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Collection team lead vs collections specialist

The differences between collection team leads and collections specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collection team lead and a collections specialist. Additionally, a collection team lead has an average salary of $68,868, which is higher than the $35,164 average annual salary of a collections specialist.

The top three skills for a collection team lead include customer service, credit card and delinquent accounts. The most important skills for a collections specialist are customer service, patients, and customer accounts.

Collection team lead vs collections specialist overview

Collection Team LeadCollections Specialist
Yearly salary$68,868$35,164
Hourly rate$33.11$16.91
Growth rate-8%-8%
Number of jobs29,38640,277
Job satisfaction--
Most common degreeBachelor's Degree, 45%Bachelor's Degree, 34%
Average age4646
Years of experience1212

Collection team lead vs collections specialist salary

Collection team leads and collections specialists have different pay scales, as shown below.

Collection Team LeadCollections Specialist
Average salary$68,868$35,164
Salary rangeBetween $48,000 And $98,000Between $27,000 And $45,000
Highest paying City-Boston, MA
Highest paying state-Connecticut
Best paying company-Kent Daniels & Associates
Best paying industry-Finance

Differences between collection team lead and collections specialist education

There are a few differences between a collection team lead and a collections specialist in terms of educational background:

Collection Team LeadCollections Specialist
Most common degreeBachelor's Degree, 45%Bachelor's Degree, 34%
Most common majorBusinessBusiness
Most common college--

Collection team lead vs collections specialist demographics

Here are the differences between collection team leads' and collections specialists' demographics:

Collection Team LeadCollections Specialist
Average age4646
Gender ratioMale, 42.9% Female, 57.1%Male, 30.5% Female, 69.5%
Race ratioBlack or African American, 13.0% Unknown, 4.0% Hispanic or Latino, 18.9% Asian, 3.6% White, 59.9% American Indian and Alaska Native, 0.5%Black or African American, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between collection team lead and collections specialist duties and responsibilities

Collection team lead example responsibilities.

  • Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
  • Receive and distribute ACH forms receive form all lots.
  • Assist consumers in money and behavior managements and ensures HIPAA compliance
  • Collect monies from Medicaid, Medicare, VA and various other third party payers.
  • Perform insurance follow up on account receivables of Medicare, Medicaid and private health insurance claims to expedite claim reimbursement.
  • Negotiate payments resolutions for delinquent customers to become current while using professionalism, and adhering to all applicable FDCPA collection laws.
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Collections specialist example responsibilities.

  • Manage university A/R processes and enforce tuition payment policy.
  • Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
  • Review denied Medicare and Maine Medicaid insurance claims for accuracy.
  • Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.
  • Analyze accounts for patients ineligible for private insurance, Medicare or Medicaid and indicating inability to pay balance.
  • Possess effective persuasion and negotiation skills, excellent interpersonal and communications skills with the ability to deliver quality customer service.
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Collection team lead vs collections specialist skills

Common collection team lead skills
  • Customer Service, 14%
  • Credit Card, 7%
  • Delinquent Accounts, 6%
  • Payment Arrangements, 6%
  • FDCPA, 4%
  • Debt Repayment, 4%
Common collections specialist skills
  • Customer Service, 23%
  • Patients, 8%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
  • Delinquent Accounts, 4%
  • Phone Calls, 4%

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