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Senior accounts receivable specialist vs collections specialist

The differences between senior accounts receivable 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 accounts receivable specialist and a collections specialist. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $35,164 average annual salary of a collections specialist.

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

Senior accounts receivable specialist vs collections specialist overview

Senior Accounts Receivable SpecialistCollections Specialist
Yearly salary$54,494$35,164
Hourly rate$26.20$16.91
Growth rate-8%-8%
Number of jobs24,81740,277
Job satisfaction--
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 34%
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 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 accounts receivable specialist vs collections specialist salary

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

Senior Accounts Receivable SpecialistCollections Specialist
Average salary$54,494$35,164
Salary rangeBetween $38,000 And $78,000Between $27,000 And $45,000
Highest paying CityWashington, DCBoston, MA
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.Kent Daniels & Associates
Best paying industryTechnologyFinance

Differences between senior accounts receivable specialist and collections specialist education

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

Senior Accounts Receivable SpecialistCollections Specialist
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 34%
Most common majorBusinessBusiness
Most common college--

Senior accounts receivable specialist vs collections specialist demographics

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

Senior Accounts Receivable SpecialistCollections Specialist
Average age4646
Gender ratioMale, 18.3% Female, 81.7%Male, 30.5% Female, 69.5%
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, 12.2% Unknown, 4.1% Hispanic or Latino, 18.5% Asian, 3.7% White, 61.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior accounts receivable specialist and collections specialist 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.
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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.
  • Show more

Senior accounts receivable specialist vs collections specialist 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 specialist skills
  • Customer Service, 23%
  • Patients, 8%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
  • Delinquent Accounts, 4%
  • Phone Calls, 4%

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