Business Ideas For Psychologists

[PsychEval]

I would like to see people list a variety of different business ideas for psychologists, as practical or crazy as you can imagine. To get the thread started, I have thought of a few:


1. Tobacco education clinic for minors caught using tobacco in a diversion program. Court ordered, Cash Only.
2. Utilization Review of records for an insurance company to determine medical necessity of assessment and treatment.

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[50960]

Elective surgery evaluations. I have done GBS evals, but I am sure this could be done with all sorts of procedures to help cover the surgeon...plastic surgery etc..

 

[Allotheria]

Elective surgery evaluations. I have done GBS evals, but I am sure this could be done with all sorts of procedures to help cover the surgeon...plastic surgery etc..

Yep, I've done these as well. Good experience...

 

[PublicHealth]

Forensic neuropsychology. $250+/hour, 15+ hour evaluations. Fee-for service.

 

[PublicHealth]

Neuropsychologists working for "big pharma." Cognitive-enhancing drugs are a "hot" market. Neuropsychologists are best trained to assess cognitive effects of these drugs.

 

[Sanman]

Two ideas that I've considered:

1. Opening a clinic dealing with educational disorders. Not simply doing evaluations, but treaments, helping individuals navigate the school system, look at possible vocations that work towards their strengths and allow them to hold down jobs, possibly even aid in getting legal representation if there are problems with the school district.
2. Opening a spa/mental health retreat, possibly focussing on treating business executives/ management teams, and focusing on reducing stress, living a healthy lifestyle, maybe team communication/trust issues, etc.

 

[PsychEval]

Executive mental health. Take on only 60 top tier patients. Have them sign one year contracts at $3,000 / year for comprehensive services. Total $180,000 per year. Pt’s have your pager number, and can reach you 24/7. Be highly responsive. Provide various services as needed, i.e. executive coaching, psychological testing to determine strengths and areas needing improvement, on call services for anxiety, depression, etc, motivational interviewing, peak performance, evaluate and provide feedback related to pt’s public speaking abilities, improve coping skills, decrease health compromising behaviors, strategies for being successful at work and with the family, etc. Sell them on the idea that nothing gets turned in to managed care, no 3rd party looking at a diagnosis, no 3rd party interfering or dictating treatment or evaluating for medical necessity, etc. Confidentiality extremely important.

 

[Annakei]

Two ideas that I've considered:
2. Opening a spa/mental health retreat, possibly focussing on treating business executives/ management teams, and focusing on reducing stress, living a healthy lifestyle, maybe team communication/trust issues, etc.

I was thinking about this exact business idea as I was searching for a spa/mental health retreat. The key factors for me were having a therapist, life coach and massage therapist on hand to address mind, body and soul issues. This idea would be great for folks that work with a trauma populations such as myself who have great propensity to experience vicarious traumatization.

Incorporating massage therapy with psychotherapy at the same time is a great idea. Massage therapy may serve to ease the physical symptoms of depression and anxiety while at the same time doing "talk therapy". However, at most of these sites that Ive researched, they have masters level practioners with a sprinkling of doctoral level psychologists. Still, I would not be opposed to seeing a MA level practioner at a retreat such as this.

Here are some examples of what I found earlier today:

http://www.beaumondeprograms.com/

www.dctherapeutics.com

http://www.mandalaretreat.com/

 

[PublicHealth]

Check out this joint: http://boswellcenter.com/

 

[LM02]

Here are a few additional "executive" or spa/retreat programs:

The Retreat at Westchester (Cornell U.):
http://wo-pub2.med.cornell.edu/cgi-...ebsite=nyp+psych&wosid=qamnDojJEqlJGdAUYlE2xw

Duncan Lodge (Brown U.):
http://www.duncanlodge.org/

Rumor has it that a similar program is in the works at Mt. Sinai.

 

[Sanman]

In the interest of jumpstarting the conversation, what do people think about biofeedback and incorporating it into practice? Is it worth it business wise? Does it work on conditions like ADD?

 

[PublicHealth]

In the interest of jumpstarting the conversation, what do people think about biofeedback and incorporating it into practice? Is it worth it business wise? Does it work on conditions like ADD?

Biofeedback is "probably efficacious" in treating ADHD according to these reviews:

http://www.ncbi.nlm.nih.gov/entrez/...d&dopt=Abstract&list_uids=16013783&query_hl=2

http://www.ncbi.nlm.nih.gov/entrez/...d&dopt=Abstract&list_uids=16083395&query_hl=2

http://www.ncbi.nlm.nih.gov/entrez/...d&dopt=Abstract&list_uids=15723361&query_hl=2

Biofeedback is also used to treat chronic pain (e.g., http://www.ncbi.nlm.nih.gov/entrez/...dopt=Abstract&list_uids=16012938&query_hl=16; http://www.ncbi.nlm.nih.gov/entrez/...dopt=Abstract&list_uids=15841710&query_hl=16), and phantom limb pain (e.g., http://www.ncbi.nlm.nih.gov/entrez/...d&dopt=Abstract&list_uids=15889588&query_hl=8)

 

[PsychEval]

I recently saw a new personal biofeedback device in the monitor, at: www.stresseraser.com
Interesting, and kind of cool looking (James Bond like). But, I probably wouldn’t buy it. The research I have read indicates biofeedback may be no more effective than relaxation training for most chief complaints. However, there is some evidence biofeedback is the treatment of choice for fecal incontinence and Raynaud’s Disease (two conditions I do not see much of).


During the California Gold Rush, the ones who became the wealthiest were those who sold the gloves, shovels, tents, etc, not the ones looking for the gold.

 

[PsychEval]

Fit for duty evaluations, police officers in trouble, etc.

 

[PublicHealth]

Forensic evaluations are a hot area that pays well, particularly for neuropsychologists evaluating personal injury and worker's compensation cases. Sports neuropsychology (concussion evaluation and management) is also an up-and-coming area. Quite a bit of psychological evaluation work for federal agencies as well (e.g., CIA, FBI).

 

[lazure]

What about child, adolescent and family oriented private practice? I know some practitioners specialize in ADHD, learning disabilities etc. but I'd prefer to keep more variety so it doesn't get boring...
How many psychologists still do family therapy?

 

[PsychEval]

In the interest of jumpstarting the conversation, what do people think about biofeedback and incorporating it into practice? Is it worth it business wise? Does it work on conditions like ADD?

I got distracted with efficacy (scientist/practitioner background) and forgot to answer the question. I think biofeedback could be a money maker. Patient profiling a little, but ambitious, highly driven, hard working, professionals who want to learn how to turn off a stress response and learn how to turn on a relaxation response packaged more concretely (biofeedback device) than deep breathing alone may be strongly interested. This style likely would cause relationship problems, i.e. no one is functioning at their pace, lets go, lets go, lets go…. Not a bi polar, but more of a hyperthymia needing relaxation training.

 

[PsychEval]

What about child, adolescent and family oriented private practice? I know some practitioners specialize in ADHD, learning disabilities etc. but I'd prefer to keep more variety so it doesn't get boring...
How many psychologists still do family therapy?

Plenty. However, some insurance plans cover family therapy, some do not. The insurance plans that do not cover family therapy are not saving any money, and in fact it cost them more money. This is because the Psychologist ends up seeing the whole family (4 people or so) individually. Consequently, this costs the insurance company/employer 4 times as much. Obviously, those who have fee for service practices do whatever they want. That is, the relationship is between the doctor and the family, no managed care interference. This is why many psychologists are concerned about the medicalization of psychology. Partner Relational Problem is not a disease, and thus does not fit into a medical model.

 

[psychgeek]

[/B]

Plenty. However, some insurance plans cover family therapy, some do not.

I know some psychologists also manage to do family therapy by billing insurance for one of the members and having the rest of the family attend the "individual 😉 " sessions. This is probably illegal or something, but I don't think anyone would ever get busted for it.

A couple of other ideas I've tossed around.

1) Designing mental health screening programs for non-clinical settings like schools or state agencies (Dept. of Human Services, Dept. of Child and Family Services, The Public Guardian's Office, etc).

2) Doing the same thing as #1 for private practice primary care physicians and adding decision rules for referral and contracted availability for phone or e-mail consultation.

3) Contracting with small private schools or groups of home schooled kids to provide academic testing (in groups of course), academic advising, and crisis counseling.

 

[twiggers]

This would probably be more towards I/O
1) Focusing on large businesses which require a variety of different "levels" of people to interact on a daily basis
an example would be a mid-sized law firm of 50-60 lawyers, that interact with paralegals/secretaries who in turn interact with admin people, and then HR overseeing everyone. Lots of stress, gossip, cliques, etc. form in these types of offices.

WOuld be nice to have someone coming in 1-2 times per year to hold small seminars to suggest ways to work together, avoid the BS of office politics (or how to effectively deal with them), etc.

Each day you could charge 1-2K, plus travel expenses if necessary (for several 1-2 hour seminars held in one day, max. of say 60 employees per day...10-20 people per seminar...so if a firm had 300 employees you could break it up over several days), twice per year. Potentially you could have around 100 clients to keep you super busy (that would be around 200 days per year..still leaves 165 days for vacation, preparation, conferences, etc...even after weekends you're still left with around 60 days dead time). At 1 K that averages around 200K per year, or at 2K 400,000 per year.

Hey...if attorneys charge 200-500$ an hour (and pay experts 1K a day to testify)...they can pay someone else 1-2K a day!

Crazy?

 

[PsychEval]

This would probably be more towards I/O
1) Focusing on large businesses which require a variety of different "levels" of people to interact on a daily basis
an example would be a mid-sized law firm of 50-60 lawyers, that interact with paralegals/secretaries who in turn interact with admin people, and then HR overseeing everyone. Lots of stress, gossip, cliques, etc. form in these types of offices.

WOuld be nice to have someone coming in 1-2 times per year to hold small seminars to suggest ways to work together, avoid the BS of office politics (or how to effectively deal with them), etc.

Each day you could charge 1-2K, plus travel expenses if necessary (for several 1-2 hour seminars held in one day, max. of say 60 employees per day...10-20 people per seminar...so if a firm had 300 employees you could break it up over several days), twice per year. Potentially you could have around 100 clients to keep you super busy (that would be around 200 days per year..still leaves 165 days for vacation, preparation, conferences, etc...even after weekends you're still left with around 60 days dead time). At 1 K that averages around 200K per year, or at 2K 400,000 per year.

Hey...if attorneys charge 200-500$ an hour (and pay experts 1K a day to testify)...they can pay someone else 1-2K a day!

Crazy?

I love it!

 

[twiggers]

Well since I'm non-clinical...someone implement it and let me know how it works out...lol

I worked at a law office for years and I can be a testament to the fact that these types of organizations need it!

 

[PsychEval]

Well since I'm non-clinical...someone implement it and let me know how it works out...lol

I worked at a law office for years and I can be a testament to the fact that these types of organizations need it!

Is coaching regulated?

 

[twiggers]

I wouldn't really call it coaching (since it's not really one on one, but rather group based)...since you're not likely to be answering direct questions, or addressing direct problems. Rather, the office supervisor would be encouraged to provide you with information on things going on in the office, and you would address that in the seminar.
Overall, it would really be providing the people in the office with a variety of ways they can deal with office problems, interpersonal conflicts, etc. The psychologist can feel free to interject actual office examples (e.g. "you are unable to work together with person X because your views on subject X are dramatically different"), and provide specific examples to work around it.

To me coaching is more of a one-to-one thing (I just finished training on how to implement coaching with ADHD children as part of a research project, and it's all one-to-one).

 

[psychgeek]

Is coaching regulated?

No