Hello all,
I am very interested in feedback from Psychiatry med students and Psychiatrists practicing in various settings (Private Practice, Hospitals, etc.) regarding some research for a future Private Practice (Fall 2016).
First off, I am a LPC (Licensed Professional Counselor in the Piedmont area of NC) and have about 14 years of experience working both in the Non-Profit and currently in the For Profit area of Mental Health. I have extensive management experience and am comfortable with many aspects of managed care, client/patient care and of course, psychotherapy. Currently, I work for a Psychiatrist owned practice and I am typically the top billing therapist in the practice. I really enjoy what I do and for some time have considered starting my own practice and bringing on a team of Psychiatrists/PA's/NP's and Therapists. Additionally, I am often surprised by the lack of Psychiatrists in this area that are accepting new patients or can see a new patient relatively quickly (i.e. less than 2 months). For example, for a new patient to see our practice owner (MD), the wait is typically 3 months (to see the PA or NP - possibly 3 weeks). Close by in a larger city, the wait is even longer (if you can even get the Psychiatrist to return the call). I am curious to see what others would think about several areas to find out what is attractive to MD's regarding PP.
1) Would you prefer to work for a practice on a "fee for service" basis or rent office space? Only renting space would include: front desk coverage/check-in/out, appointment setting and referral stream from other practitioners in the office, but MD would do their own billing? Fee for service would include a framework like: ex. practitioner would earn 60% of revenue if billing $15k+ a month, 55% for $14-14999k a month, etc. This would include all of the above, but billing would be included, plus other benefits (401k, bonus potential, practice marketing, website, etc.).
2) Thoughts on working with a team of mental health professionals vs solo practice?
3) In our area, I typically notice that expecting to see a large number of patients that are willing to pay full fee w/o insurance is unrealistic. It seems like that the practices that utilize at least a few insurance panels with self pay, tend to fill quickly. Is this a turn off for MD's (if considering work in a practice)?
4) Suggestions for me to locate MD's? I realize that I could put an ad in the typical places (paper, job search engines), but do you find that your profession searches particular places more often (ex. LinkedIn, APA board, etc.)?
5) This is just a starting point with my questions, but anything else that could be helpful for me to consider from a Psychiatrist's point of view?
Thanks so much in advance! Basically any info and thoughts are helpful.
I am very interested in feedback from Psychiatry med students and Psychiatrists practicing in various settings (Private Practice, Hospitals, etc.) regarding some research for a future Private Practice (Fall 2016).
First off, I am a LPC (Licensed Professional Counselor in the Piedmont area of NC) and have about 14 years of experience working both in the Non-Profit and currently in the For Profit area of Mental Health. I have extensive management experience and am comfortable with many aspects of managed care, client/patient care and of course, psychotherapy. Currently, I work for a Psychiatrist owned practice and I am typically the top billing therapist in the practice. I really enjoy what I do and for some time have considered starting my own practice and bringing on a team of Psychiatrists/PA's/NP's and Therapists. Additionally, I am often surprised by the lack of Psychiatrists in this area that are accepting new patients or can see a new patient relatively quickly (i.e. less than 2 months). For example, for a new patient to see our practice owner (MD), the wait is typically 3 months (to see the PA or NP - possibly 3 weeks). Close by in a larger city, the wait is even longer (if you can even get the Psychiatrist to return the call). I am curious to see what others would think about several areas to find out what is attractive to MD's regarding PP.
1) Would you prefer to work for a practice on a "fee for service" basis or rent office space? Only renting space would include: front desk coverage/check-in/out, appointment setting and referral stream from other practitioners in the office, but MD would do their own billing? Fee for service would include a framework like: ex. practitioner would earn 60% of revenue if billing $15k+ a month, 55% for $14-14999k a month, etc. This would include all of the above, but billing would be included, plus other benefits (401k, bonus potential, practice marketing, website, etc.).
2) Thoughts on working with a team of mental health professionals vs solo practice?
3) In our area, I typically notice that expecting to see a large number of patients that are willing to pay full fee w/o insurance is unrealistic. It seems like that the practices that utilize at least a few insurance panels with self pay, tend to fill quickly. Is this a turn off for MD's (if considering work in a practice)?
4) Suggestions for me to locate MD's? I realize that I could put an ad in the typical places (paper, job search engines), but do you find that your profession searches particular places more often (ex. LinkedIn, APA board, etc.)?
5) This is just a starting point with my questions, but anything else that could be helpful for me to consider from a Psychiatrist's point of view?
Thanks so much in advance! Basically any info and thoughts are helpful.