Senior account specialist vs collections specialist

The differences between senior account specialists and collections specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a senior account specialist and a collections specialist. Additionally, a senior account specialist has an average salary of $68,185, which is higher than the $35,164 average annual salary of a collections specialist.

The top three skills for a senior account specialist include patients, healthcare and account management. The most important skills for a collections specialist are customer service, patients, and customer accounts.

Senior account specialist vs collections specialist overview

	Senior Account Specialist	Collections Specialist
Yearly salary	$68,185	$35,164
Hourly rate	$32.78	$16.91
Growth rate	-8%	-8%
Number of jobs	103,476	40,277
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 34%
Average age	46	46
Years of experience	12	12

What does a senior account specialist do?

A senior account specialist is in charge of overseeing client accounts and financial transactions in businesses, ensuring accuracy and efficiency. It is their responsibility to gather and analyze extensive data, manage staff, and liaise with external parties such as vendors and suppliers. They also process invoices, vouchers, checks, job orders, and other documents. Moreover, as a senior account specialist, it is essential to lead and serve as a mentor to junior account specialists, all while implementing the company's policies and regulations.

What does a collections specialist do?

As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.

Senior account specialist vs collections specialist salary

Senior account specialists and collections specialists have different pay scales, as shown below.

	Senior Account Specialist	Collections Specialist
Average salary	$68,185	$35,164
Salary range	Between $46,000 And $100,000	Between $27,000 And $45,000
Highest paying City	Washington, DC	Boston, MA
Highest paying state	Connecticut	Connecticut
Best paying company	AbbVie	Kent Daniels & Associates
Best paying industry	Pharmaceutical	Finance

Differences between senior account specialist and collections specialist education

There are a few differences between a senior account specialist and a collections specialist in terms of educational background:

	Senior Account Specialist	Collections Specialist
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 34%
Most common major	Business	Business
Most common college	-	-

Senior account specialist vs collections specialist demographics

Here are the differences between senior account specialists' and collections specialists' demographics:

	Senior Account Specialist	Collections Specialist
Average age	46	46
Gender ratio	Male, 37.4% Female, 62.6%	Male, 30.5% Female, 69.5%
Race ratio	Black or African American, 14.0% Unknown, 4.0% Hispanic or Latino, 17.5% Asian, 3.6% White, 60.4% American Indian and Alaska Native, 0.5%	Black or African American, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between senior account specialist and collections specialist duties and responsibilities

Senior account specialist example responsibilities.

Manage accounts while providing excellent customer service, help build financial relationships, redirecting calls in upselling credit per customer needs
Educate and understand Medicare policies and guidelines for qualifying perspective patients.
Create team PowerPoint presentations for team meetings.
Provide customers with HIPPA forms and rules and regulations.
Submit primary and secondary Pennsylvania and Ohio Medicaid claims online thru PROMIS.
Know all laws including hippa call recording disclosures, credit card laws etc.

Collections specialist example responsibilities.

Manage university A/R processes and enforce tuition payment policy.
Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
Review denied Medicare and Maine Medicaid insurance claims for accuracy.
Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.
Analyze accounts for patients ineligible for private insurance, Medicare or Medicaid and indicating inability to pay balance.
Possess effective persuasion and negotiation skills, excellent interpersonal and communications skills with the ability to deliver quality customer service.

Senior account specialist vs collections specialist skills

Common senior account specialist skills

Patients, 20%
Healthcare, 13%
Account Management, 9%
Excellent Interpersonal, 6%
Customer Accounts, 4%
Problem Resolution, 3%

Common collections specialist skills

Customer Service, 23%
Patients, 8%
Customer Accounts, 6%
Payment Arrangements, 5%
Delinquent Accounts, 4%
Phone Calls, 4%

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Senior Account Specialist
Senior Account Specialist vs Collections Specialist

Updated January 8, 2025

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