Medical accountant vs cost accountant

The differences between medical accountants and cost accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a medical accountant and a cost accountant. Additionally, a cost accountant has an average salary of $60,528, which is higher than the $43,023 average annual salary of a medical accountant.

The top three skills for a medical accountant include medical billing, reconciliations and patient accounts. The most important skills for a cost accountant are reconciliations, variance analysis, and GAAP.

Medical accountant vs cost accountant overview

	Medical Accountant	Cost Accountant
Yearly salary	$43,023	$60,528
Hourly rate	$20.68	$29.10
Growth rate	6%	6%
Number of jobs	79,480	39,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 77%
Average age	44	44
Years of experience	4	4

Medical accountant vs cost accountant salary

Medical accountants and cost accountants have different pay scales, as shown below.

	Medical Accountant	Cost Accountant
Average salary	$43,023	$60,528
Salary range	Between $25,000 And $71,000	Between $45,000 And $81,000
Highest paying City	Nashua, NH	Edison, NJ
Highest paying state	New York	New Jersey
Best paying company	LifePoint Health	Google
Best paying industry	Health Care	Energy

Differences between medical accountant and cost accountant education

There are a few differences between a medical accountant and a cost accountant in terms of educational background:

	Medical Accountant	Cost Accountant
Most common degree	Bachelor's Degree, 43%	Bachelor's Degree, 77%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Medical accountant vs cost accountant demographics

Here are the differences between medical accountants' and cost accountants' demographics:

	Medical Accountant	Cost Accountant
Average age	44	44
Gender ratio	Male, 27.3% Female, 72.7%	Male, 52.6% Female, 47.4%
Race ratio	Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5%	Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between medical accountant and cost accountant duties and responsibilities

Medical accountant example responsibilities.

Maintain and order supplies, manage medical office, prepare office payroll.
Process all payroll deduction for employees that have outstanding balances including setting up new contracts and managing current deductions.
Post all EOB payments and adjustments.
File and forward secondary claims and process appeals.
Perform payment postings, deposit reconciliations, batch reviews, and adjustments.
Enter vendor invoices and cut checks on a bi-weekly basis using QuickBooks.

Cost accountant example responsibilities.

Manage ledgers and perform month end journal entries.
Manage the payroll with ADP system and account receivable.
Manage costing control as well as accounts payable (A/P) and accounts receivable (A/R).
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Prepare raw material and WIP inventory reconciliations.
Develop tracking of GAAP inventory valuation for all inventory inherit from the bankrupt former company.

Medical accountant vs cost accountant skills

Common medical accountant skills

Medical Billing, 21%
Reconciliations, 16%
Patient Accounts, 11%
EOB, 10%
Appeals, 10%
Financial Reports, 8%

Common cost accountant skills

Reconciliations, 9%
Variance Analysis, 6%
GAAP, 4%
Account Reconciliations, 3%
Cost Analysis, 3%
Financial Analysis, 3%