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Provider enrollment specialist vs retirement plan specialist

The differences between provider enrollment specialists and retirement plan specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a provider enrollment specialist and a retirement plan specialist. Additionally, a retirement plan specialist has an average salary of $60,611, which is higher than the $39,494 average annual salary of a provider enrollment specialist.

The top three skills for a provider enrollment specialist include data entry, patients and CAQH. The most important skills for a retirement plan specialist are life insurance, financial products, and FINRA.

Provider enrollment specialist vs retirement plan specialist overview

Provider Enrollment SpecialistRetirement Plan Specialist
Yearly salary$39,494$60,611
Hourly rate$18.99$29.14
Growth rate7%7%
Number of jobs42,2719,336
Job satisfaction--
Most common degreeBachelor's Degree, 46%Bachelor's Degree, 76%
Average age4545
Years of experience66

What does a provider enrollment specialist do?

A provider enrollment specialist is in charge of handling application procedures in a company or facility. Their responsibilities typically revolve around gathering information, reviewing and verifying requirements, processing applications, and liaising with clients. They may also maintain and update databases, assist during complicated procedures, and ensure that all requirements are complete and accurate. Furthermore, as a provider enrollment specialist, it is essential to discuss terms and conditions to clients, helping them understand the company's policies and regulations, including its vision and mission.

What does a retirement plan specialist do?

Retirement plan specialists are experts who plan out their client's financial needs for retirement. The specialist's design and implement savings, benefit, and pension programs for clients. They have to explain the complicated nature of compensation, investment, and retirement packages to employees clearly and concisely. They process retirement plans following company and federal regulations. Also, they often have a background in business or human resources, and they may choose to earn employee benefit certifications that may help with their career advancement.

Provider enrollment specialist vs retirement plan specialist salary

Provider enrollment specialists and retirement plan specialists have different pay scales, as shown below.

Provider Enrollment SpecialistRetirement Plan Specialist
Average salary$39,494$60,611
Salary rangeBetween $28,000 And $54,000Between $41,000 And $88,000
Highest paying CityOakland, CA-
Highest paying stateAlaska-
Best paying companyMcKinsey & Company Inc-
Best paying industryTechnology-

Differences between provider enrollment specialist and retirement plan specialist education

There are a few differences between a provider enrollment specialist and a retirement plan specialist in terms of educational background:

Provider Enrollment SpecialistRetirement Plan Specialist
Most common degreeBachelor's Degree, 46%Bachelor's Degree, 76%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Provider enrollment specialist vs retirement plan specialist demographics

Here are the differences between provider enrollment specialists' and retirement plan specialists' demographics:

Provider Enrollment SpecialistRetirement Plan Specialist
Average age4545
Gender ratioMale, 19.6% Female, 80.4%Male, 54.4% Female, 45.6%
Race ratioBlack or African American, 12.5% Unknown, 3.6% Hispanic or Latino, 15.6% Asian, 7.5% White, 60.4% American Indian and Alaska Native, 0.3%Black or African American, 10.5% Unknown, 3.8% Hispanic or Latino, 15.2% Asian, 7.8% White, 62.2% American Indian and Alaska Native, 0.4%
LGBT Percentage9%9%

Differences between provider enrollment specialist and retirement plan specialist duties and responsibilities

Provider enrollment specialist example responsibilities.

  • Manage federal and state-mandate physician credentialing activities; act as NCQA committee liaison.
  • Provide enrollment counseling to eligible recipients about Medicaid manage care and promote their voluntary enrollment into an HMO.
  • Review provider enrollment applications to ensure the credentials and licenses meet all requirements for participation in the Medicare program.
  • Verify provider is eligible to participate in Medicare according to CMS guidelines.
  • Verify claim information using ICD-9 and medical terminology and CHAMPUS/ TRICARE guidelines .!
  • Complete require forms and application for changes or updates in billing systems including EFT and or notification of Athena.
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Retirement plan specialist example responsibilities.

  • Generate sales leads for personal investments, annuities and plan sales.
  • Participate in establishing and testing pension plans on PeopleSoft to automate applicable calculations.
  • Call into the ADP payroll client base to cross-sell retirement products and work with payroll reps on joint sales.
  • Research and advise clients and attorneys on laws and regulations to comply with QDRO and federal guidelines.
  • Train staff on ASC software and provide office support, as needed, for issues and new training.
  • Assist in the planning, testing and conversion of the company's payroll system from GEAC to JD Edwards.
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Provider enrollment specialist vs retirement plan specialist skills

Common provider enrollment specialist skills
  • Data Entry, 12%
  • Patients, 12%
  • CAQH, 9%
  • Medicare, 7%
  • Medicaid, 7%
  • Provider Enrollment Applications, 6%
Common retirement plan specialist skills
  • Life Insurance, 14%
  • Financial Products, 6%
  • FINRA, 6%
  • ERISA, 6%
  • Retirement Accounts, 6%
  • Plan Design, 5%

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