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Insurance collector vs collector

The differences between insurance collectors and collectors 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 collector. Additionally, an insurance collector has an average salary of $39,463, which is higher than the $34,872 average annual salary of a collector.

The top three skills for an insurance collector include patients, medical billing and healthcare. The most important skills for a collector are patients, customer service, and payment arrangements.

Insurance collector vs collector overview

Insurance CollectorCollector
Yearly salary$39,463$34,872
Hourly rate$18.97$16.77
Growth rate-8%-8%
Number of jobs46,89723,948
Job satisfaction--
Most common degreeAssociate Degree, 29%Bachelor's Degree, 31%
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 a collector do?

Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.

Insurance collector vs collector salary

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

Insurance CollectorCollector
Average salary$39,463$34,872
Salary rangeBetween $33,000 And $46,000Between $27,000 And $44,000
Highest paying City-Los Angeles, CA
Highest paying state-Alaska
Best paying company-Uline
Best paying industry-Finance

Differences between insurance collector and collector education

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

Insurance CollectorCollector
Most common degreeAssociate Degree, 29%Bachelor's Degree, 31%
Most common majorBusinessBusiness
Most common college--

Insurance collector vs collector demographics

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

Insurance CollectorCollector
Average age4646
Gender ratioMale, 12.4% Female, 87.6%Male, 36.0% Female, 64.0%
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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between insurance collector and collector 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.
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Collector example responsibilities.

  • Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
  • Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
  • Provide excellent customer service while following HIPPA confidentiality laws.
  • Show more

Insurance collector vs collector skills

Common insurance collector skills
  • Patients, 20%
  • Medical Billing, 8%
  • Healthcare, 7%
  • Medicaid, 5%
  • Appeals, 5%
  • Insurance Accounts, 4%
Common collector skills
  • Patients, 14%
  • Customer Service, 10%
  • Payment Arrangements, 10%
  • Excellent Interpersonal, 9%
  • Delinquent Accounts, 8%
  • Student Loans, 5%

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