Psychologist salary potential private practice in Pennsylvania

[memiller]

Hello everyone,
I was just curious if any current practicing clinicians had insight or advice about salary potential in private practice in the state of Pennsylvania. Or if one were to open their own group practice. Obviously one would have to have a Psy.D or Ph.D. I am just a prospective student and wanted to learn more! Let me know your thoughts please.

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[WisNeuro]

For private practice, solo or group? Anywhere from 60k to $2 million/year.

 

[memiller]

For private practice, solo or group? Anywhere from 60k to $2 million/year.

I’m thinking more of a private practice. However, I have had thoughts of opening my own group practice too. Thank you for your input!

 

[WisNeuro]

No one can really give you an accurate answer without knowing how the practice will be set up. There are dozens of variables which affect gross and net income. If you are looking for very rough reimbursement rates, you can look at medicare reimbursement rates for certain codes, and just extrapolate that across what you think you'd bill in a year to get a lower bound estimate if you are planning to be an insurance based practice.

 

[Sanman]

1. You don't need a doctorate for private practice, this can be done with a master's degree as well.

2. Without more details, it will be hard to gauge salary potential. Group or solo practice? How many hours do you want to work? What type of work do you want to do? How many employees will you have?

 

[Harry3990]

As people have noted, it's hard to give you a much of a specific estimate because the range is very wide. Generally though, I would agree that around $60k is probably the minimum for a full time psychologist in private practice (definitely could be less if working part-time) and I would say a more likely upper end of the range would probably top out at $300k or so for a solo practitioner. If you're an in-demand specialist and world famous expert or something, you could also make millions, but I'd say to expect that at your phase of career is probably getting way ahead of yourself. PA is also going to have a lot of variability within the state in terms of salary expectations and cost of living based on whether you're in a major metro area or in the middle of Pennsyltucky.