Zyprexa100
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I was recently offered $275 and $265 in the Midwest. Made me question my previous hourly reimbursement as I have been paid less. Looking forward to hearing your numbers.
These are 1099 rates for outpatient and some partial programs. Not locums.Is this locums? Those sound like private practice rates from commercial insurance that you'd have to deduct all overhead from.
Best I've heard for outpatient hourly is $225/hr for 1099. Typical employed salary is 250-300, so hourly would be in the 125-150 range, plus benefits, malpractice, no overhead etc.
If the workload of the programs is reasonable these are good numbers. If you work 30 hours a week at 265 and work 46 weeks a year it's north of $360K.These are 1099 rates for outpatient and some partial programs. Not locums.
Midwest good metro or midwest cornfield?I was recently offered $275 and $265 in the Midwest. Made me question my previous hourly reimbursement as I have been paid less. Looking forward to hearing your numbers.
makes sense, ive seen absurd rates for midwest jobs in less than desireable locations. Back when I initiatially started looking for jobs a while ago, this place in minnesota was offering around 450k a year and around 45 PTO days off with half day friday. But it was a tiny town in minnesota and didnt sound super appealing to live there.In the middle of nowhere. Big organizations with money but can not find people to hire.
makes sense, ive seen absurd rates for midwest jobs in less than desireable locations. Back when I initiatially started looking for jobs a while ago, this place in minnesota was offering around 450k a year and around 45 PTO days off with half day friday. But it was a tiny town in minnesota and didnt sound super appealing to live there.
3 is a lot different than 4 per hour. Unless it's worried well or you have great support staff this job will suck3-4 patients per hour. No NP. In the middle of nowhere. Big organizations with money but can not find people to hire.
Totally forgot since it was a long long time ago, back when I was initially looking for my first attending job. I talked to the recruiter about it, but when i googled the weather I quickly gave up on it, lolOut of curiosity, what town in MN?
Totally forgot since it was a long long time ago, back when I was initially looking for my first attending job. I talked to the recruiter about it, but when i googled the weather I quickly gave up on it, lol
That's reasonable pay for the work, too many patients in a bad place is not ideal for me, but I can see someone wanting to grind that out to pay off loans when they are young or something akin to that. If you happen to want to live in a frozen tundra, then it would certainly be something to consider.3-4 patients per hour. No NP. In the middle of nowhere. Big organizations with money but can not find people to hire.
Is that after practice expenses? That is not good. Even medicare pays over $450 for 2 f/u visits in my area.The best paying insurance in my large Metro area generates our recent grads somewhere around 350- 375 an hour when primarily billing 214 and therapy add-on at two per hr.
Is that after practice expenses? That is not good. Even medicare pays over $450 for 2 f/u visits in my area.
Is that after practice expenses? That is not good. Even medicare pays over $450 for 2 f/u visits in my area.
Is that after practice expenses? That is not good. Even medicare pays over $450 for 2 f/u visits in my area.
Medicare is supposed to be the floor of what we accept. And you said best paying insurance, not worst paying. The best paying should be at leAST 30-50% more than Medicare rates. Also bear in mind that big healthcare systems typically negotiate 3x Medicare rates with PPO plans.That is before. My understanding was medicare often pays more than private though
99214+90833 is what they were talking aboutJust for two 99214s?
Medicare is supposed to be the floor of what we accept. And you said best paying insurance, not worst paying. The best paying should be at leAST 30-50% more than Medicare rates. Also bear in mind that big healthcare systems typically negotiate 3x Medicare rates with PPO plans.
99214+90833 is what they were talking about
Yeah I do know the big health systems get a lot more than single practitioners do.
But "should" and reality are often different. We should get more than medicare, but is this actually common?
Excuse my bluntness, but this sounds terrible. At 3 per hour, it is marginal/below average - $88ish per patient. At 4 patients, you will likely burn out in time while making a mere $66ish per patient. On top of all this, I surmise that this organization pushing up to 4 visits per hour doesn't care about quality. They are also unlikely to care about you and your well being while pushing you this hard. Hey pal, please steer clear of this.3-4 patients per hour. No NP. In the middle of nowhere. Big organizations with money but can not find people to hire.
Yes, if the best paying insurance is worse than CMS, you’re getting screwed pretty bad. Where I’m at 2 f/ups with 214 + 99803 is ~380/hr, and that’s only because we have one of the worst reimbursement rates for 99803 nationally (<$70).
So if one is getting CMS rates of $450/hr for 2 patients as mentioned by a previous poster, how are private practice outpatient psychiatry salaries not higher? At $450 x 30 patient hours x 46 weeks a year your revenue is 620k. With the heavy reliance on telehealth these days, it shouldn't be hard to minimize office space to 1-2 days a week. EMR, malpractice, billing, and maybe a few other minor things, overhead shouldn't be too bad. How is your average outpatient psychiatrist not bringing home 5-550k a year working 30 hours a week?
Don’t think most individual/small group PPs are negotiating rates like this. There are also costs of insurance, other staff, etc but yes in theory if you fill up a PP at those rates, consistently use therapy add-on codes and minimize overhead you can do pretty well.
The above poster mentioned the best insurances are paying single practitioners at or above CMS rates. I agree, I don't think that's common but the way he worded it, it seemed as though he was indicating that is commonplace.
I'm sure geography comes into play. Some of the states where they are good paying insurances include OR, WA, NE, and WI. FL and NY sound terrible.Yeah I do know the big health systems get a lot more than single practitioners do.
But "should" and reality are often different. We should get more than medicare, but is this actually common?
This is based on f/us for 99214+90833 in high expense locales. Probably closer to 400/hr in general. You are obviously going to have new pts which is much less (more like $250), and pts who are 99214 only, and probably some 99213 or 99215. You might have pts turn up late. Then you have to factor in no-shows, pt non-payment, non-reimbursement from insurance, claim errors etc. Also bear in mind 30 hours of pts is going to be 40 hours or more of practice. So full time. Most people are doing 20-25 pt hours.So if one is getting CMS rates of $450/hr for 2 patients as mentioned by a previous poster, how are private practice outpatient psychiatry salaries not higher? At $450 x 30 patient hours x 46 weeks a year your revenue is 620k. With the heavy reliance on telehealth these days, it shouldn't be hard to minimize office space to 1-2 days a week. EMR, malpractice, billing, and maybe a few other minor things, overhead shouldn't be too bad. How is your average outpatient psychiatrist not bringing home 5-550k a year working 30 hours a week?
How do you negotiated rates with insurance? My biller doesn’t do it and doesn’t know anyone who can helpI'm sure geography comes into play. Some of the states where they are good paying insurances include OR, WA, NE, and WI. FL and NY sound terrible.
A lot of psychiatrists don't negotiate rates and accept crappy reimbursement.
But the data suggests that office based practices should be getting about 46% more than medicare from commercial insurance though there is a wide variation. I would not accept less than medicare unless you have some compelling reason to do so.
This is based on f/us for 99214+90833 in high expense locales. Probably closer to 400/hr in general. You are obviously going to have new pts which is much less (more like $250), and pts who are 99214 only, and probably some 99213 or 99215. You might have pts turn up late. Then you have to factor in no-shows, pt non-payment, non-reimbursement from insurance, claim errors etc. Also bear in mind 30 hours of pts is going to be 40 hours or more of practice. So full time. Most people are doing 20-25 pt hours.
But yes, the average private practitioner should be doing quite well for themselves and in fact they are.
This is a great question. I personally don't bill insurance for services and am therefore largely ignorant, but many of do bill insurance and are left to navigate uncharted terrain without a compass.How do you negotiated rates with insurance? My biller doesn’t do it and doesn’t know anyone who can help
This is a great question. I personally don't bill insurance for services and am therefore largely ignorant, but many of do bill insurance and are left to navigate uncharted terrain without a compass.
If everyone negotiated aggressively, our going rates would be higher because then the low hanging fruit for insurance to prey upon would be lousy psychiatrists, not the good ones who just happen to be naive to reimbursement and negotiation.
Could someone knowledgeable please create a post with a good primer on insurance negotiating 101?
So if one is getting CMS rates of $450/hr for 2 patients as mentioned by a previous poster, how are private practice outpatient psychiatry salaries not higher? At $450 x 30 patient hours x 46 weeks a year your revenue is 620k. With the heavy reliance on telehealth these days, it shouldn't be hard to minimize office space to 1-2 days a week. EMR, malpractice, billing, and maybe a few other minor things, overhead shouldn't be too bad. How is your average outpatient psychiatrist not bringing home 5-550k a year working 30 hours a week?
Will a billing company do this? Aren't they around 7% or so?Splik already brought up many points, but also keep in mind you’re calculating GROSS income, after paying for all overhead, advertising, employees, etc that’s going to be a very different number in most cases. Also, keep in mind that if you’re private and employed you’re only keeping a percent of that. I know plenty of outpatient psychiatrists making $350k. At a 70/30 split they’re bringing in $500k, which is pretty much what you calculated.
Keep in mind, many who own a practice may have significant amounts of uncollected charges. Unlike CMS, getting insurance to actually pay can be a major hassle. To collect what you’re actually billing often requires significant time on the phone chasing down charges or hiring someone to do that for you. So either add more than a few hours per week or cut into your bottom line significantly.
Yes. As for fees, I've heard percentages from 6-11%, depending, but mine charges 7.Will a billing company do this? Aren't they around 7% or so?
Can we talk about overhead for a minute?
A largely tele practice could probably get away renting an office one day a week. Add in emr, malpractice, miscellaneous expenses and aren't we looking at something fairly minimal? Someone bringing in 600k in gross really shouldn't be paying more than 10-12% a year max assuming no employee, which probably isn't needed for a practice like this.
People have questions about scheduling new evals, med side effects, hospitalization questions, rescheduling, request updates on PA’s, need paperwork filled out, refills, directions (lost), help for referrals, record requests, etc.
My #1 cause for negative reviews online is not answering all live calls immediately. Even with 1+ staff answering calls, you’ll have times when multiple people call within the same time frame. Enough bad reviews and your referral rate will decrease. This effects your ability to stay busy to reach your desired pay.
This is an impossible goal. You can not do everything alone. Blaming yourself is going to lead to burnoutMy training program was very OCPD about running clinic on time. There were no excuses for running late, even if I had to hospitalize a patient. It was always the resident's fault if clinic ran late. We were also expected to do almost all the secretarial work too. I used to think it was unreasonable, but now I appreciate it because it forced me to examine logistics of clinic, and implement processes and policies to set expectations and keep things running smoothly.
There's nothing new. A handful of clinic issues consistently pop up, and anything that consistently happens can be addressed at a process level.
New patients always lost? Maybe I have to take into account how difficult it is to find the clinic or traffic/delays/parking issues. Maybe I need to have all news come in 15-20 min prior to actual appointment. If new patients still can't make it on time in this day and age of GPS, well sorry, my established patients absolutely love they are seen on time and don't have to wait an hour. Perhaps one of the many clinics that always run 45-60 min late is better for them, here's a list of their phone numbers.
Tons of calls about med side effects? Well, it's my fault I didn't properly explain the most common side effects to expect and the most serious effects for which they should go to to ER.
Too many PAs? Maybe I'm writing too many new branded meds. Maybe I haven't explained insurance probably won't pay. Maybe I haven't told them their 20 prior meds didn't work because they need therapy, not another new med.
Paperwork? No.
Referral requests? I have a list of resources and specialists in the community.
Too many calls? Well, maybe I need to explain my policy for returning calls, how soon I will return nonurgent calls, how much notice I require for refills or whether I refill outside of apppointments.
Answering all live calls immediately is an unreasonable expectation. It probably takes them 15+min on hold to get speak to a receptionist at their PCP's/cardiologist's/oncologist's office.
Maybe bad reviews will decrease referrals. Then again, there seem to be many psychiatrists who plow through tons of patients, are unfazed by complaints or bad reviews, and still make tons.
My training program was very OCPD about running clinic on time. There were no excuses for running late, even if I had to hospitalize a patient. It was always the resident's fault if clinic ran late. We were also expected to do almost all the secretarial work too. I used to think it was unreasonable, but now I appreciate it because it forced me to examine logistics of clinic, and implement processes and policies to set expectations and keep things running smoothly.
There's nothing new. A handful of clinic issues consistently pop up, and anything that consistently happens can be addressed at a process level.
New patients always lost? Maybe I have to take into account how difficult it is to find the clinic or traffic/delays/parking issues. Maybe I need to have all news come in 15-20 min prior to actual appointment. If new patients still can't make it on time in this day and age of GPS, well sorry, my established patients absolutely love they are seen on time and don't have to wait an hour. Perhaps one of the many clinics that always run 45-60 min late is better for them, here's a list of their phone numbers.
Tons of calls about med side effects? Well, it's my fault I didn't properly explain the most common side effects to expect and the most serious effects for which they should go to to ER.
Too many PAs? Maybe I'm writing too many new branded meds. Maybe I haven't explained insurance probably won't pay. Maybe I haven't told them their 20 prior meds didn't work because they need therapy, not another new med.
Paperwork? No.
Referral requests? I have a list of resources and specialists in the community.
Too many calls? Well, maybe I need to explain my policy for returning calls, how soon I will return nonurgent calls, how much notice I require for refills or whether I refill outside of apppointments.
Answering all live calls immediately is an unreasonable expectation. It probably takes them 15+min on hold to get speak to a receptionist at their PCP's/cardiologist's/oncologist's office.
Maybe bad reviews will decrease referrals. Then again, there seem to be many psychiatrists who plow through tons of patients, are unfazed by complaints or bad reviews, and still make tons.
Largely agree, wife makes it clear she has no staff so there will never be a way to call and all messages have to go through the patient portal. No real complaints so far but it only works when you're the only Psychiatrist in town I'd think. Since she's really the only one referrers are aware and let their clients know before they refer.You want to stay busy enough to hit $600k but have 0 staff? People have questions about scheduling new evals, med side effects, hospitalization questions, rescheduling, request updates on PA’s, need paperwork filled out, refills, directions (lost), help for referrals, record requests, etc.
I’d expect to spend hours of uncompensated time every day on these tasks. No one answered about directions (you were seeing a patient at the time). Now the patient is 20 min late. Do you accept the blame and give them a free follow-up, blame them for not having better navigational skills (maybe negative online reviews), or get behind on all patients that day? Many of these types of issues can result in more uncompensated time.
My #1 cause for negative reviews online is not answering all live calls immediately. Even with 1+ staff answering calls, you’ll have times when multiple people call within the same time frame. Enough bad reviews and your referral rate will decrease. This effects your ability to stay busy to reach your desired pay.
You can certainly try but I think you'll find you fill much much slower tele-only. The wife would probably have less than half the panel she has now if she was tele-only. The folks that we've seen who are tele-only are getting multiple state licenses because they're have significant difficulty filling (and by filling I mean 24-30 clinical hours).So what I'm hearing is forget in person and go tele (or 95% if the laws change and re-require very periodic in person visits for some patients)
I hear your point. However, waiting lists are months long. Are people really going to opt for a mid level or just sit on a waiting list to be seen in person rather than seeing an actual MD/DO via tele right now who also happens to take their insurance? I mean, the big telepsych companies are cashing in on the stay at home crowd.You can certainly try but I think you'll find you fill much much slower tele-only. The wife would probably have less than half the panel she has now if she was tele-only. The folks that we've seen who are tele-only are getting multiple state licenses because they're have significant difficulty filling (and by filling I mean 24-30 clinical hours).
If you take insurance tele might be more acceptable, I really don't know. I can only say what we've seen and it seems like a lot of the folks doing tele with multiple licenses live in CA (which is where I think you wanted to live/practice if I remember correctly). Insurance companies are starting to reimburse less for tele-only appointments as well though that seems to be state dependent. If CA allows them to pay less for tele-only make sure to factor that into your equation as well.I hear your point. However, waiting lists are months long. Are people really going to opt for a mid level or just sit on a waiting list to be seen in person rather than seeing an actual MD/DO via tele right now who also happens to take their insurance? I mean, the big telepsych companies are cashing in on the stay at home crowd.