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Insurance collector vs medical collector

The differences between insurance collectors and medical 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 medical collector. Additionally, an insurance collector has an average salary of $39,463, which is higher than the $36,235 average annual salary of a medical collector.

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

Insurance collector vs medical collector overview

Insurance CollectorMedical Collector
Yearly salary$39,463$36,235
Hourly rate$18.97$17.42
Growth rate-8%-8%
Number of jobs46,89773,797
Job satisfaction--
Most common degreeAssociate Degree, 29%Bachelor's Degree, 24%
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 medical collector do?

A medical collector deals with collection of bills related to medical services. They handle healthcare-related debt, collect patient insurance information, and develop repayment plans to accommodate debtors that are unable to settle their accounts. Qualifications for this position include knowledge of accounting and training in insurance, business or finance.

Insurance collector vs medical collector salary

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

Insurance CollectorMedical Collector
Average salary$39,463$36,235
Salary rangeBetween $33,000 And $46,000Between $30,000 And $42,000
Highest paying City-Arlington Heights, IL
Highest paying state-Illinois
Best paying company-Addison Group
Best paying industry-Finance

Differences between insurance collector and medical collector education

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

Insurance CollectorMedical Collector
Most common degreeAssociate Degree, 29%Bachelor's Degree, 24%
Most common majorBusinessBusiness
Most common college--

Insurance collector vs medical collector demographics

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

Insurance CollectorMedical Collector
Average age4646
Gender ratioMale, 12.4% Female, 87.6%Male, 18.0% Female, 82.0%
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, 13.6% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.1% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between insurance collector and medical 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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Medical collector example responsibilities.

  • Use EMR software to manage patient records and files; reinforce and uphold patient confidentiality as required by HIPAA and clinic.
  • Perform as a mediator between insurance companies and patients collecting nationwide extensive medical bills.
  • Utilize A/R reports and identify accounts that are past payments.
  • Maintain a filing system of clients' medical records and disclosure following HIPPA guidelines.
  • Post appropriate adjustment types and carrier payments to accounts for true A/R account balance reflection.
  • Maintain strict confidentiality; adhering to all HIPAA guidelines/regulations.
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Insurance collector vs medical collector skills

Common insurance collector skills
  • Patients, 20%
  • Medical Billing, 8%
  • Healthcare, 7%
  • Medicaid, 5%
  • Appeals, 5%
  • Insurance Accounts, 4%
Common medical collector skills
  • Patients, 22%
  • Healthcare, 9%
  • Customer Service, 7%
  • Medical Collections, 5%
  • Appeals, 5%
  • Medicaid, 4%

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