paper check. Providers can maintain their existing internal method of matching payments to bills and there is never any confusion over what services are covered by the payment
  • We experience a first time acceptance rate of over 70% among healthcare providers

The InsurCard Advantage

  • We are a vertically integrated solution. The key components of our processes are all in-house, including the Call Center, Development, IT, EFT
  • Providers do not need to enroll
  • Providers continue to use their existing office technology
  • Reconciliation is easy for Payer and Provider as payments are not consolidated making it simple for the Provider to reconcile and the Payer to reconcile and handle exceptions, corrections, voids etc.
  • Accepted by more than 450,000 health care providers
  • We are the authorizing processor which allows complete control of the entire process and gives our Call Center agents real-time access and real-time ability to address any provider issues to ensure the highest level of customer service
  • We experience a first time acceptance rate of over 70% among healthcare providers

DID YOU KNOW…

“Payers Currently Using The InsurCard Virtual Card Process Pay 50%-70% Of Their Payment Transactions and 78% Of Their Payment Dollars By a Faxed Virtual Card.”

FDIC STUDY ADDENDUM
-SEPTEMBER 2010

Benefits

  • Implementation is at no cost to the payer (insurer or TPA).
  • Payment processing costs are reduced significantly. The program eliminates mail costs and the uncertainly of mail timing and address changes. No more lost, stolen, or damaged checks.
  • Fraud declines because the one-time use card has a short expiration date that cannot be overcharged.
  • The Explanation of Payment advice (Explanation of Benefits) is exactly as it appears on the payer’s paper check. Providers can maintain their existing internal method of matching payments to bills and there is never any confusion over what services are covered by the payment
  • We experience a first time acceptance rate of over 70% among healthcare providers

The InsurCard Advantage

  • We are a vertically integrated solution. The key components of our processes are all in-house, including the Call Center, Development, IT, EFT
  • Providers do not need to enroll
  • Providers continue to use their existing office technology
  • Reconciliation is easy for Payer and Provider as payments are not consolidated making it simple for the Provider to reconcile and the Payer to reconcile and handle exceptions, corrections, voids etc.
  • Accepted by more than 450,000 health care providers
  • We are the authorizing processor which allows complete control of the entire process and gives our Call Center agents real-time access and real-time ability to address any provider issues to ensure the highest level of customer service
  • We experience a first time acceptance rate of over 70% among healthcare providers

The Six Steps of the InsurCard Process for Provider Payments

STEP 1

The insurance company or TPA transmits their check payment file (including checks and Explanation of Payments/Benefits (EOP/EOB)) to the InsurCard Virtual Card processing center.

STEP 2

The InsurCard Virtual Card processing center runs the check file through a conversion program.

STEP 3

Each payment is transformed into an InsurCard Virtual Card payment in the image of a fax or an email to the designated provider.

STEP 4

The InsurCard Virtual Card fax or email is then sent to the provider. It contains the payer’s name, EOP/ EOB, a one-time use virtual prepaid debit card, and instructions for use.

STEP 5

Upon receiving the fax or email, the provider keys the card number into their merchant terminal and matches the payment to the customer bill based on the EOP/EOB included on the fax or email.

STEP 6

Use is monitored by the InsurCard Virtual Card processing center which also takes calls and answers questions from providers.

The Six Steps of the InsurCard Process for Provider Payments

STEP 1

The insurance company or TPA transmits their check payment file (including checks and Explanation of Payments/Benefits (EOP/EOB)) to the InsurCard Virtual Card processing center.

STEP 2

The InsurCard Virtual Card processing center runs the check file through a conversion program.

STEP 3

Each payment is transformed into an InsurCard Virtual Card payment in the image of a fax or an email to the designated provider.

STEP 4

The InsurCard Virtual Card fax or email is then sent to the provider. It contains the payer’s name, EOP/ EOB, a one-time use virtual prepaid debit card, and instructions for use.

STEP 5

Upon receiving the fax or email, the provider keys the card number into their merchant terminal and matches the payment to the customer bill based on the EOP/EOB included on the fax or email.

STEP 6

Use is monitored by the InsurCard Virtual Card processing center which also takes calls and answers questions from providers.

Call Today

215-855-1115

Call Today

215-855-1115

InsurCard® is the leading issuer of debit cards for the payments of property claims and casualty claims. Workers’ Compensation claim payments are made with state approved prepaid programs for injured worker benefits.

Get More Information

Have a question about the InsurCard programs? Speak with an associate today.

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Share this page with friends and business associates through social media and email.

InsurCard® is the leading issuer of debit cards for the payments of property claims and casualty claims. Workers’ Compensation claim payments are made with state approved prepaid programs for injured worker benefits.

GET MORE INFORMATION

Have a question about the InsurCard programs? Speak with an associate today.

SHARE WITH AN ASSOCIATE

Share this page with friends and business associates through social media and email.

CORPORATE HEADQUARTERS
881 Sumneytown Pike
Lansdale, PA 19446

SALES & PRODUCT INFORMATION
Phone: 215-855-1115
Email: info@InsurCard.com

CORPORATE CUSTOMER SERVICE
Phone: 215-855-1115
Email: support@InsurCard.com