Average
Therapist
3 hours
30 minutes
$200
$500
$150
$350
$4,200
Tech-Challenged
Therapist
6 hours
1 hour
$200
$1,000
$150
$850
$10,200
Psychoanalyst
- 4 analytic patients 4x weekly
- 20 therapy patients 1x weekly
- 25% of patients on insurance
- Statements for all patients
- Claims for insured patients
- One new patient per month
8 claims/month x $5 = $40/month
24 statements/month x $5 = $120/month
1 new patient x $15 = $15/month
$2,100/year
Psychotherapist #1
- 30 individual patients weekly
- 50% of patients on insurance
- Claims for insured patients
- No statements
- One new patient per month
15 claims/month x $5 = $75/month
1 new patient x $15 = $15/month
$1,080/year
Psychotherapist #2
- 3 groups x 8 patients weekly
- 20 individual patients weekly
- 75% of patients on insurance
- Claims only, no statements
- 3 new patients per month
33 claims/month x $5 = $165/month
3 new patients x $15 = $45/month
$2,520/year
Fees
Fee structure: Our fee structure is very simple and is based on a per-document and per-patient fee.
- Fee to add a new patient to our database: $15
- Fee to create a document (claim or statement): $5
- Research service fee: $100/hour
All related costs such as stationary and postage are included in these fees. (FYI our cost to mail a single document printed on linen stationary in a linen envelope is about 65 cents.)
These fees generally result in a monthly cost of $100 to $200 for a full-time therapist or analyst, or roughly $1,200 to $2,500 per year, depending on the nature of your practice: how many patients you see, how many are insured, whether you do group therapy, and whether you need just statements, just claims, or both.
Case Studies: Here are a few examples showing how these rates translate into monthly costs for full-time therapists with different kinds of practices:
Is It Worth It? This of course is a personal decision, but here are a few ways to think about it. The simplest is to consider how much time you spend on billing now versus how much time you will save by using Psychoanalyst Services, and then put a value on that time based on your standard hourly rate. Some of our technology-challenged clients used to spend the better part of a day per month putting bills and claims together. Others with better computer and organizational skills might do the job in an hour or two. If you assume an hourly rate of $200, then here is the math:
Before: time spent
on billing (monthly)
After: time spent
on billing (monthly)
Rate (hourly)
Time value of
savings (monthly)
Cost of service (monthly)
Savings (monthly)
Savings (annual)
Other Considerations: In addition to financial savings, there are other things to consider in choosing how to get your billing done. One client used to scribble out virtually illegible handwritten bills; now her bills look professional. Another struggled to get the numbers right; now we make sure his numbers are right. Then there is the time you save by not having to struggle with arcane coding issues or Medicare rules, because now you can just ask us. All of these things may have value to you.
Tech-Savvy
Therapist
1 hour
10 minutes
$200
$166
$150
$16
$192
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