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Billing specialist vs insurance verification specialist

The differences between billing specialists and insurance verification specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a billing specialist has an average salary of $35,624, which is higher than the $33,043 average annual salary of an insurance verification specialist.

The top three skills for a billing specialist include patients, customer service and data entry. The most important skills for an insurance verification specialist are patients, insurance verification, and customer service.

Billing specialist vs insurance verification specialist overview

Billing SpecialistInsurance Verification Specialist
Yearly salary$35,624$33,043
Hourly rate$17.13$15.89
Growth rate-3%6%
Number of jobs55,20571,688
Job satisfaction--
Most common degreeBachelor's Degree, 31%Associate Degree, 27%
Average age4646
Years of experience2-

What does a billing specialist do?

Billing specialists are accounting or finance employees who are responsible for sending out billing invoices to clients. They calculate charges that their clients have incurred. They then write bills, ensure that all details are correct, and send these out to clients. They also manage payment due dates and ensure that clients are duly reminded of such deadlines. Billing specialists also manage client accounts and ensure that they are paying on time. They help identify clients who have outstanding payables and send out collection notices to them. At times, billing specialists also manage the receipt of payments to manage account records better.

What does an insurance verification specialist do?

An insurance verification specialist is responsible for confirming a patient's insurance details and eligibility to receive medical care services. Insurance verification specialists review the insurance documents of the patients, including its coverage and limitations, and escalate concerns to the supervisor for immediate resolution. They process paperwork accordingly upon coordinating with the patients and attending health professionals. An insurance verification specialist must have excellent communication and organizational skills, finishing administrative tasks efficiently under minimal supervision.

Billing specialist vs insurance verification specialist salary

Billing specialists and insurance verification specialists have different pay scales, as shown below.

Billing SpecialistInsurance Verification Specialist
Average salary$35,624$33,043
Salary rangeBetween $27,000 And $45,000Between $28,000 And $37,000
Highest paying CityWashington, DCMadison, WI
Highest paying stateDelawareNew Hampshire
Best paying companyTIBCO SoftwareSt. Luke's Cataract & Laser Institute
Best paying industryManufacturingPharmaceutical

Differences between billing specialist and insurance verification specialist education

There are a few differences between a billing specialist and an insurance verification specialist in terms of educational background:

Billing SpecialistInsurance Verification Specialist
Most common degreeBachelor's Degree, 31%Associate Degree, 27%
Most common majorBusinessHealth Care Administration
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Billing specialist vs insurance verification specialist demographics

Here are the differences between billing specialists' and insurance verification specialists' demographics:

Billing SpecialistInsurance Verification Specialist
Average age4646
Gender ratioMale, 12.7% Female, 87.3%Male, 11.4% Female, 88.6%
Race ratioBlack or African American, 10.9% Unknown, 4.4% Hispanic or Latino, 19.2% Asian, 7.4% White, 57.3% American Indian and Alaska Native, 0.9%Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1%
LGBT Percentage7%7%

Differences between billing specialist and insurance verification specialist duties and responsibilities

Billing specialist example responsibilities.

  • Use of QuickBooks to manage vendors' accounts, set up filing system to maintain files and supporting billing documents.
  • Manage the daily correspondence with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
  • Use independent judgment, manage and impart confidential information appropriately per HIPAA regulations and company requirements.
  • Accept and process healthcare claims and confidential medical records; verify patient eligibility and manage the Medicare and Medicaid billing process.
  • Provide additional information/clarification for insurance claims using knowledge of CPT, ICD-9, and HCPCS codes, as well as modifiers.
  • Assist staff with proper billing for patients, ensure proper coding using ICD-10, ICD-9 and CPT-4 coding.
  • Show more

Insurance verification specialist example responsibilities.

  • Check CPT and ICD-10 codes with LCD and policies from multiple insurance companies to make sure procedures will be paid.
  • Support the patient privacy/confidentiality policies and regulations under HIPAA for patients and their medical records.
  • Confirm correct charges base on HCPCS codes.
  • Assist callers as well with questions about their benefits, terms and conditions of medical plans, appeals and grievances.
  • Provide medical record support in the absence of EMR: assist clinics and hospitals in obtaining medical records in appropriate format.
  • Document outbound communication from providers and veterans.
  • Show more

Billing specialist vs insurance verification specialist skills

Common billing specialist skills
  • Patients, 16%
  • Customer Service, 10%
  • Data Entry, 9%
  • Medical Billing, 7%
  • Medicaid, 6%
  • CPT, 3%
Common insurance verification specialist skills
  • Patients, 25%
  • Insurance Verification, 15%
  • Customer Service, 7%
  • Insurance Eligibility, 5%
  • Data Entry, 4%
  • Medical Terminology, 4%

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