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Senior collection specialist vs collector

The differences between senior collection specialists and collectors 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 collector. Additionally, a senior collection specialist has an average salary of $45,150, which is higher than the $34,872 average annual salary of a collector.

The top three skills for a senior collection specialist include portfolio, customer service and past due accounts. The most important skills for a collector are patients, customer service, and payment arrangements.

Senior collection specialist vs collector overview

Senior Collection SpecialistCollector
Yearly salary$45,150$34,872
Hourly rate$21.71$16.77
Growth rate-8%-8%
Number of jobs31,19223,948
Job satisfaction--
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 31%
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 collector do?

Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.

Senior collection specialist vs collector salary

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

Senior Collection SpecialistCollector
Average salary$45,150$34,872
Salary rangeBetween $33,000 And $61,000Between $27,000 And $44,000
Highest paying CityHartford, CTLos Angeles, CA
Highest paying stateConnecticutAlaska
Best paying companyJPMorgan Chase & Co.Uline
Best paying industryHealth CareFinance

Differences between senior collection specialist and collector education

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

Senior Collection SpecialistCollector
Most common degreeBachelor's Degree, 41%Bachelor's Degree, 31%
Most common majorBusinessBusiness
Most common college--

Senior collection specialist vs collector demographics

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

Senior Collection SpecialistCollector
Average age4646
Gender ratioMale, 40.4% Female, 59.6%Male, 36.0% Female, 64.0%
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, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior collection specialist and collector 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.
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Collector example responsibilities.

  • Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
  • Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
  • Provide excellent customer service while following HIPPA confidentiality laws.
  • Show more

Senior collection specialist vs collector 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 collector skills
  • Patients, 14%
  • Customer Service, 10%
  • Payment Arrangements, 10%
  • Excellent Interpersonal, 9%
  • Delinquent Accounts, 8%
  • Student Loans, 5%

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