Finance counselor vs registration representative

The differences between finance counselors and registration representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance counselor and a registration representative. Additionally, a finance counselor has an average salary of $40,561, which is higher than the $34,021 average annual salary of a registration representative.

The top three skills for a finance counselor include patients, customer service and medical terminology. The most important skills for a registration representative are patients, medical terminology, and patient care.

Finance counselor vs registration representative overview

	Finance Counselor	Registration Representative
Yearly salary	$40,561	$34,021
Hourly rate	$19.50	$16.36
Growth rate	15%	-4%
Number of jobs	101,005	118,803
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 35%
Average age	45	40
Years of experience	4	4

What does a finance counselor do?

A finance counselor specializes in providing billing advice to patients in a hospital or similar setting. They are primarily responsible for giving cost-estimates and offering financial assistance in payment plans and other options such as insurance. Moreover, they must gather patient information and requirements, verifying them for authenticity. They must also review financial and medical history to ensure that the patient can uphold financial obligations. Furthermore, it is essential to build rapport with clients to improve relationships.

What does a registration representative do?

In medical facilities, a registration representative serves as the patients' first point of contact in clinics and hospitals. They primarily greet patients, identify their needs, gather personal and medical information, and assist them in filling out forms. They must also handle admission and discharge procedures, process payments, arrange payment plans, and collect insurance information. Furthermore, as a registered representative, it is essential to maintain an active communication line with staff for a smooth and efficient workflow.

Finance counselor vs registration representative salary

Finance counselors and registration representatives have different pay scales, as shown below.

	Finance Counselor	Registration Representative
Average salary	$40,561	$34,021
Salary range	Between $32,000 And $50,000	Between $26,000 And $42,000
Highest paying City	Glen Cove, NY	Boston, MA
Highest paying state	New York	Massachusetts
Best paying company	Morgan Stanley	UMass Memorial Health
Best paying industry	Health Care	Health Care

Differences between finance counselor and registration representative education

There are a few differences between a finance counselor and a registration representative in terms of educational background:

	Finance Counselor	Registration Representative
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Finance counselor vs registration representative demographics

Here are the differences between finance counselors' and registration representatives' demographics:

	Finance Counselor	Registration Representative
Average age	45	40
Gender ratio	Male, 21.0% Female, 79.0%	Male, 13.9% Female, 86.1%
Race ratio	Black or African American, 6.1% Unknown, 4.4% Hispanic or Latino, 10.1% Asian, 5.8% White, 73.4% American Indian and Alaska Native, 0.1%	Black or African American, 11.6% Unknown, 4.9% Hispanic or Latino, 21.3% Asian, 6.4% White, 55.2% American Indian and Alaska Native, 0.6%
LGBT Percentage	5%	7%

Differences between finance counselor and registration representative duties and responsibilities

Finance counselor example responsibilities.

Lead cleanup of company database and files with pending patient and insurance payments through Meditech software program.
Work one on one with the nurses to insure all patients are registered and treat with dignity and compassion.
Develop ad implement in-house software financial aid college work-study program.
Collect student paperwork to verify FAFSA applications to award accurate financial aid.
Provide excellent customer service reflecting respect and compassion towards every patient and visitor.
Interview and train college work-study personnel, and counsele students/parents for eligibility for financial aid.

Registration representative example responsibilities.

Work with third party payer requirements including Medicare, Medicaid (AHCCCS), manage care plans, and commercial plans.
Manage and update demographic and insurance information, including authorizations and referrals, while demonstrating HIPPA confidentiality regulations.
Verify eligibility and insurance benefits for patients, including Medicare, Medicaid, private insurance and workers' compensation.
Maintain patient privacy in accordance with HIPAA with a high level of professionalism, compassion, productivity, and accuracy.
Maintain proficient level of knowledge regarding Medicare requirements, HIPAA compliance and reimbursement criteria.
Complete registration process for inpatients, outpatients, and emergency patients accurately and efficiently in accordance with policies and procedures.

Finance counselor vs registration representative skills

Common finance counselor skills

Patients, 28%
Customer Service, 11%
Medical Terminology, 6%
Insurance Benefits, 5%
Insurance Coverage, 4%
Payment Arrangements, 4%

Common registration representative skills

Patients, 25%
Medical Terminology, 10%
Patient Care, 6%
Customer Service, 6%
Health Insurance, 5%
Patient Registration, 4%

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Finance Counselor
Finance Counselor vs Registration Representative

Updated January 8, 2025

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