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The differences between cash application specialists and billing and insurance coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a cash application specialist, becoming a billing and insurance coordinator takes usually requires 1-2 years. Additionally, a billing and insurance coordinator has an average salary of $41,141, which is higher than the $37,558 average annual salary of a cash application specialist.
The top three skills for a cash application specialist include customer service, cash application and patients. The most important skills for a billing and insurance coordinator are patients, customer service, and data entry.
| Cash Application Specialist | Billing And Insurance Coordinator | |
| Yearly salary | $37,558 | $41,141 |
| Hourly rate | $18.06 | $19.78 |
| Growth rate | -5% | -3% |
| Number of jobs | 63,925 | 67,385 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 41% |
| Average age | 51 | 46 |
| Years of experience | 6 | 2 |
Cash Application Specialists handle a variety of tasks related to company finances. They manage the organization of the company's financial records and oversee the overall cash inflow. They may also be assigned to handle payment collection, preparation of invoices, and receipts' issuance. They manage their relationship with their counterparts in client organizations to ensure a harmonious work relationship. This will help them follow up payments, communicate better, and resolve any concerns. Cash application specialists are also in charge of updating client records and ensuring that clients' payments are accurate. They also process refunds and facilitate other financial transactions.
A billing and insurance coordinator is responsible for coordinating with employees from different departments of an organization for billing and insurance processing purposes. Billing and insurance coordinators sort mail for distribution to appropriate personnel, performing administrative and clerical duties as needed, managing and releasing of invoices under the manager's supervision, and responding to employees' inquiries and concerns. A billing and insurance coordinator must be highly analytical, as well as have excellent knowledge of the insurance disciplines and processes to assist the employees with their payments and benefits.
Cash application specialists and billing and insurance coordinators have different pay scales, as shown below.
| Cash Application Specialist | Billing And Insurance Coordinator | |
| Average salary | $37,558 | $41,141 |
| Salary range | Between $29,000 And $48,000 | Between $27,000 And $60,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Delaware | Maryland |
| Best paying company | Datamatics | Kane Russell Coleman Logan |
| Best paying industry | Transportation | Professional |
There are a few differences between a cash application specialist and a billing and insurance coordinator in terms of educational background:
| Cash Application Specialist | Billing And Insurance Coordinator | |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 41% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cash application specialists' and billing and insurance coordinators' demographics:
| Cash Application Specialist | Billing And Insurance Coordinator | |
| Average age | 51 | 46 |
| Gender ratio | Male, 19.3% Female, 80.7% | Male, 15.4% Female, 84.6% |
| Race ratio | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.5% American Indian and Alaska Native, 0.6% | Black or African American, 10.7% Unknown, 4.3% Hispanic or Latino, 21.6% Asian, 6.8% White, 55.9% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |