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Senior accounts receivable specialist vs collection analyst

The differences between senior accounts receivable specialists and collection analysts 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 accounts receivable specialist and a collection analyst. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $46,819 average annual salary of a collection analyst.

The top three skills for a senior accounts receivable specialist include account reconciliations, customer accounts and reconciliations. The most important skills for a collection analyst are customer service, portfolio, and patients.

Senior accounts receivable specialist vs collection analyst overview

Senior Accounts Receivable SpecialistCollection Analyst
Yearly salary$54,494$46,819
Hourly rate$26.20$22.51
Growth rate-8%-8%
Number of jobs24,81728,967
Job satisfaction--
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 55%
Average age4646
Years of experience1212

What does a senior accounts receivable specialist do?

Senior accounts receivable specialists follow established accounts receivable and account payable policies, guidelines, control processes, and procedures. The specialists make sure that activities associated with the payables and receivables are accurate. They assist the partners of firms in terms of collecting and reporting accounts receivable balances that are already past due. It is their job to establish extensive contact with clients and partners. Also, they are responsible for tracking payments and perform banking deposits.

What does a collection analyst do?

Collections analysts assess the riskiness of a company or person in credit extension and repayment collection. The analysts manage data processing contract procurement negotiation. They help in the quarterly and yearly external and internal audits. It is part of their job to collect the first payment default and make sure that portfolios are inappropriate performance. They also act on collection calls for the area of responsibility assigned to them.

Senior accounts receivable specialist vs collection analyst salary

Senior accounts receivable specialists and collection analysts have different pay scales, as shown below.

Senior Accounts Receivable SpecialistCollection Analyst
Average salary$54,494$46,819
Salary rangeBetween $38,000 And $78,000Between $31,000 And $69,000
Highest paying CityWashington, DCWashington, DC
Highest paying stateConnecticutConnecticut
Best paying companyAmkor Technology is a strategically located company with a diversified working environment. Employees mention free lunches, transportation, and lodging, and the management is good at recognizing key talents.American Tower
Best paying industryTechnologyTechnology

Differences between senior accounts receivable specialist and collection analyst education

There are a few differences between a senior accounts receivable specialist and a collection analyst in terms of educational background:

Senior Accounts Receivable SpecialistCollection Analyst
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 55%
Most common majorBusinessBusiness
Most common college--

Senior accounts receivable specialist vs collection analyst demographics

Here are the differences between senior accounts receivable specialists' and collection analysts' demographics:

Senior Accounts Receivable SpecialistCollection Analyst
Average age4646
Gender ratioMale, 18.3% Female, 81.7%Male, 37.7% Female, 62.3%
Race ratioBlack or African American, 14.1% Unknown, 4.1% Hispanic or Latino, 19.0% Asian, 3.8% White, 58.5% American Indian and Alaska Native, 0.5%Black or African American, 13.9% Unknown, 4.2% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.8% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior accounts receivable specialist and collection analyst duties and responsibilities

Senior accounts receivable specialist example responsibilities.

  • Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
  • Enter credit/debit memo, set up and process franchisees ACH.
  • Create and set up new financial institute bank accounts for ACH services.
  • Review submission of all charges and payments to include proper medical data and the appropriate CPT and ICD-9 codes.
  • Collect money owe to Texas Medicaid by medical providers.
  • Correspond with various commercial and federal insurance companies including Medicare and Medicaid.
  • Show more

Collection analyst example responsibilities.

  • Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
  • Assist in reducing the DSO down and limit bad debt expense while focusing on building revenue.
  • Maintain customer relations while improving company DSO.
  • Work remittance advice from Medicaid and Medicare ensuring accuracy of payments, correcting account billing according with Medicaid or Medicare disposition.
  • Do credit checks for new clients with Dunn & Bradstreet along with Equifax.
  • Perform processing functions necessary to ensure timely and accurate DME billing.

Senior accounts receivable specialist vs collection analyst skills

Common senior accounts receivable specialist skills
  • Account Reconciliations, 6%
  • Customer Accounts, 6%
  • Reconciliations, 5%
  • Customer Service, 4%
  • Patient Accounts, 4%
  • Credit Card Payments, 4%
Common collection analyst skills
  • Customer Service, 16%
  • Portfolio, 9%
  • Patients, 5%
  • Customer Accounts, 5%
  • Delinquent Accounts, 4%
  • Reconciliations, 4%

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