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Senior collection specialist vs account specialist

The differences between senior collection specialists and account 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 collection specialist and an account specialist. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $42,586 average annual salary of an account specialist.

The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for an account specialist are customer service, patients, and account management.

Senior collection specialist vs account specialist overview

Senior Collection SpecialistAccount Specialist
Yearly salary$45,150$42,586
Hourly rate$21.71$20.47
Growth rate-8%-8%
Number of jobs31,192116,010
Job satisfaction--
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 54%
Average age4646
Years of experience1212

What does a senior collection specialist do?

Senior collection specialists lead others by distributing and balancing workload, providing on-the-job training, and demonstrating proper work methods to employees. The specialists determine the most effective and economical means of collecting for each account, compose correspondence requiring knowledge procedure and practices in the collection, and apply standard due diligence practice to collect monies owed. They should have work leadership, know how to gather data, and analyze financial information for decision-making purposes. Also, they apply payments received to proper accounts and make necessary adjustments or corrections.

What does an account specialist do?

An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.

Senior collection specialist vs account specialist salary

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

Senior Collection SpecialistAccount Specialist
Average salary$45,150$42,586
Salary rangeBetween $33,000 And $61,000Between $28,000 And $62,000
Highest paying CityHartford, CTWashington, DC
Highest paying stateConnecticutVirginia
Best paying companyJPMorgan Chase & Co.Microsoft
Best paying industryHealth CareFinance

Differences between senior collection specialist and account specialist education

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

Senior Collection SpecialistAccount Specialist
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 54%
Most common majorBusinessBusiness
Most common college--

Senior collection specialist vs account specialist demographics

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

Senior Collection SpecialistAccount Specialist
Average age4646
Gender ratioMale, 40.4% Female, 59.6%Male, 32.2% Female, 67.8%
Race ratioBlack or African American, 12.3% Unknown, 4.0% Hispanic or Latino, 20.9% Asian, 3.5% White, 58.8% American Indian and Alaska Native, 0.5%Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior collection specialist and account specialist duties and responsibilities

Senior collection specialist example responsibilities.

  • Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
  • Work comp, MV cases, Medicare, Medicaid and commercial insurances.
  • Follow Medicare guidelines, posses knowledge of ICD and CPT coding, medical and reimbursement terminology, third party billing
  • Cross train fellow agents in store support and online product matrix, and train incoming agents in software and FDCPA guidelines.
  • Participate in the Medicaid conversion project.
  • Verify correct consumer provide disclosure to ensure compliance with FDCPA regulations.
  • Show more

Account specialist example responsibilities.

  • Cultivate productive long-term relationships with all assign accounts, and manage all reporting and presentation needs for RFP's.
  • Manage a portfolio of accounts end to end RFP program execution inclusive of pricing, contracting, process and technology solutions.
  • Manage the daily correspondence from assign practices with keeping doctor/patient confidentiality under consideration along with HIPPA regulations.
  • Deliver exceptional customer service to hospital accounts and internal sales representatives in accordance to revenue recognition policies and HIPAA regulations.
  • Experience with CMS 1500 and UB-04 claims using HCPC/CPT codes as well as NDC codes
  • Monitor CMS and real time aux codes.
  • Show more

Senior collection specialist vs account specialist skills

Common senior collection specialist skills
  • Portfolio, 9%
  • Customer Service, 8%
  • Past Due Accounts, 8%
  • Delinquent Accounts, 6%
  • Customer Accounts, 6%
  • Payment Arrangements, 5%
Common account specialist skills
  • Customer Service, 25%
  • Patients, 13%
  • Account Management, 6%
  • PowerPoint, 4%
  • Data Entry, 4%
  • Catheter, 3%

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