Billing specialists work for companies and make financial calculations related to goods and services. They usually have great mathematical skills and are detailed oriented individuals. These careers will usually earn someone over $39,000 a year.
Detail-oriented people who like math and want to work in an office environment might find a job as a billing specialist interesting. Billing specialists, sometimes referred to as billing or cost clerks, work in the accounts payable, accounts receivable, or general business department of a company. They calculate amounts due for goods or services, prepare outgoing bills and address discrepancies. Employers usually require that billing specialists have a high school diploma and those with medical billing specialist training and skills generally earn higher salaries.
|Required Education||High school diploma or GED|
|Additional Skills||Math, clerical, computer and business machine skills; customer service|
|Projected Job Growth (2018-2028)*||10% for billing and posting clerks|
|Average Salary (2018)*||$39,520|
Source: *U.S. Bureau of Labor Statistics
According to the U.S. Bureau of Labor Statistics (BLS), billing and posting clerks, including billing specialists, earned an average annual salary of $39,520 as of May 2018 (www.bls.gov). The BLS also reported that as of May 2018, billing specialists working in personal care services were paid the highest annual average wage of $52,140, followed by those working in the natural gas distribution industry, with an annual average wage of $50,860.
Billing specialists are generally entry-level jobs. Most employers require that billing specialists hold a high school diploma and are at ease with computers and business machines. They may offer on-the-job training. The U.S. Department of Labor's O*NET OnLine reports that solid mathematical skills are also generally required, along with clerical and customer service skills (online.onetcenter.org).
Billing specialists need to be able to review account information and records related to goods or services, organize and prepare invoices, and maintain files. They should have the ability to work well with colleagues in their own and other departments as well as with customers.
As the volume of billings increases, especially in regard to the healthcare industry, the BLS estimated that billing specialist jobs will increase as well. In May 2015, Delaware, New Jersey, and Kentucky reported the greatest concentrations of working billing specialists, and the District of Columbia, Alaska, and Connecticut reported the highest average salaries for billing specialists, according to the BLS.
Medical Billing Specialists
Using their specialized knowledge of medical coding and insurance reimbursement procedures, medical billing specialists are employed by hospitals, clinics, doctors' offices, insurance companies, and medical billing service companies. Medical billing specialists typically take a year or less to complete certificate training that includes medical terminology, medical billing software and procedures, and medical coding. According to the BLS, the average annual salary of billing and posting clerks working in physician's offices or general medical and surgical hospitals was over $39,000 as of May 2018.
Generally, a billing specialist needs to have a high school diploma, but medical billing specialists often need a postsecondary certificate. In addition to various math, customer service and clerical skills, workers should know how to effectively communicate and be computer literate. Salaries vary by location and industry, but most billing and posting clerks made about $39,000 per year, and they were projected to see a 10% rise in employment through 2028.