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Billing assistant vs finance assistant

The differences between billing assistants and finance assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a billing assistant and a finance assistant. Additionally, a finance assistant has an average salary of $37,926, which is higher than the $33,745 average annual salary of a billing assistant.

The top three skills for a billing assistant include patients, data entry and medicaid. The most important skills for a finance assistant are customer service, data entry, and payroll.

Billing assistant vs finance assistant overview

Billing AssistantFinance Assistant
Yearly salary$33,745$37,926
Hourly rate$16.22$18.23
Growth rate-3%-8%
Number of jobs34,070118,749
Job satisfaction--
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 59%
Average age4650
Years of experience22

What does a billing assistant do?

A billing assistant is primarily in charge of performing support tasks to maintain smooth billing operations in an establishment. Their responsibilities typically include preparing and processing invoices for clients, sending billing adjustments, printing and reviewing invoices and billings, receiving payments, and monitoring delinquent invoices, sending reminders as necessary. They may also close and balance payments, calculate discounts, and maintain records of all transactions. Moreover, a billing assistant must be alert and proactive for any errors and inconsistencies, dealing with them accordingly.

What does a finance assistant do?

A finance assistant is responsible for supporting the financial department with daily operations by doing administrative and clerical tasks as needed. Finance assistants' duties include sorting financial records, updating account spreadsheets, assisting on bank statements reconciliation, processing payments, generating an invoice, auditing financial statements, escalating financial discrepancies for review, and reviewing cost analysis reports. A finance assistant must be knowledgeable of the financial industry and accounting processes, as well as have strong analytical and organizational skills.

Billing assistant vs finance assistant salary

Billing assistants and finance assistants have different pay scales, as shown below.

Billing AssistantFinance Assistant
Average salary$33,745$37,926
Salary rangeBetween $27,000 And $41,000Between $27,000 And $52,000
Highest paying CityBaltimore, MDWashington, DC
Highest paying stateWashingtonConnecticut
Best paying companyUniversity of California, BerkeleyBoston Consulting Group
Best paying industryTechnologyManufacturing

Differences between billing assistant and finance assistant education

There are a few differences between a billing assistant and a finance assistant in terms of educational background:

Billing AssistantFinance Assistant
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 59%
Most common majorBusinessBusiness
Most common collegeStanford UniversityUniversity of Pennsylvania

Billing assistant vs finance assistant demographics

Here are the differences between billing assistants' and finance assistants' demographics:

Billing AssistantFinance Assistant
Average age4650
Gender ratioMale, 14.2% Female, 85.8%Male, 24.9% Female, 75.1%
Race ratioBlack or African American, 10.2% Unknown, 4.3% Hispanic or Latino, 22.0% Asian, 6.8% White, 55.9% American Indian and Alaska Native, 0.8%Black or African American, 9.3% Unknown, 3.9% Hispanic or Latino, 16.3% Asian, 3.8% White, 66.0% American Indian and Alaska Native, 0.7%
LGBT Percentage7%6%

Differences between billing assistant and finance assistant duties and responsibilities

Billing assistant example responsibilities.

  • Manage all billing accounts including Medicare/Medicaid, HMO and individual accounts.
  • Post insurance payments, explain patient what the EOB is about, collect payments from patients.
  • Communicate annual contracting, CPT, and ICD-9 yearly changes to doctor's offices by creation of formal notification.
  • Experience with billing systems and practices with CPT coding, ICD-9, and usages of coding for productive billing.
  • Bill insurance companies using ICD-9 coding.
  • Used denial reason codes on paper & electronic EOB in EMR/EHR software to examine denials.
  • Show more

Finance assistant example responsibilities.

  • Manage finance operations of assign USPS location.
  • Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
  • Maintain cash receipts and disbursement records using QuickBooks and prepare bank reconciliations.
  • Provide emergency Medicaid screening for undocument patients, and perform necessary follow-up calls pertaining to NYC Medicaid applications.
  • Interpret information requests and correspond with patients and agencies in accordance with hospital, state and HIPAA regulations.
  • Schedule appointments, request prior authorization with appropriate CPT and ICD-9 codes, coordinate surgeries, procedures, etc.
  • Show more

Billing assistant vs finance assistant skills

Common billing assistant skills
  • Patients, 21%
  • Data Entry, 11%
  • Medicaid, 5%
  • Patient Accounts, 4%
  • CPT, 3%
  • Front Desk, 3%
Common finance assistant skills
  • Customer Service, 21%
  • Data Entry, 10%
  • Payroll, 9%
  • Purchase Orders, 6%
  • Financial Assistance, 5%
  • Credit Card, 4%

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