Hourly rate as independent contractor for cash only psychology practice

[psyguru]

I am looking into a part time opportunity to work 2 to 3 days in a 12 psychotherapist practice. Maybe 200 for a followup and 400ish for a new patient. Plan is to do 20 to 30 minute followup and 1 hour new patient (most would have diagnosis from the therapist). The want to offer an hourly rate but maybe willing to consider a salary. I will have to do my own malpractice insurance.

What would be a good hourly rate to start with? My take is that I can negotiate a higher rate than a psychiatry clinic as I dont think the owner is looking to take a big cut as she has 12 therapists. Drawback is not much support as a medical clinic (lack of prescription assistance staff, paper scripts, psychotherapy emr, etc).

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[TexasPhysician]

Without dedicated staff and either paper charts or preferred EMR, I wouldn’t do it at all. They need to provide you with what you need if they are getting a cut.

 

[romanticscience]

You could consider doing your own billing and just take what you make.

 

[dl2dp2]

The hourly rates depend on the geographical location, but should not be below $200. It can go > $350

It's best to assess the local market by 1) talking to your peers, 2) discussing similar scenarios with other groups. In particular, it's useful to get a list their negotiated billing rate for commonly used codes to get a sense of what their estimated reimbursement would be, if the practice is insurance driven. If the practice is cash driven, what would be the prevailing rates in the local market.

 

[TexasPhysician]

The hourly rates depend on the geographical location, but should not be below $200. It can go > $350

You are seeing contracted hourly rates at $350?

In my state, contracted rates are typically $120-190.

 

[Ironspy]

You are seeing contracted hourly rates at $350?

In my state, contracted rates are typically $120-190.

I’ve seen hourly rates of 160-250 in the northeast. Most moonlighting residents get >120 here as well.

 

[hera kitty]

I am looking into a part time opportunity to work 2 to 3 days in a 12 psychotherapist practice. Maybe 200 for a followup and 400ish for a new patient. Plan is to do 20 to 30 minute followup and 1 hour new patient (most would have diagnosis from the therapist). The want to offer an hourly rate but maybe willing to consider a salary. I will have to do my own malpractice insurance.

What would be a good hourly rate to start with? My take is that I can negotiate a higher rate than a psychiatry clinic as I dont think the owner is looking to take a big cut as she has 12 therapists. Drawback is not much support as a medical clinic (lack of prescription assistance staff, paper scripts, psychotherapy emr, etc).

if you are truly an independent contractor they would not be required to supply you with any supplies or services. Make sure that wherever you go it truly is an independent contractor set up as many sites say they hire independent contractors but they fit the employee classification. For instance, will they advertise on their site that you work there or give business cards etc

 

[TexasPhysician]

if you are truly an independent contractor they would not be required to supply you with any supplies or services. Make sure that wherever you go it truly is an independent contractor set up as many sites say they hire independent contractors but they fit the employee classification. For instance, will they advertise on their site that you work there or give business cards etc

It depends on the wording of the contract. There are many ways to structure an independent contractor to include providing some supplies and services.