Charging insurance

[ikibah]

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If my main goal is therapy is it worth it to get my psyd as opposed to my lcsw ? I'm asking specifically in terms of charging insurance/income. Is it worth the extra schooling to be able to get more $ through insurance. Actually...is there even a difference in how much I can charge insurance dependent on degree?

 

[erg923]

yes, but not enought to offset loan payments for 200k

 

[ikibah]

How much is the difference?

 

[erg923]

Varies by carrier, by state, what specfic activity you are billing (therapy, intake session, interview, etc).

 

[ikibah]

Can I get an average for therapy?

 

[Doctor Eliza]

It really can vary quite a bit. However, for example, a major insurer pays me $70 and my MSW friend $60.

 

[paramour]

It really can vary quite a bit. However, for example, a major insurer pays me $70 and my MSW friend $60.

And then I know of insurers who pay everyone the same regardless of your level of education (granted, they also rarely provide benefits for master's level therapists--unless groups add "extra" premiums, which is extremely rare indeed).

 

[PHD12]

It really can vary quite a bit. However, for example, a major insurer pays me $70 and my MSW friend $60.

This has been my experience from what i've seen. The difference is either negligible or there is no difference at all. If you see about 20 pts per week (common caseload in PP after cancellations/no shows), we are talking like 2-3k extra per year in income.

 

[NCSP]

Varies by carrier, by state, what specfic activity you are billing (therapy, intake session, interview, etc).

What erg said... It might be helpful to look up your states Medicaid program as the reimbursement rates can typically be found online so you can compare rates for psychologist vs LCSW etc. Medicaid rates will give you some idea of what is the lowest rate for psychotherapy services. Additionally, psychologists have billing codes for psychological assessment which LCSW do not have.