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The differences between insurance specialists and billing and insurance coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become an insurance specialist, becoming a billing and insurance coordinator takes usually requires 1-2 years. Additionally, a billing and insurance coordinator has an average salary of $41,141, which is higher than the $34,281 average annual salary of an insurance specialist.
The top three skills for an insurance specialist include patients, customer service and insurance coverage. The most important skills for a billing and insurance coordinator are patients, customer service, and data entry.
| Insurance Specialist | Billing And Insurance Coordinator | |
| Yearly salary | $34,281 | $41,141 |
| Hourly rate | $16.48 | $19.78 |
| Growth rate | -3% | -3% |
| Number of jobs | 98,595 | 67,385 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 42% | Bachelor's Degree, 41% |
| Average age | 44 | 46 |
| Years of experience | 4 | 2 |
An insurance specialist is an individual responsible for interpreting insurance plans and providing risk management advice to clients and wealth managers. Insurance specialists must have a full understanding of risk management to craft a comprehensive solution that integrates well with the client's portfolio. They need to manage their clients' accounts and should maintain contact with clients after the application process. Insurance specialists must ensure that government insurance programs comply with federal laws, regulations, and contracts within the healthcare industry.
A billing and insurance coordinator is responsible for coordinating with employees from different departments of an organization for billing and insurance processing purposes. Billing and insurance coordinators sort mail for distribution to appropriate personnel, performing administrative and clerical duties as needed, managing and releasing of invoices under the manager's supervision, and responding to employees' inquiries and concerns. A billing and insurance coordinator must be highly analytical, as well as have excellent knowledge of the insurance disciplines and processes to assist the employees with their payments and benefits.
Insurance specialists and billing and insurance coordinators have different pay scales, as shown below.
| Insurance Specialist | Billing And Insurance Coordinator | |
| Average salary | $34,281 | $41,141 |
| Salary range | Between $27,000 And $42,000 | Between $27,000 And $60,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New Hampshire | Maryland |
| Best paying company | Deloitte | Kane Russell Coleman Logan |
| Best paying industry | Government | Professional |
There are a few differences between an insurance specialist and a billing and insurance coordinator in terms of educational background:
| Insurance Specialist | Billing And Insurance Coordinator | |
| Most common degree | Bachelor's Degree, 42% | Bachelor's Degree, 41% |
| Most common major | Business | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between insurance specialists' and billing and insurance coordinators' demographics:
| Insurance Specialist | Billing And Insurance Coordinator | |
| Average age | 44 | 46 |
| Gender ratio | Male, 22.1% Female, 77.9% | Male, 15.4% Female, 84.6% |
| Race ratio | Black or African American, 13.8% Unknown, 4.3% Hispanic or Latino, 14.4% Asian, 3.9% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 10.7% Unknown, 4.3% Hispanic or Latino, 21.6% Asian, 6.8% White, 55.9% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 11% | 7% |