Insurance collectors generally work for healthcare facilities and mediate between insurance companies and medical patients. They file insurance claims and follow through with the procedures until payment.
Working in this position, you will be responsible for appealing denied claims, fixing billing errors, and keeping records of insurance documents and filed claims. You will report to the collection manager and escalate tough or recurring issues to them.
A high school diploma is usually enough to get hired for this position, with training to complete on the job, which generally lasts a few months. You will need a thorough understanding of laws regulating insurance procedures. Great negotiating skills will also be necessary, as much will depend on your communication skills when it comes to hammering out fair deals for the patients you assist.
There is more than meets the eye when it comes to being an insurance collector. For example, did you know that they make an average of $16.81 an hour? That's $34,959 a year!
Between 2018 and 2028, the career is expected to grow -8% and produce -19,400 job opportunities across the U.S.
There are certain skills that many insurance collectors have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed listening skills, negotiating skills and speaking skills.
When it comes to the most important skills required to be an insurance collector, we found that a lot of resumes listed 25.6% of insurance collectors included insurance companies, while 17.0% of resumes included medical records, and 5.6% of resumes included healthcare. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the insurance collector job title. But what industry to start with? Most insurance collectors actually find jobs in the health care and finance industries.
If you're interested in becoming an insurance collector, one of the first things to consider is how much education you need. We've determined that 22.4% of insurance collectors have a bachelor's degree. In terms of higher education levels, we found that 2.0% of insurance collectors have master's degrees. Even though some insurance collectors have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an insurance collector. When we researched the most common majors for an insurance collector, we found that they most commonly earn associate degree degrees or bachelor's degree degrees. Other degrees that we often see on insurance collector resumes include high school diploma degrees or diploma degrees.
You may find that experience in other jobs will help you become an insurance collector. In fact, many insurance collector jobs require experience in a role such as customer service representative. Meanwhile, many insurance collectors also have previous career experience in roles such as cashier or account representative.