July 19, 2010

Medical Collections Jobs are Booming

It may not be the happiest of things to post about, but let’s face it: With the economy still stagnating, there is one field that has seen a meteoric growth in the past few years – debt collection jobs.

Today I wanted to focus on what subset of their field that is a bit more specialized, Medical Debt Collection Jobs.

Skill Set?

In addition to all the job requirements of a typical job in consumer debt collection, medical debt collection requires preferred skills such as experience with insurance coding and claims processing, knowledge of Medicare and Medicaid provisions, as well as medical privacy (HIPPA) regulations, and the ability to read and understand insurance company Explanation of Benefits (EOB).

Past experience?

Interested in getting a job in medical collections? Most require a background in the healthcare industry or previous experience in medical billing, but the growing demand has caused the field to readjust its hiring practices. As a result, a growing number of openings are now available for entry-level candidates.

Pay range?

According to the Bureau of Labor and Statistics, medical debt collectors earn a median salary of $14.73 per hour. Those whose job duties include medical billing and coding earn more than the median range. Entry-level medical debt collectors typically earn $10 and $12 per hour.

Want to learn about the rapidly growing field of medical debt collection? Check out the JobMonkey’s newest section on debt collecting jobs.

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