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The differences between finance coordinators and insurance coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a finance coordinator, becoming an insurance coordinator takes usually requires 2-4 years. Additionally, a finance coordinator has an average salary of $49,358, which is higher than the $32,788 average annual salary of an insurance coordinator.
The top three skills for a finance coordinator include patients, customer service and payroll. The most important skills for an insurance coordinator are patients, customer service, and insurance verification.
| Finance Coordinator | Insurance Coordinator | |
| Yearly salary | $49,358 | $32,788 |
| Hourly rate | $23.73 | $15.76 |
| Growth rate | -5% | -3% |
| Number of jobs | 106,187 | 108,509 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 36% |
| Average age | 51 | 44 |
| Years of experience | 6 | 4 |
Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.
An insurance coordinator is responsible for evaluating and validating insurance information to verify claims and process the necessary claims resolutions for parties. Insurance coordinators submit claims statements timely to the insurance officers for review, coordinate with the clients for inquiries and updates, and reach out to medical institutions for accurate filing of payments. An insurance coordinator must have excellent communication and analytical skills to assess reports, resolve claims discrepancies, and escalate high-level complaints to the officers for immediate action.
Finance coordinators and insurance coordinators have different pay scales, as shown below.
| Finance Coordinator | Insurance Coordinator | |
| Average salary | $49,358 | $32,788 |
| Salary range | Between $34,000 And $71,000 | Between $25,000 And $41,000 |
| Highest paying City | Washington, DC | Oakland, CA |
| Highest paying state | Maryland | New Hampshire |
| Best paying company | McKinsey & Company Inc | University of California, Berkeley |
| Best paying industry | Professional | Pharmaceutical |
There are a few differences between a finance coordinator and an insurance coordinator in terms of educational background:
| Finance Coordinator | Insurance Coordinator | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 36% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between finance coordinators' and insurance coordinators' demographics:
| Finance Coordinator | Insurance Coordinator | |
| Average age | 51 | 44 |
| Gender ratio | Male, 22.1% Female, 77.9% | Male, 9.9% Female, 90.1% |
| 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, 13.8% Unknown, 4.3% Hispanic or Latino, 14.4% Asian, 3.9% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 11% |