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Hello all,
I'm a recent graduate of a prestigious school (liberal arts major) and I'm thinking about either going for a PhD and becoming a psychologist, or going for an MD and becoming a psychiatrist.
Now, according to the 2009 BLS report, a Psychiartist's median annual salary ($160,230) is more than twice as much as a Psychologist's median annual salary ($64,140); and the difference in length of education is only two years (for me at least, see below)...so it seems like Psychiatrist would be the obvious choice.
But, I'm not at all interested in conducting 15 minute medication management appointments, and I read in this 1998 WebMD article(http://www.webmd.com/mental-health/features/psychology-vs-psychiatry-which-is-better?page=2) that most health insurance plans won't even cover psychotherapy treatments from psychiatrists? Is that still true today? Is it going to be true post-health care reform?
I also read in the same WebMD article that psychiatrists only charge $5-$16 more for psychotherapy sessions (45-50 minutes) than psychologists. Is that still true today? Is it going to be true post-health care reform?
Thank you very much in advance for any help!
Best,
Jim
*Personal Education Paths:
Psychologist: masters (1-2 yrs), phd (6 yrs), licensing (1-2 yrs); total 8-10 yrs.
Psychiatrist: post-bacc (1-2 yrs), md (4 yrs), residency (4 yrs), fellowship (1-2 yrs); total 10-12 yrs.
I'm a recent graduate of a prestigious school (liberal arts major) and I'm thinking about either going for a PhD and becoming a psychologist, or going for an MD and becoming a psychiatrist.
Now, according to the 2009 BLS report, a Psychiartist's median annual salary ($160,230) is more than twice as much as a Psychologist's median annual salary ($64,140); and the difference in length of education is only two years (for me at least, see below)...so it seems like Psychiatrist would be the obvious choice.
But, I'm not at all interested in conducting 15 minute medication management appointments, and I read in this 1998 WebMD article(http://www.webmd.com/mental-health/features/psychology-vs-psychiatry-which-is-better?page=2) that most health insurance plans won't even cover psychotherapy treatments from psychiatrists? Is that still true today? Is it going to be true post-health care reform?
I also read in the same WebMD article that psychiatrists only charge $5-$16 more for psychotherapy sessions (45-50 minutes) than psychologists. Is that still true today? Is it going to be true post-health care reform?
Thank you very much in advance for any help!
Best,
Jim
*Personal Education Paths:
Psychologist: masters (1-2 yrs), phd (6 yrs), licensing (1-2 yrs); total 8-10 yrs.
Psychiatrist: post-bacc (1-2 yrs), md (4 yrs), residency (4 yrs), fellowship (1-2 yrs); total 10-12 yrs.
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