5 of the best EHR systems for psychiatry
Choosing the right EHR can be overwhelming. Discover the best EHR options for psychiatry to streamline billing, enhance compliance, and improve care.
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Identifying the taxonomy code for mental health counselors
Therapist reviews: Headway vs Grow Therapy
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How much does psychotherapy cost?
Here’s what to know about determining the cost of a therapy session — and what influences that number.
Healthcare — including psychotherapy — is an investment. For clients, understanding the investment up front is an important way to build trust with a therapist and avoid stressful surprises. That said: Many different factors can impact the cost of psychotherapy.
Read on to learn more about factors that can influence how much therapy sessions cost, and how Headway can make it easier for you to connect with clients and get paid for your services.
Average costs of therapy
The amount your client pays out of pocket depends on several different factors. Accepting insurance can make therapy more accessible, but every insurance plan is different. For example, some clients have insurance plans where they pay the full therapy fee until they meet their deductible — after which point the insurance payments kick in and simply pay a copay, or a contribution toward the overall bill.
Insurance plan co-pays and coinsurance costs for clients can vary depending on the specifics of their individual plan and may differ from one client to another.
What impacts the cost of therapy?
If you accept insurance, many variables can impact the cost of therapy for your clients. Encourage clients to contact their insurance provider about the exact out-of-pocket cost for therapy sessions to avoid surprises. To ensure consistency and build trust with clients, Headway is up front about costs, providing a cost estimate based on someone’s insurance plan and the provider’s typical services.
Insurance coverage
Whether a client has insurance, and whether you’re in-network for their specific plan, is one of the most important variables determining the cost of therapy. Headway helps clients understand if their insurance covers therapy.
Location
The cost of behavioral health services can vary depending on a person’s geographic location. For example, psychotherapy may be more expensive or inexpensive in one state versus another. Therapist availability can influence market rates, and so can local cost of living.
Therapist credentials
A therapist’s educational background and degree can also influence the cost of psychotherapy. Therapy may cost more with higher-paid professions, such as psychiatrists or nurse practitioners. PhD or PsyD therapists may also be reimbursed more than MA-level therapists, resulting in a greater out-of-pocket cost for clients.
Specialized therapy costs
Therapy modality can play a role in the cost of services, too. Providers with advanced training may be able to bill insurance at higher rates, resulting in a higher cost for clients. Some types of therapy may require longer or more frequent sessions, which can further increase therapy costs.
Session length
Session length is another factor that contributes to reimbursement rates — generally, if you see a client for a longer period of time, you’ll get paid more. As a result, the client may end up paying more for a 75-minute session than for a shorter 50-minute session.
Online or in-person
Finally, whether you conduct therapy online or in person can play a role in the cost of sessions. Rates ultimately depend on a client’s plan, but they’re typically similar for both formats. Because the pandemic expanded access to online care, many payers now reimburse telehealth at the same rate as in-person care.
It’s important to use the code that most accurately reflects the time you spent with the patient to treat their condition, and ensure that documentation for the session supports the chosen code.
Directories help clients find in-network providers
Finding an in-network provider is one of the best ways to cut down on therapy costs. Therapist directories like Psychology Today, Good Therapy, or Therapy for Black Girls can help clients find providers who accept their insurance — but it’s still a good idea for clients to double-check that you’re covered under their plan before booking a session.
Let Headway negotiate rates on your behalf.
Headway negotiates the best reimbursement rates for providers across more than 45 insurance panels, making it easy for you to get paid more — while ensuring therapy is as affordable as possible for clients. As a Headway provider credentialed with insurance providers, you can also see clients via private pay, allowing you to set your own rates and still benefit from bi-weekly Headway payouts.
Headway makes accepting insurance easier.
Accepting insurance is easier with Headway — no paperwork, phone calls, or billing headaches. Headway handles credentialing, claims, and payment processing, so providers can focus on care, not admin. The platform also verifies client benefits up front and tracks every step of the reimbursement process, providing transparency and peace of mind.
Starting a practice
5 of the best EHR systems for psychiatry
Identifying the taxonomy code for mental health counselors
Discover the correct taxonomy code for mental health counselors and learn how to use it for insurance billing, credentialing, and reducing reimbursement delays.
Therapist reviews: Headway vs Grow Therapy
Deciding between Headway and Grow Therapy? Let’s break down the key differences and benefits to discover which is right for your practice.