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Insurance specialist vs billing and insurance coordinator

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 vs billing and insurance coordinator overview

Insurance SpecialistBilling And Insurance Coordinator
Yearly salary$34,281$41,141
Hourly rate$16.48$19.78
Growth rate-3%-3%
Number of jobs98,59567,385
Job satisfaction--
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 41%
Average age4446
Years of experience42

What does an insurance specialist do?

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.

What does a billing and insurance coordinator do?

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 specialist vs billing and insurance coordinator salary

Insurance specialists and billing and insurance coordinators have different pay scales, as shown below.

Insurance SpecialistBilling And Insurance Coordinator
Average salary$34,281$41,141
Salary rangeBetween $27,000 And $42,000Between $27,000 And $60,000
Highest paying CityNew York, NYWashington, DC
Highest paying stateNew HampshireMaryland
Best paying companyDeloitteKane Russell Coleman Logan
Best paying industryGovernmentProfessional

Differences between insurance specialist and billing and insurance coordinator education

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

Insurance SpecialistBilling And Insurance Coordinator
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 41%
Most common majorBusinessBusiness
Most common college-University of Pennsylvania

Insurance specialist vs billing and insurance coordinator demographics

Here are the differences between insurance specialists' and billing and insurance coordinators' demographics:

Insurance SpecialistBilling And Insurance Coordinator
Average age4446
Gender ratioMale, 22.1% Female, 77.9%Male, 15.4% Female, 84.6%
Race ratioBlack 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 Percentage11%7%

Differences between insurance specialist and billing and insurance coordinator duties and responsibilities

Insurance specialist example responsibilities.

  • Manage database by processing renewals and endorsements.
  • Maintain confidentiality and adhere HIPPA guidelines with handling patients' information
  • Make recommendations on operationalization and oversight of specific marketplace enrollment policies.
  • Verify various health insurance plan benefit information and eligibility for patients with chronic illnesses.
  • Identify third party patient eligibility for Medicaid, Medicare, private insurance and alternate resources.
  • Enter and prepare advanced beneficiary notices base on diagnosis and procedure codes for Medicare cover patients.
  • Show more

Billing and insurance coordinator example responsibilities.

  • Develop a database to maintain/update all manage care, Medicare and Medicaid fee schedules for accessibility by physicians and administrators.
  • Look up for ICD-9 codes charges on a daily basic to verify that physicians post charges.
  • Enter new and verify insurance information, putting in ICD-9 codes, correcting location and too late to bill.
  • Instruct and supervise support staff in accurate CPT and ICD9 coding for the oncology department of a large medical clinic.
  • Research and resubmitted reject claims with correct diagnosis, CPT codes and erroneous demographics for deny charges to insurances for reprocessing.
  • Maintain strict patient confidentiality and adhere to HIPAA guidelines/regulations.
  • Show more

Insurance specialist vs billing and insurance coordinator skills

Common insurance specialist skills
  • Patients, 18%
  • Customer Service, 11%
  • Insurance Coverage, 4%
  • Insurance Verification, 4%
  • Life Insurance, 4%
  • Data Entry, 4%
Common billing and insurance coordinator skills
  • Patients, 16%
  • Customer Service, 12%
  • Data Entry, 7%
  • Billing System, 4%
  • Billing Issues, 4%
  • Medical Billing, 3%

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