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Account resolution specialist vs collections specialist

The differences between account resolution specialists and collections specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an account resolution specialist and a collections specialist. Additionally, an account resolution specialist has an average salary of $35,602, which is higher than the $35,164 average annual salary of a collections specialist.

The top three skills for an account resolution specialist include account resolution, outbound calls and inbound calls. The most important skills for a collections specialist are customer service, patients, and customer accounts.

Account resolution specialist vs collections specialist overview

Account Resolution SpecialistCollections Specialist
Yearly salary$35,602$35,164
Hourly rate$17.12$16.91
Growth rate-8%-8%
Number of jobs87,71340,277
Job satisfaction--
Most common degreeBachelor's Degree, 39%Bachelor's Degree, 34%
Average age4646
Years of experience1212

What does an account resolution specialist do?

An account resolutions specialist works at a company's accounting department, where they are in charge of overseeing account receivables to ensure client compliance. Their responsibilities usually include conducting research and analysis, assessing client accounts and credit histories, coordinating with managers and collection agents, and monitoring delinquent accounts. They may also directly communicate with clients to follow-up on invoices, process payments, or even arrange new payment plans while adhering to the company's policies and regulations. Moreover, they must maintain records of all transactions and present regular reports to managers.

What does a collections specialist do?

As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.

Account resolution specialist vs collections specialist salary

Account resolution specialists and collections specialists have different pay scales, as shown below.

Account Resolution SpecialistCollections Specialist
Average salary$35,602$35,164
Salary rangeBetween $29,000 And $43,000Between $27,000 And $45,000
Highest paying CityHartford, CTBoston, MA
Highest paying stateConnecticutConnecticut
Best paying companyAmerican ExpressKent Daniels & Associates
Best paying industryFinanceFinance

Differences between account resolution specialist and collections specialist education

There are a few differences between an account resolution specialist and a collections specialist in terms of educational background:

Account Resolution SpecialistCollections Specialist
Most common degreeBachelor's Degree, 39%Bachelor's Degree, 34%
Most common majorBusinessBusiness
Most common college--

Account resolution specialist vs collections specialist demographics

Here are the differences between account resolution specialists' and collections specialists' demographics:

Account Resolution SpecialistCollections Specialist
Average age4646
Gender ratioMale, 32.4% Female, 67.6%Male, 30.5% Female, 69.5%
Race ratioBlack or African American, 12.5% Unknown, 4.1% Hispanic or Latino, 18.9% Asian, 3.7% White, 60.4% American Indian and Alaska Native, 0.5%Black or African American, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between account resolution specialist and collections specialist duties and responsibilities

Account resolution specialist example responsibilities.

  • Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
  • Research and resolve complex customer accounts while adhering to department policies and procedures, as well as FDCPA guidelines.
  • Resolve outstanding patient accounts by an integrate team dynamic with office administrators, insurance companies and patients.
  • Insure office practices are in compliance with HIPAA regulations.
  • Review and correction of diagnosis codes, CPT codes and modifiers.
  • Advise clients/debtors of necessary actions and strategies for debt repayment while using FDCPA and other government regulations.
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Collections specialist example responsibilities.

  • Manage university A/R processes and enforce tuition payment policy.
  • Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
  • Review denied Medicare and Maine Medicaid insurance claims for accuracy.
  • Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.
  • Analyze accounts for patients ineligible for private insurance, Medicare or Medicaid and indicating inability to pay balance.
  • Possess effective persuasion and negotiation skills, excellent interpersonal and communications skills with the ability to deliver quality customer service.
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Account resolution specialist vs collections specialist skills

Common account resolution specialist skills
  • Account Resolution, 17%
  • Outbound Calls, 12%
  • Inbound Calls, 10%
  • Account Balances, 10%
  • Patients, 10%
  • Federal Regulations, 8%
Common collections specialist skills
  • Customer Service, 23%
  • Patients, 8%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
  • Delinquent Accounts, 4%
  • Phone Calls, 4%

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