Growth Trends for Related Jobs
Many facilities rely upon the services of patient account representatives to collect payment from customers. These workers may be employed by hospitals, clinics or other facilities that provide care to patients. The account representative help the patient to understand the cost of services rendered.
Significance of the Position
Patient account representatives are responsible for reviewing a patient’s account to ensure that charges are accurate. The account representative may also collect the patient’s payment. In many cases, account representatives communicate with the patient’s insurance company to ensure services are approved for payment. They may assist the patient in applying for health care resources, such as Medicaid. In addition, the representative may also prepare and file patient reports and payment accounts.
Features of the Position
In the event a patient’s account is past due, the account representative is responsible for contacting the patient and attempting to collect payment, usually through by preparing letters requesting payment. The representative may also contact a collection agency or an attorney to help collect payment from the patient.
Education Required for Position
Most employers require account representatives to have a high school diploma, combined with at least two years of collection experience. A representative may also pursue an associate degree in business or take continuing education courses to become skilled in using word processing software.
Skills for the Position
Account representatives should be proficient in math, because they are required to perform calculations of patient accounts. They should also have good writing skills to be able to prepare memos, letters and other correspondence to patients and other employees. They must also have good verbal skills, allowing them to communicate thoroughly when explaining details of account charges to patients. Research skills are essential in helping to locate the correct contact information for patients who have overdue accounts. Representatives must also be familiar with medical terminology. Being bilingual is an advantage because account representatives will be interacting with people of many cultures.
Medical billing and posting clerks earned a median salary of $34,900 as of May 2030. Financial clerk positions are expected to grow 15 percent between 2012 and 2022.
2016 Salary Information for Financial Clerks
Financial clerks earned a median annual salary of $38,420 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, financial clerks earned a 25th percentile salary of $31,470, meaning 75 percent earned more than this amount. The 75th percentile salary is $47,230, meaning 25 percent earn more. In 2016, 1,440,400 people were employed in the U.S. as financial clerks.
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