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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 | Medical Collector | |
| Yearly salary | $39,463 | $36,235 |
| Hourly rate | $18.97 | $17.42 |
| Growth rate | -8% | -8% |
| Number of jobs | 46,897 | 73,797 |
| Job satisfaction | - | - |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 24% |
| 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.
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 collectors and medical collectors have different pay scales, as shown below.
| Insurance Collector | Medical Collector | |
| Average salary | $39,463 | $36,235 |
| Salary range | Between $33,000 And $46,000 | Between $30,000 And $42,000 |
| Highest paying City | - | Arlington Heights, IL |
| Highest paying state | - | Illinois |
| Best paying company | - | Addison Group |
| Best paying industry | - | Finance |
There are a few differences between an insurance collector and a medical collector in terms of educational background:
| Insurance Collector | Medical Collector | |
| Most common degree | Associate Degree, 29% | Bachelor's Degree, 24% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between insurance collectors' and medical collectors' demographics:
| Insurance Collector | Medical Collector | |
| Average age | 46 | 46 |
| Gender ratio | Male, 12.4% Female, 87.6% | Male, 18.0% Female, 82.0% |
| 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, 13.6% Unknown, 3.9% Hispanic or Latino, 22.6% Asian, 3.3% White, 56.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |