BC Advantage - 2016 Issue 8

Virtual Credit Cards or One More Kick in the Pants

I'm sure by now some of your clients have had the pleasure of receiving a "surprise" in the mail from a third party payer, known as a Virtual Credit Card payment. Although a physical plastic card in never issued, the card information is printed on paper and mailed to the provider with the Explanation of Payment (EOP). This is sent in lieu of a paper check or a payment deposited directly into the practice's bank account. While this may seem like an efficient way to receive third party payments when you process the payment via keying the information...

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