Post job

Hospital insurance representative vs contracts specialist

The differences between hospital insurance representatives and contracts specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a contracts specialist has an average salary of $63,727, which is higher than the $31,416 average annual salary of a hospital insurance representative.

The top three skills for a hospital insurance representative include HMO, medical terminology and EOB. The most important skills for a contracts specialist are veterans, DOD, and contract administration.

Hospital insurance representative vs contracts specialist overview

Hospital Insurance RepresentativeContracts Specialist
Yearly salary$31,416$63,727
Hourly rate$15.10$30.64
Growth rate-4%-6%
Number of jobs39,94827,244
Job satisfaction--
Most common degreeBachelor's Degree, 36%Bachelor's Degree, 62%
Average age4444
Years of experience--

Hospital insurance representative vs contracts specialist salary

Hospital insurance representatives and contracts specialists have different pay scales, as shown below.

Hospital Insurance RepresentativeContracts Specialist
Average salary$31,416$63,727
Salary rangeBetween $24,000 And $40,000Between $40,000 And $99,000
Highest paying City-Washington, DC
Highest paying state-Delaware
Best paying company-Google
Best paying industry-Government

Differences between hospital insurance representative and contracts specialist education

There are a few differences between a hospital insurance representative and a contracts specialist in terms of educational background:

Hospital Insurance RepresentativeContracts Specialist
Most common degreeBachelor's Degree, 36%Bachelor's Degree, 62%
Most common majorHealth Care AdministrationBusiness
Most common collegeDuke UniversityWestern Carolina University

Hospital insurance representative vs contracts specialist demographics

Here are the differences between hospital insurance representatives' and contracts specialists' demographics:

Hospital Insurance RepresentativeContracts Specialist
Average age4444
Gender ratioMale, 15.4% Female, 84.6%Male, 40.2% Female, 59.8%
Race ratioBlack or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%
LGBT Percentage11%11%

Differences between hospital insurance representative and contracts specialist duties and responsibilities

Hospital insurance representative example responsibilities.

  • Cold-Cal to generate leads for individual life and disability insurance and annuities.
  • Verify that each CPT code are paid correctly and according to fee schedule for any overpayment or underpayment ..
  • Provide financial counseling for patients and their families by explaining financial policies and providing available resources for alternative payment.
  • Fill out refund form with copy of all relate EOB's when credit balances are find on account.
  • Serve as a resource/ advocate to all employees regarding claims problem resolution, benefits explanations and EOB issues.
  • Collect patient demographic & insurance information via telephone for outpatient surgery and radiology.

Contracts specialist example responsibilities.

  • Manage multiple task orders in an IDIQ environment.
  • Provide clarity on medical and drug cover benefits for a Medicare advantage insurance plan.
  • Manage inventory and distribution activities of the third-party logistics provider.
  • Develop marketing strategies to expand Medicaid manage care provider network and enrollment.
  • Manage the influenza vaccine annual contracting and RFP process for a national specialty pharmaceutical distributor.
  • Process purchase orders and subcontracts, including managing insurance requirement compliance and certify payroll documentation.
  • Show more

Hospital insurance representative vs contracts specialist skills

Common hospital insurance representative skills
  • HMO, 32%
  • Medical Terminology, 24%
  • EOB, 22%
  • CPT, 22%
Common contracts specialist skills
  • Veterans, 7%
  • DOD, 7%
  • Contract Administration, 6%
  • Contract Terms, 5%
  • Contract Management, 5%
  • Market Research, 5%

Browse business and financial jobs