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Reimbursement specialist vs revenue specialist

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 vs revenue specialist overview

Reimbursement SpecialistRevenue Specialist
Yearly salary$38,273$44,779
Hourly rate$18.40$21.53
Growth rate11%-7%
Number of jobs32,29228,763
Job satisfaction--
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 52%
Average age4548
Years of experience122

What does a reimbursement specialist do?

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.

What does a revenue specialist do?

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 specialist vs revenue specialist salary

Reimbursement specialists and revenue specialists have different pay scales, as shown below.

Reimbursement SpecialistRevenue Specialist
Average salary$38,273$44,779
Salary rangeBetween $29,000 And $49,000Between $28,000 And $71,000
Highest paying CityLynchburg, VACamden, NJ
Highest paying stateVirginiaNew Jersey
Best paying companyNovartisMcKinsey & Company Inc
Best paying industryPharmaceuticalManufacturing

Differences between reimbursement specialist and revenue specialist education

There are a few differences between a reimbursement specialist and a revenue specialist in terms of educational background:

Reimbursement SpecialistRevenue Specialist
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 52%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Southern California

Reimbursement specialist vs revenue specialist demographics

Here are the differences between reimbursement specialists' and revenue specialists' demographics:

Reimbursement SpecialistRevenue Specialist
Average age4548
Gender ratioMale, 15.2% Female, 84.8%Male, 24.3% Female, 75.7%
Race ratioBlack 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 Percentage9%8%

Differences between reimbursement specialist and revenue specialist duties and responsibilities

Reimbursement specialist example responsibilities.

  • Manage the EDI clearinghouse rejections.
  • Process department payroll, order supplies, and manage petty-cash funds.
  • Manage use of various systems, such as MEDITECH, Cerner, WebNow, and yield-base follow-up tool.
  • Manage cases by aggressively directing the litigation process.
  • Negotiate fee structure for manage care contracts on acute and rehabilitation facilities.
  • Research medical coding ICD-9, ICD-10, HCPCS and CPT-4 to let client know the outcome of medical claim.
  • Show more

Revenue specialist example responsibilities.

  • Process account receivables, charge entry, claims, and reimbursement in adherence to Medicare and all HMO guidelines.
  • Establish a strong understanding of ICD-9 diagnosis and medical inventory codes.
  • Work claim edits to ensure clean claim billing to Medicare/Medicare HMO's.
  • Review the complex medical records and accurately codes primary/secondary diagnoses and procedures using ICD-10-CM and CPT coding conventions.
  • Initiate appeals and ensure required documentation are submitted in the appeals process.
  • Complete appeals when authorization are not obtain and or unusual procedure are performed.
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Reimbursement specialist vs revenue specialist skills

Common reimbursement specialist skills
  • Patients, 20%
  • Customer Service, 9%
  • Appeals, 6%
  • CPT, 5%
  • Medicare, 4%
  • Medicaid, 4%
Common revenue specialist skills
  • Patients, 17%
  • Revenue Cycle, 13%
  • CPT, 6%
  • Data Entry, 5%
  • Medical Terminology, 5%
  • Medicaid, 5%

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