Encoding clerk vs payment processor

The differences between encoding clerks and payment processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an encoding clerk and a payment processor. Additionally, a payment processor has an average salary of $34,030, which is higher than the $32,703 average annual salary of an encoding clerk.

The top three skills for an encoding clerk include encode, bank deposits and telephone calls. The most important skills for a payment processor are customer service, patients, and data entry.

Encoding clerk vs payment processor overview

	Encoding Clerk	Payment Processor
Yearly salary	$32,703	$34,030
Hourly rate	$15.72	$16.36
Growth rate	-5%	-5%
Number of jobs	66,402	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 38%	Bachelor's Degree, 35%
Average age	51	51
Years of experience	6	6

Encoding clerk vs payment processor salary

Encoding clerks and payment processors have different pay scales, as shown below.

	Encoding Clerk	Payment Processor
Average salary	$32,703	$34,030
Salary range	Between $26,000 And $40,000	Between $27,000 And $42,000
Highest paying City	-	San Jose, CA
Highest paying state	-	Alaska
Best paying company	-	University of California, Berkeley
Best paying industry	-	Insurance

Differences between encoding clerk and payment processor education

There are a few differences between an encoding clerk and a payment processor in terms of educational background:

	Encoding Clerk	Payment Processor
Most common degree	Bachelor's Degree, 38%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Encoding clerk vs payment processor demographics

Here are the differences between encoding clerks' and payment processors' demographics:

	Encoding Clerk	Payment Processor
Average age	51	51
Gender ratio	Male, 20.0% Female, 80.0%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between encoding clerk and payment processor duties and responsibilities

Encoding clerk example responsibilities.

Demonstrate strong math skills in managing inmate s accounts and calmly and effectively deescalating outbursts of belligerent inmates.
Encode checks and prepare closing paper work for cashiers.
Operate proof machine to encode dollar amount and other require fields on documents.
Encode life insurance applications into mainframe computer system.
Maintain cleanliness of the company warehouse, operate warehouse machinery and organize the warehouse to ensure proper product placement.
Establish financial institutes as levy sources on IDRS system.

Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

Encoding clerk vs payment processor skills

Common encoding clerk skills

Encode, 40%
Bank Deposits, 38%
Telephone Calls, 22%

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%