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First, let me say that it will be essentially impossible to reach these figures without offering some form of group psychotherapy. One to one services cannot be scaled and therefore will always be hard-capped by the number of hours you’re willing to work. Groups have a cap too, but the cap is higher.
Let me start by showing you my daily schedule and the associated CPT codes:
8:30am – 9:00am Psychological Testing Feedback Session (90832)
9:00am – 11:00am Intensive outpatient group psychotherapy (S9480 x8)
11:00am – 12:30pm Psychological testing battery (90791 + 96130)
12:30pm – 2:00pm Psychological testing battery (90791 + 96130)
2:00pm – 4:00pm Intensive outpatient group psychotherapy (S9480 x8)
4:00pm – 5:00pm Individual psychotherapy (90837)
So in a 48 week calendar year I’m scheduled for:
240 units of 90832 (x$90) = $21,6000
240 units of 90837 (x$225) = $54,000
480 units of 96130 (x$250) = $120,000
480 units of 90791 (x$300) = $144,000
3,840 units of S9480 (x$135) = $518,400
Total = $858,000
x.925 (attendance) = $793,650
A few notes on this:
I have relationships with several local colleges and take 2-3 master’s interns each year to help run my IOPs. They are unpaid.
My rates may seem high. I have several specialties that are rare in my area and I re-negotiate them every year.
Most of my assessments are pre-surgical. MBMD + relevant symptom inventories and screeners. That's why they're so short and why there is no face to face testing code. I do paperwork while clients fill out their assessments.
My show rate may also seem high. I have a massive wait list and a strong reputation in my community. My clients are aware of my wait list and they make every effort to attend as consistently as possible.
I am always able to be reimbursed for 90837 for individual therapy (unless the time parameter is not met) because I specialize in severe conditions.
As you can see I don’t take breaks. I meal prep my lunches and eat in a few minutes between clients. I finish my paperwork at the end of the day. This is a very aggressive work schedule that is certainly not for everyone.
Having very good templates and an efficient EHR is crucial.
My plans for 2023:
Finish my second book. I released my first book in 2021 and to date have made about $5,000 on it which is nice but not great. However, I’ve become a much better writer and have a much wider audience and I believe my second book with find more financial success. I project $10,000-$20,000 from this.
I plan to incorporate remote CBT monitoring into the intensive outpatient program. This is a new CPT code involving shared biodata (sleeping, eating, etc). It pays around $50/month/client so with 16 clients that should add nearly $10,000 to my annual income.
I may phase out individual psychotherapy in favor of pre-recorded courses. I have a decent sized social media following and have had many requests for this. I legitimately believe I can make $100,000 a year from it which would be a net increase of $50,000.
I will be billing the colleges for supervision starting with my next round of interns. Previously I was providing these services in exchange for the assistance in running my IOPs, but both of my interns last year landed very prestigious and high paying jobs and I plan to leverage that into paid supervision services. At $250/hour and 2 hours/week that would be an additional $24,000/year.
I have several paid speaking engagements scheduled for the first half of this year totaling about $5,000. If I assume I can duplicate that for the second half of the year we can call it $10,000.
That doesn’t quite get me to $1,000,000 but very close. I suspect I’ll find one or two ways to eke out the remainder. App development and business consultations are also on my 2023 radar.
I just thought this might be interesting for people to see. I’m happy to answer any questions.
Let me start by showing you my daily schedule and the associated CPT codes:
8:30am – 9:00am Psychological Testing Feedback Session (90832)
9:00am – 11:00am Intensive outpatient group psychotherapy (S9480 x8)
11:00am – 12:30pm Psychological testing battery (90791 + 96130)
12:30pm – 2:00pm Psychological testing battery (90791 + 96130)
2:00pm – 4:00pm Intensive outpatient group psychotherapy (S9480 x8)
4:00pm – 5:00pm Individual psychotherapy (90837)
So in a 48 week calendar year I’m scheduled for:
240 units of 90832 (x$90) = $21,6000
240 units of 90837 (x$225) = $54,000
480 units of 96130 (x$250) = $120,000
480 units of 90791 (x$300) = $144,000
3,840 units of S9480 (x$135) = $518,400
Total = $858,000
x.925 (attendance) = $793,650
A few notes on this:
I have relationships with several local colleges and take 2-3 master’s interns each year to help run my IOPs. They are unpaid.
My rates may seem high. I have several specialties that are rare in my area and I re-negotiate them every year.
Most of my assessments are pre-surgical. MBMD + relevant symptom inventories and screeners. That's why they're so short and why there is no face to face testing code. I do paperwork while clients fill out their assessments.
My show rate may also seem high. I have a massive wait list and a strong reputation in my community. My clients are aware of my wait list and they make every effort to attend as consistently as possible.
I am always able to be reimbursed for 90837 for individual therapy (unless the time parameter is not met) because I specialize in severe conditions.
As you can see I don’t take breaks. I meal prep my lunches and eat in a few minutes between clients. I finish my paperwork at the end of the day. This is a very aggressive work schedule that is certainly not for everyone.
Having very good templates and an efficient EHR is crucial.
My plans for 2023:
Finish my second book. I released my first book in 2021 and to date have made about $5,000 on it which is nice but not great. However, I’ve become a much better writer and have a much wider audience and I believe my second book with find more financial success. I project $10,000-$20,000 from this.
I plan to incorporate remote CBT monitoring into the intensive outpatient program. This is a new CPT code involving shared biodata (sleeping, eating, etc). It pays around $50/month/client so with 16 clients that should add nearly $10,000 to my annual income.
I may phase out individual psychotherapy in favor of pre-recorded courses. I have a decent sized social media following and have had many requests for this. I legitimately believe I can make $100,000 a year from it which would be a net increase of $50,000.
I will be billing the colleges for supervision starting with my next round of interns. Previously I was providing these services in exchange for the assistance in running my IOPs, but both of my interns last year landed very prestigious and high paying jobs and I plan to leverage that into paid supervision services. At $250/hour and 2 hours/week that would be an additional $24,000/year.
I have several paid speaking engagements scheduled for the first half of this year totaling about $5,000. If I assume I can duplicate that for the second half of the year we can call it $10,000.
That doesn’t quite get me to $1,000,000 but very close. I suspect I’ll find one or two ways to eke out the remainder. App development and business consultations are also on my 2023 radar.
I just thought this might be interesting for people to see. I’m happy to answer any questions.
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