Indeed. There are only about 225 prescribing psychologists in the US and it has taken 21 years for 6 states to enact prescribing psychologist legislation, most of which has significant restrictions or onerous requirements. In contrast, according to the AANP in 2018 there were 248000 NPs but by 2022 there were 355000. In 2016-2017, 1.7% of NPs were adult psych NPs and 2.1% were family psych, for
2020-2021 6.5% were psych NPs (who can now see children as well). The government projected a 65% increase in psych NPs between 2017 and 2030. Per the
AANP state of the profession report,
Psych/MH is the most lucrative certification for NPs. Psych NPs shockingly also write the most prescriptions out of all NPs, with a mean of 27 prescriptions per day.
Interestingly, workforce predictions suggest that the
Psych NP field will become oversaturated in the next few years, whereas the demand for psychiatrists will continue to grow due to attrition of psychiatrists and changing workforce. According the
HRSA: "Between 2017 and 2030, the total supply of all psychiatrists is projected to decline as retirements exceed new entrants. Rapid growth in supply of psychiatric nurse practitioners and psychiatric physician assistants may help blunt the shortfall of psychiatrists, but not fully offset it. In 2030, the supply of these three types of providers will not be sufficient to provide any higher level of care than the national average in 2017, which does not fully meet need."
Looking
over the next 30 years, it becomes much harder to make accurate predictions, but the studies done so far indicate at best a minor surplus of psychiatrists by 2050, and at worst, a continued deficiency. In short, the sky isn't falling.