What does a medical accountant do?
Medical accountant responsibilities
Here are examples of responsibilities from real medical accountant resumes:
- 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.
- Ensure all EOB's and checks receive via mail or electronically are properly scan, name, and store.
- File insurance claims to Medicare, Medicaid, and private insurance companies, maintain patient records and medical coding.
- Assist with front office duties, answer phone lines, verify patient's insurance, educate patient on HIPPA guidelines.
- Develop improved procedures to streamline processing of Medicare and Medicaid claims.
- Collaborate with payroll conversion process from ADP to PeopleSoft; performing parallel testing and confirming accuracy of payroll information in PeopleSoft.
- Respond to questions from business units regarding general accounting and/or PeopleSoft system matters and investigate and resolve GL accounting inconsistencies.
Medical accountant skills and personality traits
We calculated that 21% of Medical Accountants are proficient in Medical Billing, Reconciliations, and Patient Accounts. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Medical Accountants that have these skills listed on their resume here:
- Medical Billing, 21%
Call Center Medical Billing Software exp.
- Reconciliations, 16%
Managed & Review accounts for collections, preparation of annual financial statements/monthly reconciliations.
- Patient Accounts, 11%
Maintained all patient accounts to include: monthly statements, late reminders and forwarding to collections if necessary.
- EOB, 10%
Ensured all EOB's and checks received via mail or electronically were properly scanned, named, and stored.
- Appeals, 10%
File and forward secondary claims and process appeals.
- Financial Reports, 8%
Research, financial reports, and working with the physicians accountants.
Common skills that a medical accountant uses to do their job include "medical billing," "reconciliations," and "patient accounts." You can find details on the most important medical accountant responsibilities below.
Communication skills. Another essential skill to perform medical accountant duties is communication skills. Medical accountants responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Medical accountants also use communication skills in their role according to a real resume snippet: "~required extensive oral and written communication with internal and external stakeholders to balance and reconciliation of applicable ledgers. "
Detail oriented. medical accountants are also known for detail oriented, which are critical to their duties. You can see how this skill relates to medical accountant responsibilities, because "accountants and auditors must pay attention to detail when compiling and examining documents." A medical accountant resume example shows how detail oriented is used in the workplace: "focused and meticulous medical billing and coding specialist with an extraordinary eye for detail and a strong customer service ethic. "
Math skills. medical accountant responsibilities often require "math skills." The duties that rely on this skill are shown by the fact that "accountants and auditors must be able to analyze, compare, and interpret facts and figures." This resume example shows what medical accountants do with math skills on a typical day: "recorded journal entries and bookkeeping utilized statistics knowledge and analytical skills to analyze financial reports provided solutions to meet financial budget"
Organizational skills. Another common skill required for medical accountant responsibilities is "organizational skills." This skill comes up in the duties of medical accountants all the time, as "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." An excerpt from a real medical accountant resume shows how this skill is central to what a medical accountant does: "recognized as a result-oriented and solution-focused employee ready to take initiatives while possessing strong analytical and organizational skills. "
The three companies that hire the most medical accountants are:
- Robert Half3 medical accountants jobs
- Randstad North America, Inc.1 medical accountants jobs
- Premier Medical Group1 medical accountants jobs
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Compare different medical accountants
Medical accountant vs. Accounting analyst
An accounting analyst is responsible for supporting the accounting operations of an organization, analyzing financial transactions and financial statements, and resolving account discrepancies. Accounting analysts interpret financial data by consolidating account transactions, performing account reconciliation, and managing account receivables. They also assist in preparing and releasing invoices, issuing billing statements, and creating comprehensive financial reports on the company's budget and expenses. An accounting analyst must have excellent knowledge of the accounting principles and disciplines, as well as extensive analytical and communication skills to perform duties and meet deadlines under minimal supervision.
While similarities exist, there are also some differences between medical accountants and accounting analyst. For instance, medical accountant responsibilities require skills such as "medical billing," "medical accounts," "medical terminology," and "patient accounts." Whereas a accounting analyst is skilled in "account reconciliations," "gaap," "strong analytical," and "internal controls." This is part of what separates the two careers.
Accounting analysts tend to make the most money working in the finance industry, where they earn an average salary of $66,550. In contrast, medical accountants make the biggest average salary, $47,944, in the health care industry.accounting analysts tend to reach higher levels of education than medical accountants. In fact, accounting analysts are 6.6% more likely to graduate with a Master's Degree and 0.2% more likely to have a Doctoral Degree.Medical accountant vs. Accountant internship
An accounting intern is responsible for assisting an organization's accounting department, observing practical applications and processes, and performing accounting duties under the supervision of tenured accounting staff. Accounting interns support the accounting operations by preparing and organizing financial reports, helping with accounts reconciliation, researching financial and stock market trends, utilizing various accounting software, and managing feedback from their mentors. An accounting intern must be detail-oriented and a fast-learner, immediately adjusting to the company's culture and actively cooperating with the team to ensure a smooth flow of operations.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that medical accountant responsibilities requires skills like "medical billing," "medical accounts," "reconciliations," and "medical terminology." But an accountant internship might use other skills in their typical duties, such as, "r," "account management," "powerpoint," and "renewable energy."
Accountant interns may earn a lower salary than medical accountants, but accountant interns earn the most pay in the media industry with an average salary of $36,253. On the other hand, medical accountants receive higher pay in the health care industry, where they earn an average salary of $47,944.accountant interns earn similar levels of education than medical accountants in general. They're 4.0% more likely to graduate with a Master's Degree and 0.2% more likely to earn a Doctoral Degree.Medical accountant vs. Accountant/consultant
Accountants/consultants perform accounting tasks for organizations or companies. The accountants improve accounting practices and prepare financial statements at the end of every year. They analyze financial data and offer advice on regulatory compliance issues to the finance department. It is their job to make sure that the online system is secure. Most of the day, they organize invoices, prepare statements, and supervising systems. They should be equipped with analytical skills, industry knowledge, critical thinking, and interpersonal communication.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from medical accountant resumes include skills like "medical billing," "medical accounts," "medical terminology," and "patient accounts," whereas an accountant/consultant is more likely to list skills in "account management," "product knowledge," "strong analytical," and "leveraged. "
Accountant/consultants earn the best pay in the finance industry, where they command an average salary of $68,479. Medical accountants earn the highest pay from the health care industry, with an average salary of $47,944.accountant/consultants typically earn higher educational levels compared to medical accountants. Specifically, they're 6.2% more likely to graduate with a Master's Degree, and 0.4% more likely to earn a Doctoral Degree.Medical accountant vs. Account analyst
Account analysts are responsible for analyzing account statements and financial transactions of an organization, resolving billing discrepancies, and managing account receivables. They assess the company's financial stability and identify opportunities to improve data analysis techniques by adhering to accounting principles and the company's operational protocols. Account analysts prepare financial reports, evaluate accounts payable, assist in tax audits, and release invoices. They should have excellent analytical and communication skills, especially on posting accurate account reports on the database.
Types of medical accountant
Updated January 8, 2025
