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Finance coordinator vs medication coordinator

The differences between finance coordinators and medication 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 a medication coordinator takes usually requires 1-2 years. Additionally, a finance coordinator has an average salary of $49,358, which is higher than the $41,887 average annual salary of a medication coordinator.

The top three skills for a finance coordinator include patients, customer service and payroll. The most important skills for a medication coordinator are patients, triage, and HIPAA.

Finance coordinator vs medication coordinator overview

Finance CoordinatorMedication Coordinator
Yearly salary$49,358$41,887
Hourly rate$23.73$20.14
Growth rate-5%-8%
Number of jobs106,18767,303
Job satisfaction5-
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 41%
Average age5149
Years of experience62

What does a finance coordinator do?

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.

What does a medication coordinator do?

A medication care coordinator communicates on the job with basic knowledge of medical terminology and human anatomy to ensure that patient medication plans are correct. Medication care coordinators establish relationships with healthcare clinic partners. They serve as liaisons between pharmacies and patients. Their skills to acquire include knowledge and experience in patient care, customer service, medical standards, and treatment plans. They should also develop strong communication skills, attention to detail, and patient relations.

Finance coordinator vs medication coordinator salary

Finance coordinators and medication coordinators have different pay scales, as shown below.

Finance CoordinatorMedication Coordinator
Average salary$49,358$41,887
Salary rangeBetween $34,000 And $71,000Between $28,000 And $62,000
Highest paying CityWashington, DCSan Francisco, CA
Highest paying stateMarylandCalifornia
Best paying companyMcKinsey & Company IncCatholic Health Care System
Best paying industryProfessionalPharmaceutical

Differences between finance coordinator and medication coordinator education

There are a few differences between a finance coordinator and a medication coordinator in terms of educational background:

Finance CoordinatorMedication Coordinator
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 41%
Most common majorBusinessBusiness
Most common collegeUniversity of Pennsylvania-

Finance coordinator vs medication coordinator demographics

Here are the differences between finance coordinators' and medication coordinators' demographics:

Finance CoordinatorMedication Coordinator
Average age5149
Gender ratioMale, 22.1% Female, 77.9%Male, 19.5% Female, 80.5%
Race ratioBlack 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, 9.6% Unknown, 3.8% Hispanic or Latino, 12.0% Asian, 3.8% White, 70.6% American Indian and Alaska Native, 0.4%
LGBT Percentage7%9%

Differences between finance coordinator and medication coordinator duties and responsibilities

Finance coordinator example responsibilities.

  • Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
  • Construct posts featuring highlights of past events on Facebook.
  • Enter EOB payments and denials and perform follow up with insurance company on denials.
  • Create promotional flyers for annual concerts and fundraisers which are posted through via Facebook and local areas.
  • Review and process EOB's daily, entering comments into the bill comment log as to status of follow up.
  • Produce basic PowerPoint presentation materials, including graphical renderings for illustration.
  • Show more

Medication coordinator example responsibilities.

  • Manage patient's accounts collecting and billing financial statements, budgets and expertise with CPT and ICD-9 coding.
  • Manage inpatient transfers to rehabilitation and medical facilities, along with preparing and monitoring outpatient billings insurance verification and referrals.
  • Complete records after patients complete all medical appointments, typing intake forms and additional entries/forms, and obtain physician signatures.
  • Navigate effectively through an electronic medical records (EMR) system.
  • Develop plan for confidentiality of client and agency information through HIPAA guidelines.
  • Perform Medicare and Medicaid audits on members using company medical policy and establish criteria for H.C.F.A.
  • Show more

Finance coordinator vs medication coordinator skills

Common finance coordinator skills
  • Patients, 21%
  • Customer Service, 11%
  • Payroll, 5%
  • Reconciliations, 4%
  • Data Entry, 3%
  • Insurance Benefits, 3%
Common medication coordinator skills
  • Patients, 13%
  • Triage, 6%
  • HIPAA, 6%
  • Customer Service, 6%
  • Test Results, 5%
  • Vital Signs, 5%

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