No.
These were not including facility fees.
You have learned well grasshopper...
Yes, that’s why the average psychiatrist makes 270k because it’s very possible to make 1k per hour
Yes, you've made this very clear. Over and over and over and over...
Yeah I know what the averages say. I am just trying to reconcile that with the rates posted above and this didn't help very much. Thanks though.
Im just telling you what fair health reports. You can draw your own conclusions.
The obvious conclusion is that those rates are being paid to a big box shop that has the volume to negotiate those payments. They pay the psychiatrist a pittance of that money and the rest goes to the yachts and pointy shoes of the private equity parasites that always find their way between doctors and dollars.
Psych is definitely booming but payment varies a lot depending on negotiations skills.
negotiate a minimum number of hours to be paid regardless (8-10) then get paid extra if you work over
What about on call fees? Is that negotiated separately?
yes or so i hear from locums friends 300-500/call night
Telehealth or in person?
Are you doing all outpatient to make that amount?
Telehealth outpatient yes, the platform I use allows me to see patients at odd hours. I work about 70 hours a week total(35 for my training program, the rest moonlighting) so do pull long days to make that money. However I did the math and there is no reason why I can make 600k working 50hours/week. Thats not even including higher paying private patients. I am doing alot of training in psychoanalysis and other therapy, there is a paucity of psychiatrists willing to do med management+therapy and wealthy cash patients tend to be a discriminating bunch wanting to pay for higher credentials than a simple therapist.
Would you mind sharing what platform/company you are working with? Feel free to DM if that is better for you. Thx.
I'm not sure this is true. Wealthy people are often wealthy because they are cheap. A lot of wealthy people want to use their insurance for their medical care just like everyone else, and will often see psychologists or even masters level therapists. And many psychologists (at least in my area) charge more than psychiatrist do. Cash patients fall into 2 categories - those that pay out of necessity (e.g. cannot access a particular specialist otherwise or cannot access timely care) or those that value spending money on their health and wellbeing. That latter category is not necessarily wealthy. I have several pts who I see for therapy only (they either don't need meds or see another psychiatrist for their meds, often through insurance) who are happy to pay out of pocket for therapy with me because they place value on that (even though some of them could see someone competent for less than half the price). None of them would be considered wealthy (in fact one of my such patients was effectively homeless). I recently had one patient tell me they were happy to spend the over 2k for an initial consult with me as they had nothing else to spend the money on.
And some lucky people got to do both at the same darn time with Freud!
Ask for a raise every year at the minimum - and any time new responsibilities are being added. If increased money is refused, then negotiate other factors (i.e. protected time, call, etc).
Agreed this 100%. It helps if you are part of a group. The thought of losing 4-5 psychiatrists over a pay dispute makes most organizations pony up extra cash. Replacing 1 shrink is a pain in the ass, replacing 5 could take a year.
Yea there is alot of truth in here. The private practice model I was referring to took these two individuals 3-4 years to build and is in a wealthy metro. They both work via referral/word of mouth. This would not work in much of the country.
