What does an account resolution specialist do?

Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.

While similarities exist, there are also some differences between account resolution specialists and collector. For instance, account resolution specialist responsibilities require skills such as "account resolution," "account balances," "treasury," and "strong customer service." Whereas a collector is skilled in "excellent interpersonal," "outbound collection calls," "repayment schedules," and "party collections." This is part of what separates the two careers.

A bill collector is responsible for reaching out to the customers to collect overdue payments, negotiate repayment plans, and update account information upon settling of payments. Bill collectors monitor the contact details of the customer, utilizing locator tools and software as required by the organization, and review contract terms to decide on credit advice or escalate the issue to a higher tier. A bill collector must have excellent communication and customer service skills, especially in explaining the customer's case and perform debt collection duties efficiently.

In addition to the difference in salary, there are some other key differences worth noting. For example, account resolution specialist responsibilities are more likely to require skills like "account resolution," "account balances," "federal regulations," and "credit card accounts." Meanwhile, a bill collector has duties that require skills in areas such as "medical billing," "data entry," "medical claims," and "credit card payments." These differences highlight just how different the day-to-day in each role looks.

A medical collector deals with collection of bills related to medical services. They handle healthcare-related debt, collect patient insurance information, and develop repayment plans to accommodate debtors that are unable to settle their accounts. Qualifications for this position include knowledge of accounting and training in insurance, business or finance.

Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from account resolution specialist resumes include skills like "account resolution," "account balances," "patient accounts," and "credit card accounts," whereas a medical collector is more likely to list skills in "healthcare," "medical collections," "medical terminology," and "phone calls. "

A billing representative assists with the overall operations of the organization's billing department. Billing representatives post payments timely on the database, update account statements, generate financial reports, release invoices, and resolve account discrepancies. They also perform client accounts reconciliation as needed, monitor account receivables, review overdated balance, and notify clients of payment updates to ensure accurate and timely billing. A billing representative must have strong analytical and communication skills to manage clients' accounts, as well as comprehensive knowledge on the accounting industry to explain the payment terms and policies of an organization to a client.