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Senior collection specialist vs collections coordinator

The differences between senior collection specialists and collections coordinators 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 a collections coordinator. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $37,938 average annual salary of a collections coordinator.

The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for a collections coordinator are customer service, patients, and phone calls.

Senior collection specialist vs collections coordinator overview

Senior Collection SpecialistCollections Coordinator
Yearly salary$45,150$37,938
Hourly rate$21.71$18.24
Growth rate-8%-8%
Number of jobs31,19240,113
Job satisfaction--
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 48%
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 a collections coordinator do?

Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.

Senior collection specialist vs collections coordinator salary

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

Senior Collection SpecialistCollections Coordinator
Average salary$45,150$37,938
Salary rangeBetween $33,000 And $61,000Between $30,000 And $47,000
Highest paying CityHartford, CTNew York, NY
Highest paying stateConnecticutConnecticut
Best paying companyJPMorgan Chase & Co.University of California, Berkeley
Best paying industryHealth CareProfessional

Differences between senior collection specialist and collections coordinator education

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

Senior Collection SpecialistCollections Coordinator
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 48%
Most common majorBusinessBusiness
Most common college--

Senior collection specialist vs collections coordinator demographics

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

Senior Collection SpecialistCollections Coordinator
Average age4646
Gender ratioMale, 40.4% Female, 59.6%Male, 26.6% Female, 73.4%
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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.8% Asian, 3.6% White, 59.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior collection specialist and collections coordinator 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

Collections coordinator example responsibilities.

  • Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
  • Manage accounts receivable/payment, insurance billing and follow-up for a solo physician clinic, and direct communication with patients regarding bills.
  • Audit outstanding accounts and resolve any balances including calling Medicare, Medicaid, government, private or commercial insurances.
  • Perform daily follow-up on Medicare, Medicaid, workers compensation and commercial insurances.
  • Hand illustrate fully render with marker and colore pencil sketches and Photoshop render drawings.
  • Submit insurance appeals and provider disputes when necessary.
  • Show more

Senior collection specialist vs collections coordinator 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 collections coordinator skills
  • Customer Service, 15%
  • Patients, 12%
  • Phone Calls, 6%
  • Collection Efforts, 4%
  • Delinquent Accounts, 4%
  • Appeals, 4%

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