Psychiatrists' Earnings

[Anasazi23]

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174k for less than two years in practice.

Not bad...
http://www.bls.gov/oco/ocos074.htm#earnings

 

[Poety]

174k for less than two years in practice.

Not bad...
http://www.bls.gov/oco/ocos074.htm#earnings

I hope thats accurate. At least you're closer to that compensation. I feel like I'm never going to get there 🙁 Our residency is LONG - You'd think it'd be 3 years <sigh>

 

[Triathlon]

So to break it down what are all of the billable services we will be able to provide? And what are the usual reimbursments?
I am familar with the med checks 60-120
Psychotherapy 90-300/hr
what are the fees for other things like legal stuff or c/l or inpatient (is that all salary)? Any procedures at all? Like ECT, these new implantable vagal stimulators, maybe BOTOX ( ), I was thinking as a DO I could do manipulation as a side (I know, but it pays well and depression has a psychomotor component), can anybody make a list or is there a psych billing code book of sorts?
I want to make sure I am most financially efficient. Enough high billing items so I have time to give quality care.

 

[Anasazi23]

So to break it down what are all of the billable services we will be able to provide? And what are the usual reimbursments?
I am familar with the med checks 60-120
Psychotherapy 90-300/hr
what are the fees for other things like legal stuff or c/l or inpatient (is that all salary)? Any procedures at all? Like ECT, these new implantable vagal stimulators, maybe BOTOX ( ), I was thinking as a DO I could do manipulation as a side (I know, but it pays well and depression has a psychomotor component), can anybody make a list or is there a psych billing code book of sorts?
I want to make sure I am most financially efficient. Enough high billing items so I have time to give quality care.

This is from the APA website:

As a physician, you are entitled to use all of the codes in the CPT Manual, not just the psychiatry codes. CPT contains an entire section of neurology codes, as well as evaluation and management (E/M) codes that include outpatient visits, hospital visits, and consultations. Depending on the nature of your practice, other sections of the CPT Manual may also be useful to you.

It is extremely important that you use the codes that accurately reflect the service you provide rather than using the same one or two codes for all services in an attempt to simplify your billing. Become familiar with all of the psychiatric codes and any others that describe services you typically provide. When your documentation supports the code you have chosen, you substantially reduce the likelihood of future problems with the payer (documentation tips follow).

CODES DO NOT ALWAYS EQUAL REIMBURSEMENT

Although physicians and other professional caregivers are entitled to use all of the CPT codes, the existence of a code does not guarantee that a payer will reimburse you for it. The primary purpose of the codes is to accurately describe all of the services provided to patients.

Most payers, such as insurance companies, government health programs, and managed care organizations, use the CPT codes voluntarily because they are an established convention for communicating between providers and payers.

There is a great deal of variability, however, in how payers use the codes. For example, some payers want psychiatric services billed using E/M codes, while others require psychiatrists to use only the psychiatric section of the CPT Manual. Other payers, including Medicare, will only pay for services provided with the patient present, so codes that describe the review or preparation of reports will not be reimbursed. Still other payers specifically exclude or restrict the use of particular procedure codes, such as those for family therapy.

If you are providing a unique service or want to bill with an unusual code, you should contact the payer directly before reporting such a service. You’ll want to reach an agreement about: 1.) the payer’s willingness to reimburse you for the service and 2.) the payer’s preferred method of reporting the service. Taking a proactive approach increases the likelihood that your claim will be processed promptly and correctly. In addition, such an approach gives you the opportunity to establish a positive, collegial working relationship with the payer, which may help you if future problems develop.

DOCUMENTATION IS VITAL

As mentioned above, documentation supporting the use of the procedure code you have submitted can help you defend your selection if it’s challenged by the payer. If you are using a psychiatric code (90800 series), your documentation should include at least the following information:

Date of service

Length of encounter

Description of the patient’s mental state

Description of the service provided

Treatments implemented

Response to treatment

Legible signature

For documenting evaluation and management services (E/M), you also need to consult the CPT Manual. It contains a section of E/M guidelines to assist you in selecting and documenting the proper code and level of service.

BE PROACTIVE

If you experience reimbursement problems despite coding and documenting correctly, there are a number of steps you can take.

Fill out all forms completely and legibly. Stamp or write on attachments: please do not separate attachments.

Call the payer’s provider relations department for feedback and information on policies.

Contact the chair of the Insurance or Managed Care Committee of your local psychiatric society. He or she can put you in touch with colleagues with similar problems, assist you in accessing APA resources, sponsor legislation, and organize and sponsor legal actions.

Call the APA’s Managed Care Help Line, (800) 343-4671, to speak with a staff member who has expertise in coding and reimbursement issues.

Another essential resource for information on coding and documentation besides the AMA’s manual is the CPT Handbook for Psychiatrists (3rd edition) by Chester Schmidt, M.D., chair of the APA’s Work Group on Codes and Reimbursements. The CPT Handbook contains information on the history of the CPT codes, third-party payer policies, documentation for psychiatric and evaluation and management codes, and information on using the new CPT codes for individual psychotherapy. The CPT Handbook can be ordered by calling APPI at (800) 368-5777. or by visiting www.appi.org.

 

[Hurricane]

Dude, I just wanna make enough to pay my tivo bill, and some tasty wine. That's all I need to be happy.

 

[Anasazi23]

Learn to love the Trader Joe's merlot reserve until the fat paychecks come in.
$3.99/bottle.

 

[MossPoh]

Learn to love the Trader Joe's merlot reserve until the fat paychecks come in.
$3.99/bottle.

I'm just a poor college student still, but I prefer the liquor which is why I stick with the classy "Vladimir Vodka" or maybe "Bankers Club" ...all of 8 dollars fo ra handle... of course it is like drinking drano or something

 

[Anasazi23]

I recomment the "Two Buck Chuck" from Trader Joe's, which I referred to earlier:

http://www.traderjoes.com/products/chuckshaw.asp

 

[Poety]

I recomment the "Two Buck Chuck" from Trader Joe's, which I referred to earlier:

http://www.traderjoes.com/products/chuckshaw.asp

Hey Miller Lite is the way to go 😛 12.00 for a 24 pack, what more could you REALLY ask for? Plus you have enough to share iwth your friends

 

[Solideliquid]

Dude, I just wanna make enough to pay my tivo bill, and some tasty wine. That's all I need to be happy.

Man that tivo thing is amazing! (it's called DVR here)

Last night I was watching this new show on HBO called "Lucky Louie" (sp?) soo funny BTW.

So...I'm about 10 minutes into the show and my wife comes to the living room and sits down with me and starts watching. I tell her this is so funny and I how wish she was there at the beginning of the show. She picks up the remote and presses rewind to the beginning. I almost dropped my soda in shock. It was so cool.

From this day forth, all TVs owned by Solide and Co. shall be christened with the DVR. It is declared.

 

[PublicHealth]

Hey Miller Lite is the way to go 😛 12.00 for a 24 pack, what more could you REALLY ask for? Plus you have enough to share iwth your friends

Ah, come on, Poety, even with all that debt, please don't go Nick Lachey on us! Go for some cheap imported brew for a few more bucks -- Canadian, German, etc. Not sure what to get? Try www.ratebeer.com

 

[prominence]

Hey Miller Lite is the way to go 😛 12.00 for a 24 pack, what more could you REALLY ask for? Plus you have enough to share iwth your friends

poety, im sure u can do better than miller lite, even with limited funds.

 

[OldPsychDoc]

Hey Miller Lite is the way to go 😛 12.00 for a 24 pack, what more could you REALLY ask for? Plus you have enough to share iwth your friends

Miller Lite is like having sex in a canoe... 😱




.....it's f'n close to water!

 

[Poety]

Miller Lite is like having sex in a canoe... 😱




.....it's f'n close to water!

go ahead bash my taste in beer - I'll have you know, I'm capable of drining THREE miller lites in one night, whereas if it was that imported XXX stuff I can only drink ONE, and thast just a party pooper - one stinking beer and then goign to bed 😳

 

[Doctor Bagel]

I recomment the "Two Buck Chuck" from Trader Joe's, which I referred to earlier:

http://www.traderjoes.com/products/chuckshaw.asp

and of course I have to move away from a city with TJs to go to medical school. I'll be broke and have no $2 buck chuck option (even though it's really more like $3 buck chuck since it's $2.99 🙂 ). I've got to get back to TJ land for residency.

 

[Doctor Bagel]

go ahead bash my taste in beer - I'll have you know, I'm capable of drining THREE miller lites in one night, whereas if it was that imported XXX stuff I can only drink ONE, and thast just a party pooper - one stinking beer and then goign to bed 😳

That's the plus and the negative of real beer. Our local microbrewies have all these beers that are 6 to 7% abv compared with that 3% macrobrew stuff. You can get pretty loopy after one beer.

I'm not a hipster, but the only light macrobrew I like is PBR. 🙂

 

[Psyclops]

Or you could live in Pennsylvania, where they have TJ's but they can't sell wine because of archaic Quaker laws that continue to be in place. It's 2006!