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Collections associate vs medical collector

The differences between collections associates and medical collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collections associate and a medical collector. Additionally, a collections associate has an average salary of $38,589, which is higher than the $36,235 average annual salary of a medical collector.

The top three skills for a collections associate include phone calls, customer service and UPC. The most important skills for a medical collector are patients, healthcare, and customer service.

Collections associate vs medical collector overview

Collections AssociateMedical Collector
Yearly salary$38,589$36,235
Hourly rate$18.55$17.42
Growth rate-8%-8%
Number of jobs20,29773,797
Job satisfaction--
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 24%
Average age4646
Years of experience1212

What does a collections associate do?

A collections associate is an individual who acts as a liaison between creditors and customers to collect outstanding payments and negotiates debt payments. Collections associates must contact debtors through telephone to negotiate debt recovery and prevent recurring delinquency. They must enact debt recovery plans and collaborate with other departments on debt collection strategies. They are required to research publicly-available resources such as loan documents and background checks to track down defaulters. They must also initiate legal proceedings when debt recovery fails and send statements of delinquency to the credit bureau.

What does a medical collector do?

A medical collector deals with collection of bills related to medical services. They handle healthcare-related debt, collect patient insurance information, and develop repayment plans to accommodate debtors that are unable to settle their accounts. Qualifications for this position include knowledge of accounting and training in insurance, business or finance.

Collections associate vs medical collector salary

Collections associates and medical collectors have different pay scales, as shown below.

Collections AssociateMedical Collector
Average salary$38,589$36,235
Salary rangeBetween $23,000 And $63,000Between $30,000 And $42,000
Highest paying CityDanbury, CTArlington Heights, IL
Highest paying stateAlaskaIllinois
Best paying companyJPMorgan Chase & Co.Addison Group
Best paying industryFinanceFinance

Differences between collections associate and medical collector education

There are a few differences between a collections associate and a medical collector in terms of educational background:

Collections AssociateMedical Collector
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 24%
Most common majorBusinessBusiness
Most common college--

Collections associate vs medical collector demographics

Here are the differences between collections associates' and medical collectors' demographics:

Collections AssociateMedical Collector
Average age4646
Gender ratioMale, 34.4% Female, 65.6%Male, 18.0% Female, 82.0%
Race ratioBlack or African American, 12.3% Unknown, 4.2% Hispanic or Latino, 17.5% Asian, 3.8% White, 61.7% American Indian and Alaska Native, 0.5%Black or African American, 13.6% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.1% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between collections associate and medical collector duties and responsibilities

Collections associate example responsibilities.

  • Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
  • Perform follow up on Medicaid accounts.
  • Execute assertive collection skills for inbound/outbound calls while meeting FDCPA guidelines.
  • Call center collections following FDCPA guidelines for third party outbound collections.
  • Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
  • Position requires knowledge of Medicaid/Medicare formulary of cover drugs, the dosage and restrictions.
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Medical collector example responsibilities.

  • Use EMR software to manage patient records and files; reinforce and uphold patient confidentiality as required by HIPAA and clinic.
  • Perform as a mediator between insurance companies and patients collecting nationwide extensive medical bills.
  • Utilize A/R reports and identify accounts that are past payments.
  • Maintain a filing system of clients' medical records and disclosure following HIPPA guidelines.
  • Post appropriate adjustment types and carrier payments to accounts for true A/R account balance reflection.
  • Maintain strict confidentiality; adhering to all HIPAA guidelines/regulations.
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Collections associate vs medical collector skills

Common collections associate skills
  • Phone Calls, 16%
  • Customer Service, 14%
  • UPC, 10%
  • Time Card, 7%
  • Retail Store, 7%
  • Patients, 4%
Common medical collector skills
  • Patients, 22%
  • Healthcare, 9%
  • Customer Service, 7%
  • Medical Collections, 5%
  • Appeals, 5%
  • Medicaid, 4%

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