Salary for telehealth?

connar123

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    Finishing CAP fellowship in California but planning on moving to Florida to kind of a remote town so looking to work from home. I did residency there so I have a license for FL too. Can't start my own practice as I'm going to do PSLF. Open to seeing adults and/or kids. What salary should I expect from that kind of work? Thanks in advance for any advice.
     

    trophyhusband

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      Finishing CAP fellowship in California but planning on moving to Florida to kind of a remote town so looking to work from home. I did residency there so I have a license for FL too. Can't start my own practice as I'm going to do PSLF. Open to seeing adults and/or kids. What salary should I expect from that kind of work? Thanks in advance for any advice.
      The two bolded items seem incongruous. When my wife looked into telepsych jobs I don't think she came across a single company which was not for profit and thus none of them are going to be eligible for PSLF.

      You could try checking with the county mental health departments and see if they'd let you work from home... our local one is starting to have people see Psychiatrists telemed since they're losing them locally but even then those folks are in one of their other offices.
       
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      TexasPhysician

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        Telepsych (when not your practice) generally pays less than in person. Ryan Haight may play a role, but people generally prefer in-person at least initially. My patients report that an in-person session initially is really needed to build trust. This is amplified in child psych. Parents believe that you can’t get an accurate picture of their child without being in-person. Part of this is true. Seeing an ADHD child kick their feet, fidget with their hands, and climb on my couch can be much for apparent in person. Usually after 1-2 sessions, about 60% of my patients have no problem transitioning to tele. 40% refuse unless that is the only option.

        Tele-only has higher cost of acquisition costs for patients. The supply of psychiatrists wanting telepsych has gone up due to the pandemic. Greater supply lowers prices.

        The average pay that I’ve seen is $140/hr. I see as low as $100/hr being accepted. I’ve never seen above $180/hr, but I’ve heard people report $220/hr in other states. Many companies will impose clauses to reduce their risk. $100/hr may be guaranteed regardless of patients. $175/hr may require 4 follow-ups seen in that hour.

        The variability is high as many hiring businesses are corporations not run by physicians. They try their best to reduce risk and keep profits.
         
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        Red Beard

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          Finishing CAP fellowship in California but planning on moving to Florida to kind of a remote town so looking to work from home. I did residency there so I have a license for FL too. Can't start my own practice as I'm going to do PSLF. Open to seeing adults and/or kids. What salary should I expect from that kind of work? Thanks in advance for any advice.
          I work for a PSLF qualifying telepsych program, just had my loans forgiven a couple of months ago. We do ED and hospital consults with an in-house telehealth team as part of a large non-profit health system. Basically, hospitals in the system pay us a yearly fee to provide consultation services, rather than paying through the nose to a private for profit group. I work 0.8 FTE and get paid around $180k salary plus $40k QI bonus (QI bonus is essentially gauranteed.) Fair health insurance, marginal 401k match, $5k/year CME bonus. 12hr shifts 7am-7pm. For 08.FTE, that works out to about 2.5 shifts per week on average.
           
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          psych_0

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            I work for a PSLF qualifying telepsych program, just had my loans forgiven a couple of months ago. We do ED and hospital consults with an in-house telehealth team as part of a large non-profit health system. Basically, hospitals in the system pay us a yearly fee to provide consultation services, rather than paying through the nose to a private for profit group. I work 0.8 FTE and get paid around $180k salary plus $40k QI bonus (QI bonus is essentially gauranteed.) Fair health insurance, marginal 401k match, $5k/year CME bonus. 12hr shifts 7am-7pm. For 08.FTE, that works out to about 2.5 shifts per week on average.

            That's awesome! How much did you have forgiven?
             

            jbomba

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              Anyone know of telepsych opportunities that pay to be on call, perhaps for a hospital or ED with extra pay for patients seen? Hoping to find something I can do overnight and/or on weekends when I'm just at home anyways.
               
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              hebel

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                I work for a PSLF qualifying telepsych program, just had my loans forgiven a couple of months ago. We do ED and hospital consults with an in-house telehealth team as part of a large non-profit health system. Basically, hospitals in the system pay us a yearly fee to provide consultation services, rather than paying through the nose to a private for profit group. I work 0.8 FTE and get paid around $180k salary plus $40k QI bonus (QI bonus is essentially gauranteed.) Fair health insurance, marginal 401k match, $5k/year CME bonus. 12hr shifts 7am-7pm. For 08.FTE, that works out to about 2.5 shifts per week on average.
                That's awesome. I thought you had to be full time (1 FTE) to qualify? They were ok with 0.8 FTE?
                 

                Red Beard

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                  That's awesome. I thought you had to be full time (1 FTE) to qualify? They were ok with 0.8 FTE?
                  You have to work whatever your organization considers full time, and they have to sign your ECF saying so. My organization's HR considers 0.8-1.0 FTE "full time" for physicians, generally meaning that they give fulltime benefits at that FTE. I also had that "full time" designation written into my contract so there would not be any ambiguity.
                   
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                  Copper_Tracker

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                    Just for reference, here are two recent comp models I've come across when talking to recruiters:

                    Telepsych #1 - 40 hours / week. 300k base salary + 10k/yr retention bonus + 20k sign on bonus

                    Telepsych #2 - 38 hours / week. Random mix of nights/weekends/days on a monthly basis. 275k base salary + 20k "production bonus". 1 consult per hour expected workload

                    Both of the above are consults to medical floors and ED. #1 also covers medical/psychiatric issues coming up on inpatient psych floors
                     
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                    lethe5

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                      hi there! I wanted to piggy back on this thread. Does anyone have any experience personally working for a big telepsych company like genoa or iris? Would you be willing to share your experience with me either here or pm? I am in child psychiatry and considering working for one. I'm currently in academics but we may be moving across the country so makes it hard to find a place there while I'm elsewhere. Thanks!
                       

                      splik

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                        hi there! I wanted to piggy back on this thread. Does anyone have any experience personally working for a big telepsych company like genoa or iris? Would you be willing to share your experience with me either here or pm? I am in child psychiatry and considering working for one. I'm currently in academics but we may be moving across the country so makes it hard to find a place there while I'm elsewhere. Thanks!
                        can't answer your question, but now is actually the best time to be able to find jobs from across the country since most recruiting is taking place virtually and many in person jobs are remote for the forseeable future. working for thee big telepsych companies should be the option of last resort. I would encourage you not to be deterred by your current location, and remember that as a child psychiatrist you are a hot commodity.
                         
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                        Jules A

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                          Just for reference, here are two recent comp models I've come across when talking to recruiters:

                          Telepsych #1 - 40 hours / week. 300k base salary + 10k/yr retention bonus + 20k sign on bonus

                          Telepsych #2 - 38 hours / week. Random mix of nights/weekends/days on a monthly basis. 275k base salary + 20k "production bonus". 1 consult per hour expected workload

                          Both of the above are consults to medical floors and ED. #1 also covers medical/psychiatric issues coming up on inpatient psych floors
                          The consults for medical concerns sound awful. The EDs can dump all kinds of medical mimics on inpatient psych and you would be tasked with figuring that out? In my experience the availability of medical on inpatient psych is often lacking. Not something I’d relish dealing with from home in my comfy pants.
                           
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                          Fuzzy08

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                            Just for reference, here are two recent comp models I've come across when talking to recruiters:

                            Telepsych #1 - 40 hours / week. 300k base salary + 10k/yr retention bonus + 20k sign on bonus

                            Telepsych #2 - 38 hours / week. Random mix of nights/weekends/days on a monthly basis. 275k base salary + 20k "production bonus". 1 consult per hour expected workload

                            Both of the above are consults to medical floors and ED. #1 also covers medical/psychiatric issues coming up on inpatient psych floors
                            Which companies are these you speak of?
                             

                            underpinkmoonlight

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                              I work for a PSLF qualifying telepsych program, just had my loans forgiven a couple of months ago. We do ED and hospital consults with an in-house telehealth team as part of a large non-profit health system. Basically, hospitals in the system pay us a yearly fee to provide consultation services, rather than paying through the nose to a private for profit group. I work 0.8 FTE and get paid around $180k salary plus $40k QI bonus (QI bonus is essentially gauranteed.) Fair health insurance, marginal 401k match, $5k/year CME bonus. 12hr shifts 7am-7pm. For 08.FTE, that works out to about 2.5 shifts per week on average.
                              I would love to know the company/health system if you’re willing to share!
                               
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                              psyguru

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                                Telepsych (when not your practice) generally pays less than in person. Ryan Haight may play a role, but people generally prefer in-person at least initially. My patients report that an in-person session initially is really needed to build trust. This is amplified in child psych. Parents believe that you can’t get an accurate picture of their child without being in-person. Part of this is true. Seeing an ADHD child kick their feet, fidget with their hands, and climb on my couch can be much for apparent in person. Usually after 1-2 sessions, about 60% of my patients have no problem transitioning to tele. 40% refuse unless that is the only option.

                                Tele-only has higher cost of acquisition costs for patients. The supply of psychiatrists wanting telepsych has gone up due to the pandemic. Greater supply lowers prices.

                                The average pay that I’ve seen is $140/hr. I see as low as $100/hr being accepted. I’ve never seen above $180/hr, but I’ve heard people report $220/hr in other states. Many companies will impose clauses to reduce their risk. $100/hr may be guaranteed regardless of patients. $175/hr may require 4 follow-ups seen in that hour.

                                The variability is high as many hiring businesses are corporations not run by physicians. They try their best to reduce risk and keep profits.
                                I am doing $220/hr - 2 followups an hour or 1 new patient an hour. It was not originally telepsych but it is now. It is one day a week so pay is little higher than they would give full time.
                                 
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                                Corticola

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                                  I am doing $220/hr - 2 followups an hour or 1 new patient an hour. It was not originally telepsych but it is now. It is one day a week so pay is little higher than they would give full time.
                                  I am doing $220/hr - 2 followups an hour or 1 new patient an hour. It was not originally telepsych but it is now. It is one day a week so pay is little higher than they would give full time.
                                  What company or health system?
                                   

                                  psyguru

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                                    I am doing $220/hr - 2 followups an hour or 1 new patient an hour. It was not originally telepsych but it is now. It is one day a week so pay is little higher than they would give full time.
                                    It is an FQHC in Texas. PM me if you like. FYI, I don't think the new VP will offer the same rate and I am limited to 1 day a week. Sending them my expert witness fee schedule helped when negotiating the rate.
                                     
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