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Revenue specialist vs billing representative

The differences between revenue specialists and billing representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a revenue specialist and a billing representative. Additionally, a revenue specialist has an average salary of $44,779, which is higher than the $35,002 average annual salary of a billing representative.

The top three skills for a revenue specialist include patients, revenue cycle and CPT. The most important skills for a billing representative are patients, customer service, and data entry.

Revenue specialist vs billing representative overview

Revenue SpecialistBilling Representative
Yearly salary$44,779$35,002
Hourly rate$21.53$16.83
Growth rate-7%-3%
Number of jobs28,76395,425
Job satisfaction--
Most common degreeBachelor's Degree, 52%Bachelor's Degree, 30%
Average age4846
Years of experience22

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.

What does a billing representative do?

A billing representative assists with the overall operations of the organization's billing department. Billing representatives post payments timely on the database, update account statements, generate financial reports, release invoices, and resolve account discrepancies. They also perform client accounts reconciliation as needed, monitor account receivables, review overdated balance, and notify clients of payment updates to ensure accurate and timely billing. A billing representative must have strong analytical and communication skills to manage clients' accounts, as well as comprehensive knowledge on the accounting industry to explain the payment terms and policies of an organization to a client.

Revenue specialist vs billing representative salary

Revenue specialists and billing representatives have different pay scales, as shown below.

Revenue SpecialistBilling Representative
Average salary$44,779$35,002
Salary rangeBetween $28,000 And $71,000Between $28,000 And $42,000
Highest paying CityCamden, NJWorcester, MA
Highest paying stateNew JerseyMassachusetts
Best paying companyMcKinsey & Company IncRelevante
Best paying industryManufacturingTechnology

Differences between revenue specialist and billing representative education

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

Revenue SpecialistBilling Representative
Most common degreeBachelor's Degree, 52%Bachelor's Degree, 30%
Most common majorBusinessBusiness
Most common collegeUniversity of Southern CaliforniaStanford University

Revenue specialist vs billing representative demographics

Here are the differences between revenue specialists' and billing representatives' demographics:

Revenue SpecialistBilling Representative
Average age4846
Gender ratioMale, 24.3% Female, 75.7%Male, 15.7% Female, 84.3%
Race ratioBlack 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%Black or African American, 10.4% Unknown, 4.3% Hispanic or Latino, 19.9% Asian, 7.3% White, 57.2% American Indian and Alaska Native, 0.9%
LGBT Percentage8%7%

Differences between revenue specialist and billing representative duties and responsibilities

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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Billing representative example responsibilities.

  • Manage software programs for MSP accounts, monthly billing and EMC file transfers to Medicare.
  • Accept and process healthcare claims and confidential medical records; verify patient eligibility and manage the Medicare and Medicaid billing process.
  • Process orders in compliance with Medicare, Medicaid and private insurance verification guidelines; confirming customer's eligibility and insurance coverage.
  • Verify insurance eligibility for schedule appointments, and verify cash pricing for private pay patients who request cost by CPT code.
  • Submit and receive Medicare and Medicaid claims electronically on a daily basis.
  • Utilize extensive computer skills and coding knowledge to produce and submit physical therapy and occupational therapy claims through medicaid and medicare.
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Revenue specialist vs billing representative skills

Common revenue specialist skills
  • Patients, 17%
  • Revenue Cycle, 13%
  • CPT, 6%
  • Data Entry, 5%
  • Medical Terminology, 5%
  • Medicaid, 5%
Common billing representative skills
  • Patients, 18%
  • Customer Service, 13%
  • Data Entry, 6%
  • Medical Billing, 5%
  • Medicaid, 5%
  • Patient Accounts, 4%

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