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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 | Medical Collector | |
| Yearly salary | $35,164 | $36,235 |
| Hourly rate | $16.91 | $17.42 |
| Growth rate | -8% | -8% |
| Number of jobs | 40,277 | 73,797 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 24% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
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.
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 specialists and medical collectors have different pay scales, as shown below.
| Collections Specialist | Medical Collector | |
| Average salary | $35,164 | $36,235 |
| Salary range | Between $27,000 And $45,000 | Between $30,000 And $42,000 |
| Highest paying City | Boston, MA | Arlington Heights, IL |
| Highest paying state | Connecticut | Illinois |
| Best paying company | Kent Daniels & Associates | Addison Group |
| Best paying industry | Finance | Finance |
There are a few differences between a collections specialist and a medical collector in terms of educational background:
| Collections Specialist | Medical Collector | |
| Most common degree | Bachelor's Degree, 34% | Bachelor's Degree, 24% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between collections specialists' and medical collectors' demographics:
| Collections Specialist | Medical Collector | |
| Average age | 46 | 46 |
| Gender ratio | Male, 30.5% Female, 69.5% | Male, 18.0% Female, 82.0% |
| 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, 13.6% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |