Billing analyst vs payment processor

The differences between billing analysts and payment processors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a billing analyst, becoming a payment processor takes usually requires 4-6 years. Additionally, a billing analyst has an average salary of $51,544, which is higher than the $34,030 average annual salary of a payment processor.

The top three skills for a billing analyst include customer service, patients and billing issues. The most important skills for a payment processor are customer service, patients, and data entry.

Billing analyst vs payment processor overview

	Billing Analyst	Payment Processor
Yearly salary	$51,544	$34,030
Hourly rate	$24.78	$16.36
Growth rate	-3%	-5%
Number of jobs	30,566	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 35%
Average age	46	51
Years of experience	2	6

What does a billing analyst do?

A billing analyst is responsible for supporting the operations of an accounting department, evaluating and issuing invoices, and analyzing the financial transactions of the company. Billing analysts assist with creating financial statements and reports, managing billing discrepancies, updating recent account statements on the company's database, and checking the accuracy of balance sheets. A billing analyst must have excellent analytical skills, as well as the knowledge of the accounting principles, performing account reconciliations, processing receivables, and tracking clients' billing statements.

What does a payment processor do?

A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.

Billing analyst vs payment processor salary

Billing analysts and payment processors have different pay scales, as shown below.

	Billing Analyst	Payment Processor
Average salary	$51,544	$34,030
Salary range	Between $35,000 And $73,000	Between $27,000 And $42,000
Highest paying City	Washington, DC	San Jose, CA
Highest paying state	Alaska	Alaska
Best paying company	Meta	University of California, Berkeley
Best paying industry	Finance	Insurance

Differences between billing analyst and payment processor education

There are a few differences between a billing analyst and a payment processor in terms of educational background:

	Billing Analyst	Payment Processor
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Billing analyst vs payment processor demographics

Here are the differences between billing analysts' and payment processors' demographics:

	Billing Analyst	Payment Processor
Average age	46	51
Gender ratio	Male, 29.7% Female, 70.3%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 11.3% Unknown, 4.4% Hispanic or Latino, 18.4% Asian, 7.3% White, 57.7% American Indian and Alaska Native, 0.9%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between billing analyst and payment processor duties and responsibilities

Billing analyst example responsibilities.

Set up, manage, and terminate ACH accounts.
Manage multiple contracts including timely and accurate billing of monthly invoices, payment notifications, and reconciliations.
Use of the CMS website to determine the correct LCDs or NCDs for Medicare claims.
Master sales, events, and reservations systems.
Produce month-end reports from IDX for executive staff.
Prepare provisional invoices for billing after provisional rates are receive from DCAA.

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Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

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Billing analyst vs payment processor skills

Common billing analyst skills

Customer Service, 16%
Patients, 7%
Billing Issues, 6%
Strong Analytical, 5%
Billing System, 5%
Data Entry, 4%

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%

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Updated January 8, 2025

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