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The differences between reimbursement specialists and revenue 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 reimbursement specialist, becoming a revenue specialist takes usually requires 1-2 years. Additionally, a revenue specialist has an average salary of $44,779, which is higher than the $38,273 average annual salary of a reimbursement specialist.
The top three skills for a reimbursement specialist include patients, customer service and appeals. The most important skills for a revenue specialist are patients, revenue cycle, and CPT.
| Reimbursement Specialist | Revenue Specialist | |
| Yearly salary | $38,273 | $44,779 |
| Hourly rate | $18.40 | $21.53 |
| Growth rate | 11% | -7% |
| Number of jobs | 32,292 | 28,763 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 52% |
| Average age | 45 | 48 |
| Years of experience | 12 | 2 |
A reimbursement specialist is responsible for analyzing insurance documents, processing reimbursement claims, and releasing accurate billing statements for insurance claims. Reimbursement specialists must have excellent analytical skills, especially on performing clerical tasks to evaluate insurance cases, investigate cases, and update the account information of the clients on the database. They should also have impeccable communication skills and understanding of the insurance processes to be able to coordinate with the clients, explaining the procedures of their claims accurately, and coordinate with the insurance management to improve the claims processes.
A revenue specialist is in charge of overseeing and processing payments for their company, ensuring accuracy and timeliness. Their responsibilities revolve around reviewing invoices and insurance claims, monitoring tax deductions and expenses, liaising with external parties, collecting payments, producing progress and revenue reports, and maintaining records of all transactions. Furthermore, as a revenue specialist, it is essential to devise strategies for managing revenues, all while upholding the company's policies and regulations, including its vision and mission.
Reimbursement specialists and revenue specialists have different pay scales, as shown below.
| Reimbursement Specialist | Revenue Specialist | |
| Average salary | $38,273 | $44,779 |
| Salary range | Between $29,000 And $49,000 | Between $28,000 And $71,000 |
| Highest paying City | Lynchburg, VA | Camden, NJ |
| Highest paying state | Virginia | New Jersey |
| Best paying company | Novartis | McKinsey & Company Inc |
| Best paying industry | Pharmaceutical | Manufacturing |
There are a few differences between a reimbursement specialist and a revenue specialist in terms of educational background:
| Reimbursement Specialist | Revenue Specialist | |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between reimbursement specialists' and revenue specialists' demographics:
| Reimbursement Specialist | Revenue Specialist | |
| Average age | 45 | 48 |
| Gender ratio | Male, 15.2% Female, 84.8% | Male, 24.3% Female, 75.7% |
| Race ratio | Black or African American, 9.8% Unknown, 4.2% Hispanic or Latino, 16.9% Asian, 8.1% White, 59.8% American Indian and Alaska Native, 1.3% | Black or African American, 12.9% Unknown, 3.2% Hispanic or Latino, 16.2% Asian, 9.9% White, 57.5% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 9% | 8% |