Medical collections specialist vs collections/accounts receivable

The differences between medical collections specialists and collections/accounts receivables can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a medical collections specialist and a collections/accounts receivable. Additionally, a collections/accounts receivable has an average salary of $38,949, which is higher than the $36,249 average annual salary of a medical collections specialist.

The top three skills for a medical collections specialist include patients, healthcare and medical collections. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.

Medical collections specialist vs collections/accounts receivable overview

	Medical Collections Specialist	Collections/Accounts Receivable
Yearly salary	$36,249	$38,949
Hourly rate	$17.43	$18.73
Growth rate	-8%	-8%
Number of jobs	83,342	30,523
Job satisfaction	-	-
Most common degree	Associate Degree, 28%	Bachelor's Degree, 40%
Average age	46	46
Years of experience	12	12

What does a medical collections specialist do?

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.

What does a collections/accounts receivable do?

An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.

Medical collections specialist vs collections/accounts receivable salary

Medical collections specialists and collections/accounts receivables have different pay scales, as shown below.

	Medical Collections Specialist	Collections/Accounts Receivable
Average salary	$36,249	$38,949
Salary range	Between $30,000 And $43,000	Between $30,000 And $49,000
Highest paying City	Tracy, CA	Boston, MA
Highest paying state	Connecticut	Connecticut
Best paying company	Pacific Medical	Apollo Global Management
Best paying industry	Professional	Finance

Differences between medical collections specialist and collections/accounts receivable education

There are a few differences between a medical collections specialist and a collections/accounts receivable in terms of educational background:

	Medical Collections Specialist	Collections/Accounts Receivable
Most common degree	Associate Degree, 28%	Bachelor's Degree, 40%
Most common major	Health Care Administration	Business
Most common college	-	-

Medical collections specialist vs collections/accounts receivable demographics

Here are the differences between medical collections specialists' and collections/accounts receivables' demographics:

	Medical Collections Specialist	Collections/Accounts Receivable
Average age	46	46
Gender ratio	Male, 19.5% Female, 80.5%	Male, 25.3% Female, 74.7%
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, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between medical collections specialist and collections/accounts receivable duties and responsibilities

Medical collections specialist example responsibilities.

Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
Job duties include collecting on HMO, PPO, Medicare, and HMO Medicaid.
Work directly with Medicare and HMO Medicaid plans, and statewide HMO/PPO/POS plans.
Reprocess denied medical claims using extensive appeal tactics or special appeals processing instructions for commercial and government carriers.
Adhere to all HIPAA guidelines as well as various policies and guidelines.
Provide itemized billing statements and screen HIPAA authorization forms for hundreds of legal firms.

Collections/accounts receivable example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Work accounts receivable for Medicaid verification and payments.
Work remittance advice from Medicaid ensuring accuracy of payments.
Research and obtain extensive knowledge of FDCPA debt recovery laws and assist in recovering commercial debt from organizations.
Communicate effectively with patients, physicians, hospital staff, and insurance representatives to ensure accuracy in claims processing.
Review claims to determine if process correctly and if necessary, direct patients to contact insurance companies regarding additional benefit questions.

Medical collections specialist vs collections/accounts receivable skills

Common medical collections specialist skills

Patients, 19%
Healthcare, 14%
Medical Collections, 7%
Medicaid, 5%
Patient Accounts, 5%
Appeals, 5%

Common collections/accounts receivable skills

Customer Service, 21%
Patients, 6%
Delinquent Accounts, 5%
Credit Card Payments, 5%
Past Due Accounts, 5%
Customer Accounts, 5%

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Medical Collections Specialist
Medical Collections Specialist vs Collections/Accounts Receivable

Updated January 8, 2025

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