Billing Specialist Job Overview Billing specialists compile account statements, compute balances and record billing ...
Billing Specialist Job Overview
Billing specialists compile account statements, compute balances and record billing payments for a companies. They can also typically be responsible for preparing invoices for services rendered or for the delivery of goods. Other duties may include calculating interest, penalties and late fees for clients who are past due on their accounts. A billing specialist can expect to work daily with both paper forms and specialized computer programs when inputting and analyzing account information.
Billing Specialist Education
The typical billing specialist has a high school diploma, and nearly 38 percent of billing specialists have a bachelor's degree or higher in a related field. Having a college degree typically adds to the skill set, especially in the areas of advanced statistical analysis, modeling and computations. Most billing specialist jobs will include participation in short-term, on-the-job training to ensure compliance with company-standard billing practices.
In addition to experience with computer software and statistical analysis programs, knowledge of medical billing, medical terminology and medical coding procedures may help applicants gain a foothold in billing specialist jobs in hospitals or insurance companies.
Billing Specialist Job Market
Between 2012 and 2022, the national job market for billing specialists is expected to increase by 18 percent according to the Bureau of Labor Statistics. This increase in positions amounts to 187,800 jobs. The health care field, including the offices of physicians, hospitals, surgical centers and laboratories, will have the most job openings for billing specialists. Other fields of growth for billing specialists include accounting, tax preparation and bookkeeping services as well as corporate management.
Billing Specialist Salaries
The median annual salary for a billing specialist is $37,000. The top 10 percent of billing specialists can expect to earn a salary of $47,460 or more annually while the bottom 10 percent earn about $23,380 each year.