What does a collections coordinator do?
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
Collections coordinator responsibilities
Here are examples of responsibilities from real collections coordinator resumes:
- Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
- Manage accounts receivable/payment, insurance billing and follow-up for a solo physician clinic, and direct communication with patients regarding bills.
- Audit outstanding accounts and resolve any balances including calling Medicare, Medicaid, government, private or commercial insurances.
- Perform daily follow-up on Medicare, Medicaid, workers compensation and commercial insurances.
- Hand illustrate fully render with marker and colore pencil sketches and Photoshop render drawings.
- Submit insurance appeals and provider disputes when necessary.
- Submit written appeals for reconsideration of deny or underpay claims.
- Assist with Medicare and Medicaid verification and reviews to Medicaid.
- Provide timely resolution of client billing disputes and account reconciliations.
- Identify patients in determining insurance eligibility and financial obligations prior to or at time of service.
- Plan and conduct HUMINT collection operations in response to specific theater and national-level intelligence collection requirements.
- Prepare various account reconciliations and research to obtain supporting documentation for appropriate action require to reconcile account balance with customers.
- Provide timely follow up on repossessions not re-cover in adequate time frame through various methods of investigation and customer tracking.
- Perform Medicaid and all other insurance billing/ completing private insurance verification forms and verifying accuracy of visits bill to insurance companies.
- Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
Collections coordinator skills and personality traits
We calculated that 15% of Collections Coordinators are proficient in Customer Service, Patients, and Phone Calls. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Collections Coordinators that have these skills listed on their resume here:
- Customer Service, 15%
Worked with customer service and operations departments to resolve pressing payment issues involving confidential customer financial information.
- Patients, 12%
Managed accounts receivable/payment, insurance billing and follow-up for a solo physician clinic, and direct communication with patients regarding bills.
- Phone Calls, 6%
Managed a personal Queue of accounts with responsibilities including: phone calls, letters, payment programs, and skip tracing.
- Collection Efforts, 4%
Researched and analyzed accounts prior to initiating patient contact, examined historical data, evaluated past collection efforts.
- Delinquent Accounts, 4%
Distributed correspondence to various branches for resolution on severely delinquent accounts and prepared monthly status reports for senior management review.
- Appeals, 4%
Assisted Clinical Manager with Peer Review and Utilization Criteria appeals.
Most collections coordinators use their skills in "customer service," "patients," and "phone calls" to do their jobs. You can find more detail on essential collections coordinator responsibilities here:
Listening skills. To carry out their duties, the most important skill for a collections coordinator 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 coordinators often use listening skills in their day-to-day job, as shown by this real resume: "communicated with insurance companies on total loss vehicles and gap insurance claims. "
Negotiating skills. Another essential skill to perform collections coordinator duties is negotiating skills. Collections coordinators 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 coordinators also use negotiating skills in their role according to a real resume snippet: "prevent loss and increase profitability by negotiating payment arrangements with 350 delinquent tenantaccounts monthly. "
Speaking skills. Another skill that relates to the job responsibilities of collections coordinators is speaking skills. This skill is critical to many everyday collections coordinator duties, as "collectors must be able to speak to debtors to explain their options and ensure that they fully understand what is being said." This example from a resume shows how this skill is used: "utilize micro strategy and excel queries to make sure all past due accounts are addressed as directed. "
The three companies that hire the most collections coordinators are:
- Altice USA4 collections coordinators jobs
- Performance Food Group4 collections coordinators jobs
- ManpowerGroup3 collections coordinators jobs
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Compare different collections coordinators
Collections coordinator 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 some key differences in the responsibilities of each position. For example, collections coordinator responsibilities require skills like "phone calls," "customer accounts," "collection process," and "outstanding receivables." Meanwhile a typical accounts receivable specialist has skills in areas such as "financial reports," "general ledger," "cash receipts," and "credit memos." This difference in skills reveals the differences in what each career does.
Accounts receivable specialists earn the highest salaries when working in the technology industry, with an average yearly salary of $43,571. On the other hand, collections coordinators are paid more in the professional industry with an average salary of $39,558.accounts receivable specialists tend to reach similar levels of education than collections coordinators. In fact, accounts receivable specialists are 1.4% less likely to graduate with a Master's Degree and 0.3% less likely to have a Doctoral Degree.Collections coordinator 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.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that collections coordinator responsibilities requires skills like "phone calls," "collection efforts," "appeals," and "collection process." But an account specialist might use other skills in their typical duties, such as, "account management," "powerpoint," "catheter," and "customer satisfaction."
Account specialists earn a higher average salary than collections coordinators. But account specialists earn the highest pay in the finance industry, with an average salary of $47,336. Additionally, collections coordinators earn the highest salaries in the professional with average pay of $39,558 annually.In general, account specialists achieve similar levels of education than collections coordinators. They're 0.5% less likely to obtain a Master's Degree while being 0.3% less likely to earn a Doctoral Degree.Collections coordinator vs. Payment processor
A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from collections coordinator resumes include skills like "collection efforts," "appeals," "account balances," and "collection process," whereas a payment processor is more likely to list skills in "lockbox," "process payments," "securities," and "powerpoint. "
Payment processors earn the highest salary when working in the insurance industry, where they receive an average salary of $38,534. Comparatively, collections coordinators have the highest earning potential in the professional industry, with an average salary of $39,558.Most payment processors achieve a similar degree level compared to collections coordinators. For example, they're 2.2% less likely to graduate with a Master's Degree, and 0.3% less likely to earn a Doctoral Degree.Collections coordinator 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.
Types of collections coordinator
Updated January 8, 2025
