Services for Hospitals & Health Systems
VRA® (Virtual Reimbursement Account)
A VRA is the most efficient way to maximize payment process for facilities or health systems. VRA allows you to receive automated electronic payments from Payers who would normally send paper checks. With VRA, you gain efficiencies that help you reach a new level of productivity.
VRA offers a choice of direct Automated Clearinghouse (ACH) payments or MasterCard —delivered payments which settle into your bank account. The ACH aspect of VRA is CAQH CORE® certified, which ensures payments comply with ACA and HIPAA standards and operating rules.
VRA solves common administrative burdens health care, which helps organizations:
- Realize Savings on Payment Processing —Eliminate fees associated with manual processes, which substantially reduces processing costs
- Eliminate Manual Processes —VRA settles payments directly into your bank account—no more typing, swiping or manual processes; you’ll be notified instantly when payments settle
- Automate Re-Association —Payments are settled as an ACH-CCD+ with a Re-association Trace Number, which can be automatically re-associated with the 835 within your system*
- Ensure Compliance —The ACH settlement from VRA is CAQH CORE® certified, and delivers clean, compliant 835s and payment
- Simplify Payment and Data Handling —Manage payments and data from multiple Payers, via one relationship with Zelis Payments
Not all claim payments are delivered where they ultimately need to go within large, complex healthcare organizations. The resulting re-routing of those dollars and data inevitably leads to delays in reconciliation or balance billing —sometimes by as much as a month. Zelis Payments solves this problem with its Smart Routing. With Smart Payment and Data Routing, funds and data are routed electronically at preferred levels within the organization —speeding time to reconciliation and shortening the revenue cycle.
Membership in VRA provides access to our QuickPay portal, a secure gateway that provides access to up to 7 years of payment data. QuickPay allows you to quickly and easily investigate payment history by claim or patient and print or download data in various formats (835, CSV, XLS, or PDF).
CAQH CORE®, the CORE-certification/Endorser Seals and logo are registered trademarks of CAQH® Copyright 2010, Council For Affordable Quality Healthcare®. All rights reserved.