Help me make sense of this? LPC vs. LCP in private practice...

[PsychUndergrad]

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[Student4Life0]

I've searched the threads and certainly browsed a lot however I'm still perplexed by this...

http://www.psyfin.com/articles/0810_narrow_focus.htm

This individual is a LPC (Licensed Professional Counselor - masters level) who seems to be charging a LCP (Licensed Clincal Psychologist - doctoral level) like fee ($120) to clients at her private practice.

For one who aspires to primarily have a private practice career, is a doctoral level degree really fiscally worth the time/money/stress compared to a MA in Counseling Psychology or MSW?

Am I just missing something really obvious here?

From my understanding, a masters level clinician in private practice can do quite well for themselves. I think it all depends on what your goals for the degree are. If you are interested in doing only talk therapy, an MA would probably be enough. However, I am not sure if the earning potential is as much as a clinical psychologist in private practice. The main point here is that the training and job descriptions are quite different (or they should be, at least). Many people go on for their doctorate because they are interested in research, academia, assessment, etc. It opens up a variety of doors and options that only having an MA would not.

 

[Stu951]

I recently completed a masters and am working as a PLPC (and applying to PhD programs), and I can tell you that as far as billing session hours in private practice the pay appears very similar. You are however limited in other ways. Many people I know who are psychologists also do assessments, which even if it is a smaller part of thier practice is often a big part of thier income. And I think you are also limited in what type of jobs you can get if you want to practice as a part of an orginization (like a university counseling center or larger community mental health practice). I would imagine it might also impact referrals and reputation, although over time as you established yourself that would become less relevant. These are all things that have been said to me when I spoke with mentors about deciding to go on and do more. I think the more education you have the more options you have if you get into private practice and decide it isn't your cup of tea.

 

[stigmata]

People can charge whatever they wish, but that does not mean patients are paying it, and there is no way insurance panels are. Perhaps this person is really good, or specialized in something and can charge that amount?

 

[PsychUndergrad]

Thank you all for the great information. I've been trying to research the current trends in insurance reimbursement based on being a licensed clinical psychologist or a masters level practitioner. Does anyone know, or have experience, with the current trends in reimbursement.

 

[Therapist4Chnge]

People can charge whatever they wish, but that does not mean patients are paying it, and there is no way insurance panels are. Perhaps this person is really good, or specialized in something and can charge that amount?

Well said.

 

[BSWdavid]

Income, isn't based on education or expertise, necessarily, but is based on basic economics. For example, look at how much the average nurse makes compared to the average clinical psychologist. Vast difference in education yet I know nurses that make more than some psychologists. The market determines how much one can charge.

 

[madisonbnola]

As said above, it really is economics and what the market will bear where you are. It is the first couple of years post-masters and pre-license (which was 3000 hours over at least 2 years in my state) that hurt the most financially. I want a PhD because of research interests and the desire to teach at universities (among other things) but I am not sure of what it will mean for my income. It also depends on the perception of mental health providers in your area. I know LCSWs that charge more than some LPCs and vice versa and many of them are not far away from PhD level clinician prices. Insurance panels are how you get your steadiest income (but are a pain to deal with) though it is up to you if the time spent trying to get reimbursed is worth it. Another big variable is reputation and the quality of services provided. It is great if you can charge $100+ a session, not so great if you don't keep clients at that rate.

 

[FadedC]

It also sounds like the majority of her patients pay out of pocket without insurance covering it, in which case she can charge whatever she wants. I know of "life couches" who charge considerably more then that and who have no shortage of clients.

 

[docma]

Income is determined by the economy and the determination/productivity of the provider.

Excellent therapy can be provided by master's level clinicians.

Getting a doctorate should be about wanting the added learning and academic credential for your own development--not because it will make you richer or necessarily better-than other providers

http://www.economist.com/node/17723223

 

[stigmata]

Hmmm...maybe. However, 95% of what I do cannot be done by a masters level clinician, economy or not.

 

[PsychUndergrad]

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