Insurance collector vs insurance verification specialist

The differences between insurance collectors and insurance verification specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance collector has an average salary of $39,463, which is higher than the $33,043 average annual salary of an insurance verification specialist.

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

Insurance collector vs insurance verification specialist overview

	Insurance Collector	Insurance Verification Specialist
Yearly salary	$39,463	$33,043
Hourly rate	$18.97	$15.89
Growth rate	-8%	6%
Number of jobs	46,897	71,688
Job satisfaction	-	-
Most common degree	Associate Degree, 29%	Associate Degree, 27%
Average age	46	46
Years of experience	12	-

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 insurance verification specialist do?

An insurance verification specialist is responsible for confirming a patient's insurance details and eligibility to receive medical care services. Insurance verification specialists review the insurance documents of the patients, including its coverage and limitations, and escalate concerns to the supervisor for immediate resolution. They process paperwork accordingly upon coordinating with the patients and attending health professionals. An insurance verification specialist must have excellent communication and organizational skills, finishing administrative tasks efficiently under minimal supervision.

Insurance collector vs insurance verification specialist salary

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

	Insurance Collector	Insurance Verification Specialist
Average salary	$39,463	$33,043
Salary range	Between $33,000 And $46,000	Between $28,000 And $37,000
Highest paying City	-	Madison, WI
Highest paying state	-	New Hampshire
Best paying company	-	St. Luke's Cataract & Laser Institute
Best paying industry	-	Pharmaceutical

Differences between insurance collector and insurance verification specialist education

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

	Insurance Collector	Insurance Verification Specialist
Most common degree	Associate Degree, 29%	Associate Degree, 27%
Most common major	Business	Health Care Administration
Most common college	-	University of Pennsylvania

Insurance collector vs insurance verification specialist demographics

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

	Insurance Collector	Insurance Verification Specialist
Average age	46	46
Gender ratio	Male, 12.4% Female, 87.6%	Male, 11.4% Female, 88.6%
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, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1%
LGBT Percentage	8%	7%

Differences between insurance collector and insurance verification 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.

Insurance verification specialist example responsibilities.

Check CPT and ICD-10 codes with LCD and policies from multiple insurance companies to make sure procedures will be paid.
Support the patient privacy/confidentiality policies and regulations under HIPAA for patients and their medical records.
Confirm correct charges base on HCPCS codes.
Assist callers as well with questions about their benefits, terms and conditions of medical plans, appeals and grievances.
Provide medical record support in the absence of EMR: assist clinics and hospitals in obtaining medical records in appropriate format.
Document outbound communication from providers and veterans.

Insurance collector vs insurance verification specialist skills

Common insurance collector skills

Patients, 20%
Medical Billing, 8%
Healthcare, 7%
Medicaid, 5%
Appeals, 5%
Insurance Accounts, 4%

Common insurance verification specialist skills

Patients, 25%
Insurance Verification, 15%
Customer Service, 7%
Insurance Eligibility, 5%
Data Entry, 4%
Medical Terminology, 4%

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Insurance Collector vs Insurance Verification Specialist

Updated January 8, 2025

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