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Collections specialist vs medical collector

The differences between collections specialists 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 specialist and a medical collector. Additionally, a medical collector has an average salary of $36,235, 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 medical collector are patients, healthcare, and customer service.

Collections specialist vs medical collector overview

Collections SpecialistMedical Collector
Yearly salary$35,164$36,235
Hourly rate$16.91$17.42
Growth rate-8%-8%
Number of jobs40,27773,797
Job satisfaction--
Most common degreeBachelor's Degree, 34%Bachelor's Degree, 24%
Average age4646
Years of experience1212

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 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 specialist vs medical collector salary

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

Collections SpecialistMedical Collector
Average salary$35,164$36,235
Salary rangeBetween $27,000 And $45,000Between $30,000 And $42,000
Highest paying CityBoston, MAArlington Heights, IL
Highest paying stateConnecticutIllinois
Best paying companyKent Daniels & AssociatesAddison Group
Best paying industryFinanceFinance

Differences between collections specialist and medical collector education

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

Collections SpecialistMedical Collector
Most common degreeBachelor's Degree, 34%Bachelor's Degree, 24%
Most common majorBusinessBusiness
Most common college--

Collections specialist vs medical collector demographics

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

Collections SpecialistMedical Collector
Average age4646
Gender ratioMale, 30.5% Female, 69.5%Male, 18.0% Female, 82.0%
Race ratioBlack 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, 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 specialist and medical collector 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.
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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 specialist vs medical collector skills

Common collections specialist skills
  • Customer Service, 23%
  • Patients, 8%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
  • Delinquent Accounts, 4%
  • Phone Calls, 4%
Common medical collector skills
  • Patients, 22%
  • Healthcare, 9%
  • Customer Service, 7%
  • Medical Collections, 5%
  • Appeals, 5%
  • Medicaid, 4%

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