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The differences between insurance collectors and account specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an insurance collector and an account specialist. Additionally, an account specialist has an average salary of $42,586, which is higher than the $39,463 average annual salary of an insurance collector.
The top three skills for an insurance collector include patients, medical billing and healthcare. The most important skills for an account specialist are customer service, patients, and account management.
| Insurance Collector | Account Specialist | |
| Yearly salary | $39,463 | $42,586 |
| Hourly rate | $18.97 | $20.47 |
| Growth rate | -8% | -8% |
| Number of jobs | 46,897 | 116,010 |
| Job satisfaction | - | - |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 54% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
An insurance collector is responsible for collecting and managing insurance payments. They need to generate funds through collecting bills, adhere to ethical standards, handle patients' claims, and complete other clerical work. They usually prepare and submit a member's bill for insurance so that the patient can be sure that there will be no delay in getting their claim.
An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.
Insurance collectors and account specialists have different pay scales, as shown below.
| Insurance Collector | Account Specialist | |
| Average salary | $39,463 | $42,586 |
| Salary range | Between $33,000 And $46,000 | Between $28,000 And $62,000 |
| Highest paying City | - | Washington, DC |
| Highest paying state | - | Virginia |
| Best paying company | - | Microsoft |
| Best paying industry | - | Finance |
There are a few differences between an insurance collector and an account specialist in terms of educational background:
| Insurance Collector | Account Specialist | |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between insurance collectors' and account specialists' demographics:
| Insurance Collector | Account Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 12.4% Female, 87.6% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 13.4% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.4% American Indian and Alaska Native, 0.5% | Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |