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Surety bond agent vs insurance verification specialist

The differences between surety bond agents and insurance verification specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a surety bond agent has an average salary of $37,289, which is higher than the $33,043 average annual salary of an insurance verification specialist.

The top three skills for a surety bond agent include surety, bonds and customer service. The most important skills for an insurance verification specialist are patients, insurance verification, and customer service.

Surety bond agent vs insurance verification specialist overview

Surety Bond AgentInsurance Verification Specialist
Yearly salary$37,289$33,043
Hourly rate$17.93$15.89
Growth rate6%6%
Number of jobs28,69071,688
Job satisfaction--
Most common degreeBachelor's Degree, 42%Associate Degree, 27%
Average age4646
Years of experience--

Surety bond agent vs insurance verification specialist salary

Surety bond agents and insurance verification specialists have different pay scales, as shown below.

Surety Bond AgentInsurance Verification Specialist
Average salary$37,289$33,043
Salary rangeBetween $22,000 And $61,000Between $28,000 And $37,000
Highest paying City-Madison, WI
Highest paying state-New Hampshire
Best paying company-St. Luke's Cataract & Laser Institute
Best paying industry-Pharmaceutical

Differences between surety bond agent and insurance verification specialist education

There are a few differences between a surety bond agent and an insurance verification specialist in terms of educational background:

Surety Bond AgentInsurance Verification Specialist
Most common degreeBachelor's Degree, 42%Associate Degree, 27%
Most common majorBusinessHealth Care Administration
Most common collegeHoward UniversityUniversity of Pennsylvania

Surety bond agent vs insurance verification specialist demographics

Here are the differences between surety bond agents' and insurance verification specialists' demographics:

Surety Bond AgentInsurance Verification Specialist
Average age4646
Gender ratioMale, 53.9% Female, 46.1%Male, 11.4% Female, 88.6%
Race ratioBlack or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.8% White, 66.6% American Indian and Alaska Native, 0.1%Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1%
LGBT Percentage7%7%

Differences between surety bond agent and insurance verification specialist duties and responsibilities

Surety bond agent example responsibilities.

  • Manage employees, handle complaints, employee scheduling, and payroll.
  • Maintain accuracy in calculating interest and commissions on surety bonds.
  • Process all bonds, error free, as necessary and where power of attorney is granted.
  • Conduct surety education sessions for sales and production staff
  • Operate remote telecommunications using applications and secure computer communications to troubleshoot and resolve issues on customer Samsung devices.
  • Help clients with changes require to their bond in a quick and timely manner.
  • Show more

Insurance verification specialist example responsibilities.

  • Check CPT and ICD-10 codes with LCD and policies from multiple insurance companies to make sure procedures will be paid.
  • Support the patient privacy/confidentiality policies and regulations under HIPAA for patients and their medical records.
  • Confirm correct charges base on HCPCS codes.
  • Assist callers as well with questions about their benefits, terms and conditions of medical plans, appeals and grievances.
  • Provide medical record support in the absence of EMR: assist clinics and hospitals in obtaining medical records in appropriate format.
  • Document outbound communication from providers and veterans.
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Surety bond agent vs insurance verification specialist skills

Common surety bond agent skills
  • Surety, 39%
  • Bonds, 25%
  • Customer Service, 20%
  • Court Appearances, 9%
  • Court Dates, 7%
Common insurance verification specialist skills
  • Patients, 25%
  • Insurance Verification, 15%
  • Customer Service, 7%
  • Insurance Eligibility, 5%
  • Data Entry, 4%
  • Medical Terminology, 4%