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The differences between insurance collectors and collections coordinators 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 a collections coordinator. Additionally, an insurance collector has an average salary of $39,463, which is higher than the $37,938 average annual salary of a collections coordinator.
The top three skills for an insurance collector include patients, medical billing and healthcare. The most important skills for a collections coordinator are customer service, patients, and phone calls.
| Insurance Collector | Collections Coordinator | |
| Yearly salary | $39,463 | $37,938 |
| Hourly rate | $18.97 | $18.24 |
| Growth rate | -8% | -8% |
| Number of jobs | 46,897 | 40,113 |
| Job satisfaction | - | - |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 48% |
| 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.
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
Insurance collectors and collections coordinators have different pay scales, as shown below.
| Insurance Collector | Collections Coordinator | |
| Average salary | $39,463 | $37,938 |
| Salary range | Between $33,000 And $46,000 | Between $30,000 And $47,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | Connecticut |
| Best paying company | - | University of California, Berkeley |
| Best paying industry | - | Professional |
There are a few differences between an insurance collector and a collections coordinator in terms of educational background:
| Insurance Collector | Collections Coordinator | |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 48% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between insurance collectors' and collections coordinators' demographics:
| Insurance Collector | Collections Coordinator | |
| Average age | 46 | 46 |
| Gender ratio | Male, 12.4% Female, 87.6% | Male, 26.6% Female, 73.4% |
| 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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.8% Asian, 3.6% White, 59.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |