Billing Specialist Salary
Billing Specialists in the United States take home an average $15.86 per hour. Total cash compensation for Billing Specialists runs from $27K to $50K depending on bonuses that can occasionally exceed $5K and profit sharing that can reach almost $3K. While geography and experience level impact pay for this group, the specific employer is the most influential factor. Although a strong majority have medical coverage and a majority have dental coverage, close to one-fourth claim no health benefits at all. Among survey respondents, women are more common than men; 90 percent of Billing Specialists are female. Most Billing Specialists report high levels of job satisfaction. The data for this snapshot was collected from individuals who took PayScale's salary survey.
|Salary||$30,138 - $56,553|
|Bonus||$302.83 - $4,842|
|Profit Sharing||$460.00 - $2,553|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$26,705 - $49,523|
|Hourly Rate||$12.47 - $20.93|
|Overtime||$18.88 - $33.66|
|Bonus||$302.83 - $4,842|
|Profit Sharing||$460.00 - $2,553|
|Total Pay (||$26,705 - $49,523|
Job Description for Billing Specialist
Billing specialists generally complete specific tasks related to a company’s billing and accounting needs; they are supervised by an office manager or billing manager. Day-to-day responsibilities of a billing specialists include preparing and submitting invoices through electronic or non-electronic means to ensure processing and payment; resolving issues related to payments by clients such as rejection or deduction analysis; and communicating with clients, legal staff, or others to coordinate revisions or adjustments for resubmission. Other responsibilities fielding questions from clients, clerical staff, and others; cooperating with the billing manager or office manager to ensure that their work adheres to the standards, guidelines, procedures, and deadlines set by the company; and preparing special documents as required by clients, attorneys, or managers. Billings specialists work in a normal office environment. Their hours depend on the company's needs, and this position may be part time or full time.Read More...
A high school diploma or GED is required for this position, but a bachelor's degree and experience in accounting or finance is preferred. Billing specialists work with a variety of individuals while dealing with collection and billing issues. As such, they need to have excellent personal skills to communicate effectively with clients, supervisors, attorneys, and assistants. They should possess superb computer skills, including a proficiency with Microsoft Outlook and Excel. A general knowledge of billing and collection practices, as well as business office procedures, is necessary. Experience operating a multi-line telephone system is preferred. Billing specialists need to be able to read, understand and follow oral and written instructions, while maintaining professional working relationships with clients, and employees.
Billing Specialist Tasks
- Manage customer accounts, collect payments, and update accounts to reflect changes.
- Work with customers to set up payment plans and ensure bills are paid.
- Answer customer questions about billing and resolve any errors.
- Submit customer insurance claims and process payments from insurance companies.
Common Career Paths for Billing Specialist
There are some Billing Specialists — though it's uncommon — that transition into Financial Analysts, where earnings are an average $55K annually. The most common next step for a Billing Specialist is to become a Billing Manager or a Billing Supervisor. The former position pays an additional $11K per year on average, and the latter position pays $7K more per year.
Popular Employer Salaries for Billing Specialist
Laboratory Corporation of America (LabCorp), Anmed Health, Ricoh Corporation, Parallon Business Solutions, and Community Health Systems are top-notch employers for Billing Specialists in this area. Ricoh Corporation leads the field in terms of pay, with a median salary of $43K.
Popular Skills for Billing Specialist
Billing Specialists report using a large range of skills on the job. Most notably, skills in Accounting, Data Analysis, Accounts Receivable, and Microsoft Office are correlated to pay that is above average. At the other end of the pay range are skills like Insurance, Medicaid Billing, and Medical Coding. Most people experienced in Billing also know Medicaid & Medicare Billing and Collections. Most people experienced in Accounts Receivable also know Collections and Medicaid & Medicare Billing.
Pay by Experience Level for Billing Specialist
Pay by Experience for a Billing Specialist has a positive trend. An entry-level Billing Specialist with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 1,222 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Billing Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $36,000 based on 669 salaries. An experienced Billing Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $38,000 based on 643 salaries. A Billing Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $40,000 based on 212 salaries.
Pay Difference by Location
Los Angeles offers some of the highest pay in the country for Billing Specialists, 28 percent above the national average. Billing Specialists can also look forward to large paychecks in cities like New York (+22 percent), Philadelphia (+20 percent), Chicago (+16 percent), and San Diego (+10 percent). Those in the field find the lowest salaries in San Antonio, 11 percent below the national average. Employers in Indianapolis and Pittsburgh also lean toward paying below-median salaries (9 percent lower and 2 percent lower, respectively).
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