Yes this can be replaced using a for loop and a database query.
var payerCount = message.getCount('/ClinicalDocument/component/structuredBody/component[section/code/@code="48768-6"]/section/entry');
for (var i=1 ; i <= payerCount ; i++) {
var insid = message.getNode('/ClinicalDocument/component/structuredBody/component[section/code/@code="48768-6"]/section/entry[' + i + ']/act/id/@extension');
var queryResult = qie.doQuery(
"dbName",
"select IDNO from insuranc where INSID = '" + insid + "'");
message.setNode('/ClinicalDocument/component/structuredBody/component[section/code/@code="48768-6"]/section/entry[' + i + ']/act/id/@extension', queryResult.getNode("idno"));
}