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Billing associate vs finance clerk

The differences between billing associates and finance clerks 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 associate, becoming a finance clerk takes usually requires 4-6 years. Additionally, a finance clerk has an average salary of $39,225, which is higher than the $34,612 average annual salary of a billing associate.

The top three skills for a billing associate include patients, customer service and data entry. The most important skills for a finance clerk are data entry, purchase orders, and HR.

Billing associate vs finance clerk overview

Billing AssociateFinance Clerk
Yearly salary$34,612$39,225
Hourly rate$16.64$18.86
Growth rate-3%-5%
Number of jobs23,835143,372
Job satisfaction--
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 44%
Average age4651
Years of experience26

What does a billing associate do?

A billing associate is responsible for processing payments and invoices for customers and ensuring accurate financial reports for auditing purposes. Billing associates utilize the business' accounting systems to monitor billing transactions and resolve account discrepancies accordingly. They also update customer records in the database, post payments timely, and escalate outstanding bills to the supervisor for resolution. A billing associate reaches out to the clients and customers for payment responsibility and respond to the inquiries and concerns they may have.

What does a finance clerk do?

Finance clerks are financial professionals who are responsible for performing various administrative tasks such as keeping financial records, preparing bills, and delivering excellent customer service. These clerks are required to process bills, checks, receipts, and other documents to ensure that they are all properly signed and distributed. They must verify financial and other data so that they can enter those data into the database and maintain updated records. Finance clerks must also assist with account reconciliations and should report the status of accounts and discrepancies to the management.

Billing associate vs finance clerk salary

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

Billing AssociateFinance Clerk
Average salary$34,612$39,225
Salary rangeBetween $27,000 And $42,000Between $27,000 And $56,000
Highest paying CityVancouver, WANew York, NY
Highest paying stateWashingtonNew York
Best paying companyHuron Consulting GroupUnited States Courts
Best paying industryTechnologyGovernment

Differences between billing associate and finance clerk education

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

Billing AssociateFinance Clerk
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 44%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Billing associate vs finance clerk demographics

Here are the differences between billing associates' and finance clerks' demographics:

Billing AssociateFinance Clerk
Average age4651
Gender ratioMale, 20.6% Female, 79.4%Male, 26.2% Female, 73.8%
Race ratioBlack or African American, 10.7% Unknown, 4.4% Hispanic or Latino, 18.5% Asian, 7.6% White, 58.0% American Indian and Alaska Native, 0.9%Black or African American, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6%
LGBT Percentage7%7%

Differences between billing associate and finance clerk duties and responsibilities

Billing associate example responsibilities.

  • Manage the submission and reimbursement of claims bill to insurance companies using ICD-9 coding.
  • Accept and process healthcare claims and confidential medical records; verify patient eligibility and manage the Medicare and Medicaid billing process.
  • Verify correct ICD-9 and CPT codes for a variety of specialties submission of electronic claims to clearinghouse.
  • Ensure appropriate medical terminology and HIPAA compliance for all claims entry/online submissions, payment posting, insurance and patient aging.
  • Help office transition from patient charts to new EMR system.
  • Scan in all documents to EMR routing reports and labs to ordering physicians.
  • Show more

Finance clerk example responsibilities.

  • Manage resident's private information for insurance verification, billing, and eligibility to apply for Medicaid.
  • Collaborate with insurance company representatives, case managers and physicians to obtain treatment authorization for potential kidney and kidney/pancreas transplant patients.
  • Write checks in the QuickBooks software to vendors and to reimburse employees.
  • Establish customer files in QuickBooks, write and test work instructions for clients, log and close complete files.
  • Produce PowerPoint presentations in order to brief the command team of the on goings within the company.
  • Used an automate information system (PeopleSoft) to edit, modify, and verify customers personal and payment information.
  • Show more

Billing associate vs finance clerk skills

Common billing associate skills
  • Patients, 15%
  • Customer Service, 12%
  • Data Entry, 11%
  • Medical Billing, 5%
  • Insurance Billing, 3%
  • Billing Inquiries, 3%
Common finance clerk skills
  • Data Entry, 16%
  • Purchase Orders, 9%
  • HR, 5%
  • Bank Statements, 5%
  • Bank Deposits, 5%
  • Credit Card, 4%

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