Post job

Insurance collector vs account specialist

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 vs account specialist overview

Insurance CollectorAccount Specialist
Yearly salary$39,463$42,586
Hourly rate$18.97$20.47
Growth rate-8%-8%
Number of jobs46,897116,010
Job satisfaction--
Most common degreeAssociate Degree, 29%Bachelor's Degree, 54%
Average age4646
Years of experience1212

What does an insurance collector do?

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.

What does an account specialist do?

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 collector vs account specialist salary

Insurance collectors and account specialists have different pay scales, as shown below.

Insurance CollectorAccount Specialist
Average salary$39,463$42,586
Salary rangeBetween $33,000 And $46,000Between $28,000 And $62,000
Highest paying City-Washington, DC
Highest paying state-Virginia
Best paying company-Microsoft
Best paying industry-Finance

Differences between insurance collector and account specialist education

There are a few differences between an insurance collector and an account specialist in terms of educational background:

Insurance CollectorAccount Specialist
Most common degreeAssociate Degree, 29%Bachelor's Degree, 54%
Most common majorBusinessBusiness
Most common college--

Insurance collector vs account specialist demographics

Here are the differences between insurance collectors' and account specialists' demographics:

Insurance CollectorAccount Specialist
Average age4646
Gender ratioMale, 12.4% Female, 87.6%Male, 32.2% Female, 67.8%
Race ratioBlack 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 Percentage8%8%

Differences between insurance collector and account specialist duties and responsibilities

Insurance collector example responsibilities.

  • Verify accuracy of claims, work EOB's for all insurance company types, identify and solve problems with unpaid claims.
  • Handle workers' comp., HMO, PPO correspondence.
  • Identify incorrect charges base on proper CPT coding and payment methodologies.
  • Utilize ICD9 and CPT code medical directories for billing purposes to get paid on claims.
  • Perform necessary task to have commercial and workers comp EOB's reprocess to receive the correct total reimbursement.
  • Download weekly Florida Medicaid remittance amounts and send to management.
  • Show more

Account specialist example responsibilities.

  • Cultivate productive long-term relationships with all assign accounts, and manage all reporting and presentation needs for RFP's.
  • Manage a portfolio of accounts end to end RFP program execution inclusive of pricing, contracting, process and technology solutions.
  • Manage the daily correspondence from assign practices with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
  • Deliver exceptional customer service to hospital accounts and internal sales representatives in accordance to revenue recognition policies and HIPAA regulations.
  • Experience with CMS 1500 and UB-04 claims using HCPC/CPT codes as well as NDC codes
  • Monitor CMS and real time aux codes.
  • Show more

Insurance collector vs account specialist skills

Common insurance collector skills
  • Patients, 20%
  • Medical Billing, 8%
  • Healthcare, 7%
  • Medicaid, 5%
  • Appeals, 5%
  • Insurance Accounts, 4%
Common account specialist skills
  • Customer Service, 25%
  • Patients, 13%
  • Account Management, 6%
  • PowerPoint, 4%
  • Data Entry, 4%
  • Catheter, 3%

Browse office and administrative jobs