Many providers have found that claims paid by virtual card have increased this year. As a result, the fees they pay for card acceptance have skyrocketed. Does your practice have a planned response to virtual card claims payments? Do you know your rights under the Affordable Care Act (ACA) to a less expensive form of claims payment?
Under the ACA, providers have a number of electronic payment options available to them for claims reimbursements. Options can include the healthcare EFT standard via ACH, credit and virtual card payments, and wire transfers. Each payment type has unique attributes and associated costs, and providers have the ability to choose the payment type that best suits the needs of their practice.
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