Collections specialist vs collections/accounts receivable

The differences between collections specialists and collections/accounts receivables 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 specialist and a collections/accounts receivable. Additionally, a collections/accounts receivable has an average salary of $38,949, which is higher than the $35,164 average annual salary of a collections specialist.

The top three skills for a collections specialist include customer service, patients and customer accounts. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.

Collections specialist vs collections/accounts receivable overview

	Collections Specialist	Collections/Accounts Receivable
Yearly salary	$35,164	$38,949
Hourly rate	$16.91	$18.73
Growth rate	-8%	-8%
Number of jobs	40,277	30,523
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 34%	Bachelor's Degree, 40%
Average age	46	46
Years of experience	12	12

What does a collections specialist do?

As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.

What does a collections/accounts receivable do?

An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.

Collections specialist vs collections/accounts receivable salary

Collections specialists and collections/accounts receivables have different pay scales, as shown below.

	Collections Specialist	Collections/Accounts Receivable
Average salary	$35,164	$38,949
Salary range	Between $27,000 And $45,000	Between $30,000 And $49,000
Highest paying City	Boston, MA	Boston, MA
Highest paying state	Connecticut	Connecticut
Best paying company	Kent Daniels & Associates	Apollo Global Management
Best paying industry	Finance	Finance

Differences between collections specialist and collections/accounts receivable education

There are a few differences between a collections specialist and a collections/accounts receivable in terms of educational background:

	Collections Specialist	Collections/Accounts Receivable
Most common degree	Bachelor's Degree, 34%	Bachelor's Degree, 40%
Most common major	Business	Business
Most common college	-	-

Collections specialist vs collections/accounts receivable demographics

Here are the differences between collections specialists' and collections/accounts receivables' demographics:

	Collections Specialist	Collections/Accounts Receivable
Average age	46	46
Gender ratio	Male, 30.5% Female, 69.5%	Male, 25.3% Female, 74.7%
Race ratio	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%	Black or African American, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between collections specialist and collections/accounts receivable duties and responsibilities

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.

Collections/accounts receivable example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Work accounts receivable for Medicaid verification and payments.
Work remittance advice from Medicaid ensuring accuracy of payments.
Research and obtain extensive knowledge of FDCPA debt recovery laws and assist in recovering commercial debt from organizations.
Communicate effectively with patients, physicians, hospital staff, and insurance representatives to ensure accuracy in claims processing.
Review claims to determine if process correctly and if necessary, direct patients to contact insurance companies regarding additional benefit questions.

Collections specialist vs collections/accounts receivable skills

Common collections specialist skills

Customer Service, 23%
Patients, 8%
Customer Accounts, 6%
Payment Arrangements, 5%
Delinquent Accounts, 4%
Phone Calls, 4%

Common collections/accounts receivable skills

Customer Service, 21%
Patients, 6%
Delinquent Accounts, 5%
Credit Card Payments, 5%
Past Due Accounts, 5%
Customer Accounts, 5%

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Collections Specialist
Collections Specialist vs Collections/Accounts Receivable

Updated January 8, 2025

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