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The differences between medical collections specialists and billing specialists can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a medical collections specialist, becoming a billing specialist takes usually requires 1-2 years. Additionally, a medical collections specialist has an average salary of $36,249, which is higher than the $35,624 average annual salary of a billing specialist.
The top three skills for a medical collections specialist include patients, healthcare and medical collections. The most important skills for a billing specialist are patients, customer service, and data entry.
| Medical Collections Specialist | Billing Specialist | |
| Yearly salary | $36,249 | $35,624 |
| Hourly rate | $17.43 | $17.13 |
| Growth rate | -8% | -3% |
| Number of jobs | 83,342 | 55,205 |
| Job satisfaction | - | - |
| Most common degree | Associate Degree, 28% | Bachelor's Degree, 31% |
| Average age | 46 | 46 |
| Years of experience | 12 | 2 |
Medical collections specialists are responsible for the collection of insurance claims. The responsibilities of this position include locating debtors, contacting debtors to address the overdue payments, keeping records of debts, collecting updated information on client accounts and payments, processing payments, and reviewing records to ensure they are accurate. They also conduct follow ups for insurance reimbursement, repossess claims, draft appeals, and resolve unpaid claims.
Billing specialists are accounting or finance employees who are responsible for sending out billing invoices to clients. They calculate charges that their clients have incurred. They then write bills, ensure that all details are correct, and send these out to clients. They also manage payment due dates and ensure that clients are duly reminded of such deadlines. Billing specialists also manage client accounts and ensure that they are paying on time. They help identify clients who have outstanding payables and send out collection notices to them. At times, billing specialists also manage the receipt of payments to manage account records better.
Medical collections specialists and billing specialists have different pay scales, as shown below.
| Medical Collections Specialist | Billing Specialist | |
| Average salary | $36,249 | $35,624 |
| Salary range | Between $30,000 And $43,000 | Between $27,000 And $45,000 |
| Highest paying City | Tracy, CA | Washington, DC |
| Highest paying state | Connecticut | Delaware |
| Best paying company | Pacific Medical | TIBCO Software |
| Best paying industry | Professional | Manufacturing |
There are a few differences between a medical collections specialist and a billing specialist in terms of educational background:
| Medical Collections Specialist | Billing Specialist | |
| Most common degree | Associate Degree, 28% | Bachelor's Degree, 31% |
| Most common major | Health Care Administration | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between medical collections specialists' and billing specialists' demographics:
| Medical Collections Specialist | Billing Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 19.5% Female, 80.5% | Male, 12.7% Female, 87.3% |
| Race ratio | Black or African American, 12.8% Unknown, 4.1% Hispanic or Latino, 20.8% Asian, 3.7% White, 58.1% American Indian and Alaska Native, 0.5% | Black or African American, 10.9% Unknown, 4.4% Hispanic or Latino, 19.2% Asian, 7.4% White, 57.3% American Indian and Alaska Native, 0.9% |
| LGBT Percentage | 8% | 7% |