What does a collections assistant do?
Collections assistant responsibilities
Here are examples of responsibilities from real collections assistant resumes:
- Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
- Maintain confidential donor records in accordance with HIPAA.
- Adhere to FDCPA guidelines pertaining to all telephone contacts.
- Submit claims to Medicare and Medicaid and third party commercial plans.
- Assist customers in all areas regarding their accounts while complying with FDCPA regulations.
- Promote employee safety and compliance of all government federal regulations including OSHA and HIPAA.
- Assist the administrator in the collection of all (CMS) Medicare letter and Medicaid letter.
- Escalate issues with internal business partners for quick resolution to ensure customer satisfaction to maintain health of portfolio against assign metrics.
- Check daily bank account to recognize ACH payments from customers and post to A/R system.
- Reduce A/R aging from an average of 87 days in less than 7 months.
- Conduct internal auditing for account resolution and A/R accuracy.
- Research all accounts utilizing Accurint, Lexis Nexis and several credit-reporting agencies if need.
Collections assistant skills and personality traits
We calculated that 17% of Collections Assistants are proficient in Patients, Data Collection, and Delinquent Accounts. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Collections Assistants that have these skills listed on their resume here:
- Patients, 17%
Interview patients regarding their legal rights regarding benefits, privileges and responsibilities associated with a disability evaluation and compensation program.
- Data Collection, 13%
Gathered relevant data from business directories and social networking sites to support a large data collection initiative.
- Delinquent Accounts, 5%
Advocated for consumers with delinquent accounts by determining best course given financial situation and advisement of legal status.
- Collection Calls, 5%
Instigated collection calls and developed relationships with vendors to ensure timely payments.
- Collection Agencies, 5%
Assisted with placing and tracking accounts identified for referral to contract private collection agencies and the state Central Collection Service.
- Medicaid, 4%
Experienced with commercial and third party payers such as: Medicaid, Medicare, Workers Compensation.
Common skills that a collections assistant uses to do their job include "patients," "data collection," and "delinquent accounts." You can find details on the most important collections assistant responsibilities below.
Listening skills. To carry out their duties, the most important skill for a collections assistant to have is listening skills. Their role and responsibilities require that "collectors must pay attention to what debtors say when trying to negotiate a repayment plan." Collections assistants often use listening skills in their day-to-day job, as shown by this real resume: "communicated with patients via phone, e-mail, and in person to obtain payments on outstanding accounts requiring deductibles or co-pays. "
Negotiating skills. Another essential skill to perform collections assistant duties is negotiating skills. Collections assistants responsibilities require that "the main aspects of a collector’s job are reconciling the differences between two parties (the debtor and the creditor) and offering a solution that is acceptable to both parties." Collections assistants also use negotiating skills in their role according to a real resume snippet: "assist customers with setting up effective payment arrangements by negotiating and helping with overdraft fees if applicable. "
Speaking skills. This is an important skill for collections assistants to perform their duties. For an example of how collections assistant responsibilities depend on this skill, consider that "collectors must be able to speak to debtors to explain their options and ensure that they fully understand what is being said." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a collections assistant: "addressed ongoing customer complaints concerning billing or service rendered and worked on complaints of service failures with designated staff or departments. ".
The three companies that hire the most collections assistants are:
- Hudson Group
33 collections assistants jobs
- Kelly Services2 collections assistants jobs
- Republic Services2 collections assistants jobs
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Compare different collections assistants
Collections assistant vs. Account representative
Account representatives are employees who manage client accounts and act as the main contact of the clients they are handling. They maintain existing accounts by updating client details regularly. They also check up on clients to see if they are still satisfied with the products or services of the company. They also create new accounts by welcoming new clients and assisting them in their needs. Account representatives manage client inquiries and process client requests. They also address complaints and ensure that any challenges are mitigated and that clients remain with the company.
These skill sets are where the common ground ends though. The responsibilities of a collections assistant are more likely to require skills like "data collection," "health histories," "credit card," and "collection process." On the other hand, a job as an account representative requires skills like "customer service," "patient accounts," "data entry," and "customer satisfaction." As you can see, what employees do in each career varies considerably.
Account representatives tend to make the most money working in the finance industry, where they earn an average salary of $38,433. In contrast, collections assistants make the biggest average salary, $41,176, in the health care industry.The education levels that account representatives earn slightly differ from collections assistants. In particular, account representatives are 2.7% less likely to graduate with a Master's Degree than a collections assistant. Additionally, they're 0.3% less likely to earn a Doctoral Degree.Collections assistant vs. Accounts receivable analyst
An Accounts Receivable Analyst provides accounts receivable support through monitoring all aspects of the collection of outstanding debts owed to a company. They check missing and unresolved payment issues, monitor overdue accounts, and prepare statements for managers.
Each career also uses different skills, according to real collections assistant resumes. While collections assistant responsibilities can utilize skills like "data collection," "collection agencies," "health histories," and "credit card," accounts receivable analysts use skills like "customer service," "reconciliations," "pivot tables," and "financial reports."
On average, accounts receivable analysts earn a higher salary than collections assistants. Some industries support higher salaries in each profession. Interestingly enough, accounts receivable analysts earn the most pay in the hospitality industry with an average salary of $45,068. Whereas collections assistants have higher pay in the health care industry, with an average salary of $41,176.Average education levels between the two professions vary. Accounts receivable analysts tend to reach similar levels of education than collections assistants. In fact, they're 0.8% more likely to graduate with a Master's Degree and 0.3% less likely to earn a Doctoral Degree.Collections assistant vs. Accounts receivable specialist
Accounts receivable specialists are members of the organization's finance or accounting department. They are responsible for managing the collection of payments for the company. They prepare official receipts and coordinate with account payable specialists from other companies with pending payables. They ensure that clients pay on time, and they also follow up on payments when necessary. They are responsible for checking whether the clients have already paid in full. Accounts receivable specialists are in charge of updating accounting records as well to ensure that client records are up to date.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a collections assistant is likely to be skilled in "data collection," "collection agencies," "customer accounts," and "health histories," while a typical accounts receivable specialist is skilled in "customer service," "data entry," "credit card payments," and "reconciliations."
Accounts receivable specialists earn the highest salary when working in the technology industry, where they receive an average salary of $43,571. Comparatively, collections assistants have the highest earning potential in the health care industry, with an average salary of $41,176.Most accounts receivable specialists achieve a similar degree level compared to collections assistants. For example, they're 2.5% less likely to graduate with a Master's Degree, and 0.4% less likely to earn a Doctoral Degree.Collections assistant vs. Account specialist
An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.
Types of collections assistant
Updated January 8, 2025
