1. University of Pennsylvania
Philadelphia, PA • Private
In-State Tuition
$55,584
Enrollment
10,764
A Billing Specialist manages the billing processes of a corporation or institution; processing payments, generating and delivering invoices, documenting and keeping track of payment information. It is the responsibility of billing specialists to collect payments, balance the books, and secure the revenue of the company.
They oversee the status of accounts and check the validity of resources, taking note of inconsistencies and resolving them. They manage the payments' database and inform clients about their debts. They provide reports on billing activities as well, making sure the cash flow of the institution is transparent.
You will need strong accounting and bookkeeping skills to hold your ground at this position, and of course, problem-solving and critical thinking should be your bread and butter. Accounting is considered an obscure realm by most so patience, empathy, and great customer service skills are a must as well.
There are certain skills that many billing specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed communication skills, math skills and organizational skills.
If you're interested in becoming a billing specialist, one of the first things to consider is how much education you need. We've determined that 30.7% of billing specialists have a bachelor's degree. In terms of higher education levels, we found that 3.0% of billing specialists have master's degrees. Even though some billing specialists have a college degree, it's possible to become one with only a high school degree or GED.
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of accounts receivable specialist you might progress to a role such as staff accountant eventually. Later on in your career, you could end up with the title assistant controller.
What Am I Worth?
The role of a billing specialist includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general billing specialist responsibilities:
There are several types of billing specialist, including:
Billing representatives work in various industries, apart from the seemingly obvious banking, insurance, and finance fields. They are employed in other areas as well, such as retail, manufacturing, or healthcare, and are responsible for keeping an eye on credit-based transactions.
Billing representatives hold onto payment records, follow up on installment plans, and watch out for due dates. They remind customers about overdue payments and resolve their doubts and issues related to payments and transactions. They are the ones who communicate with debtors and charge fees upon missing or late payments, and they submit forms to the authorities. They know their way around contracts and regulations and make sure payment terms and practices are in accordance with these.
Although it might sound fairly complicated at first glance, a billing representative position is an entry-level one and is considered a stepping stone toward working in accounting or other higher-level finance positions. An aptitude for data management and math will, of course, go a long way.
The billing and Insurance Coordinator categorizes mail for distribution to appropriate personnel. You are to perform administrative and clerical roles when necessary, such as managing invoices and responding to employees' inquiries. Primarily, you are to synchronize with the employees from the different departments for billing and insurance purposes. Whenever new insurance is indicated, you are to enter and verify new insurance information by putting in ICD-9 codes.
You are also in charge of supervising and instructing support staff in accurate ICD-9 or CPT for the oncology department. Confidentiality is the core value of a billing and insurance coordinator; therefore, you are to maintain patient confidentiality and abide by HIPAA regulations. Furthermore, you are to adhere to and understand all HIPAA rules and regulations considering patient confidentiality and record-keeping. You are to send out a weekly report to the facility administrator for check and balance.
The ability to perform basic addition and subtraction, excellent communication skills, good organizational skills, and attention to detail are skills of a billing and insurance coordinator. An average of $36,000 is what a billing and insurance coordinator earns annually. The educational criteria for this position is a bachelor's degree in Business, Insurance, or other related fields.
Have you ever received a faulty or wrong utility or grocery bill? And guess whose mistake could it be? It's the billing analyst. But don't worry, they will solve the bill issues and provide you with the right bill. Billing analysts play a vital role and perform various important functions in the accounting department.
Billing analysts monitor the company's profit intake, issue accurate invoices for clients, and correspond with customers. They have to check the balance sheets' efficiency and update new account statements on the database. Along with managing billing discrepancies, they are also involved in creating financial reports and statements.
Bachelor's or associate's degree in business or accounting is the educational requirement for this job. However, a master's degree holder has an advantage over other applicants. On successfully getting this job, you are rewarded with a salary of $25 per hour. They may get hired by several government industries, local companies, or retail offices.
Mouse over a state to see the number of active billing specialist jobs in each state. The darker areas on the map show where billing specialists earn the highest salaries across all 50 states.
Philadelphia, PA • Private
In-State Tuition
$55,584
Enrollment
10,764
Evanston, IL • Private
In-State Tuition
$54,568
Enrollment
8,451
Los Angeles, CA • Private
In-State Tuition
$56,225
Enrollment
19,548
Stanford, CA • Private
In-State Tuition
$51,354
Enrollment
7,083
Stony Brook, NY • Private
In-State Tuition
$9,625
Enrollment
17,407
Boston, MA • Private
In-State Tuition
$53,948
Enrollment
17,238
New York, NY • Private
In-State Tuition
$51,828
Enrollment
26,339
Albany, NY • Private
In-State Tuition
$15,140
Enrollment
876
Minneapolis, MN • Private
In-State Tuition
$14,760
Enrollment
31,451
Washington, DC • Private
In-State Tuition
$26,756
Enrollment
6,166
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 16.3% of billing specialists listed patients on their resume, but soft skills such as communication skills and math skills are important as well.
Zippia allows you to choose from different easy-to-use Billing Specialist templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Billing Specialist resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
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Some places are better than others when it comes to starting a career as a billing specialist. The best states for people in this position are Delaware, Massachusetts, Alaska, and Connecticut. Billing specialists make the most in Delaware with an average salary of $45,798. Whereas in Massachusetts and Alaska, they would average $43,223 and $42,701, respectively. While billing specialists would only make an average of $41,709 in Connecticut, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Delaware
$45,798
Avg. Salary
2. Vermont
$40,969
Avg. Salary
3. Alaska
$42,701
Avg. Salary
We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ billing specialists and discovered their number of billing specialist opportunities and average salary. Through our research, we concluded that Robert Half was the best, especially with an average salary of $36,746. Laboratory Corporation of America Holdings follows up with an average salary of $36,701, and then comes AT&T; with an average of $41,069. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a billing specialist. The employers include McGuireWoods, Laboratory Corporation of America Holdings, and Varian Medical Systems
To become a good billing specialist, a person needs to develop attention to detail, communication, and organizational skills. All of these skills are needed to be a good billing specialist.
To become a medical billing specialist from home, a person needs to first gain the needed experience and knowledge for medical billing. Once they have this knowledge and experience, they can either apply for remote medical billing specialist positions or start their own business as an independent contractor.
It takes about 40 to 80 hours of coursework to become a medical billing specialist. Most medical billing programs include about 40 to 80 hours of coursework, and people typically finish that within about three to six weeks.
A person who manages the billing for a company makes around $45,000 in a year. The salaries range from a low of $30,000 to a high of $55,000 in a year, but the average hourly wage is typically around $15 to $20 an hour.
Most billing specialist positions do not have a degree requirement but instead require a medical billing program. This includes about 40 to 80 hours of coursework, which people typically finish in about three to six weeks.
A certified billing specialist is an administrator who manages billing processes, most often for an insurance office or medical facility. A billing specialist's duties include managing medical billing for patients, updating patient information, generating invoices, and processing payments.