Senior accounts receivable specialist vs collections/accounts receivable

The differences between senior accounts receivable specialists and collections/accounts receivables 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 collections/accounts receivable. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $38,949 average annual salary of a collections/accounts receivable.

The top three skills for a senior accounts receivable specialist include account reconciliations, customer accounts and reconciliations. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.

Senior accounts receivable specialist vs collections/accounts receivable overview

	Senior Accounts Receivable Specialist	Collections/Accounts Receivable
Yearly salary	$54,494	$38,949
Hourly rate	$26.20	$18.73
Growth rate	-8%	-8%
Number of jobs	24,817	30,523
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 49%	Bachelor's Degree, 40%
Average age	46	46
Years of experience	12	12

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 collections/accounts receivable do?

An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.

Senior accounts receivable specialist vs collections/accounts receivable salary

Senior accounts receivable specialists and collections/accounts receivables have different pay scales, as shown below.

	Senior Accounts Receivable Specialist	Collections/Accounts Receivable
Average salary	$54,494	$38,949
Salary range	Between $38,000 And $78,000	Between $30,000 And $49,000
Highest paying City	Washington, DC	Boston, MA
Highest paying state	Connecticut	Connecticut
Best paying company	Amkor 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.	Apollo Global Management
Best paying industry	Technology	Finance

Differences between senior accounts receivable specialist and collections/accounts receivable education

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

	Senior Accounts Receivable Specialist	Collections/Accounts Receivable
Most common degree	Bachelor's Degree, 49%	Bachelor's Degree, 40%
Most common major	Business	Business
Most common college	-	-

Senior accounts receivable specialist vs collections/accounts receivable demographics

Here are the differences between senior accounts receivable specialists' and collections/accounts receivables' demographics:

	Senior Accounts Receivable Specialist	Collections/Accounts Receivable
Average age	46	46
Gender ratio	Male, 18.3% Female, 81.7%	Male, 25.3% Female, 74.7%
Race ratio	Black 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, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between senior accounts receivable specialist and collections/accounts receivable 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.

Collections/accounts receivable example responsibilities.

Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
Work accounts receivable for Medicaid verification and payments.
Work remittance advice from Medicaid ensuring accuracy of payments.
Research and obtain extensive knowledge of FDCPA debt recovery laws and assist in recovering commercial debt from organizations.
Communicate effectively with patients, physicians, hospital staff, and insurance representatives to ensure accuracy in claims processing.
Review claims to determine if process correctly and if necessary, direct patients to contact insurance companies regarding additional benefit questions.

Senior accounts receivable specialist vs collections/accounts receivable 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 collections/accounts receivable skills

Customer Service, 21%
Patients, 6%
Delinquent Accounts, 5%
Credit Card Payments, 5%
Past Due Accounts, 5%
Customer Accounts, 5%

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Senior Accounts Receivable Specialist vs Collections/Accounts Receivable

Updated January 8, 2025

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