The Carepatron report analyzes how much therapists will cost in 2022 | Panda Anku

Therapist offering virtual services

Record healthcare inflation and increased demand for mental health services have fueled a boom in treatment costs.

NEW YORK, NEW YORK, UNITED STATES, Aug. 30, 2022 /EINPresswire.com/ — Recent data-based studies are finding a significant rise in mental illness in the United States. While the demand for quality healthcare appears to be increasing (particularly in the wake of the COVID-19 pandemic), costs are also increasing. In fact, Carepatron found that healthcare spending increased 9.7% in 2020, a more significant increase from 2019’s 4.3%.

According to the Money and Mental Health Policy Institute, worry about finances is a massive source of stress and anxiety for many United States citizens, resulting in a circular problem. People are stressed because they aren’t making enough money, and while one solution to chronic stress is to seek therapy, financially troubled people are unlikely to pay an expensive therapist. As you can see, this can be a complicated situation. Although each scenario is highly subjective based on the experience of the individual, not being able to afford therapy can be a frightening reality for the patient and their loved ones when you need quality healthcare.

One solution to expensive health care is to seek a teletherapy service. Telehealth distributes healthcare services through remote communication channels, including messaging, telephony, or video conferencing. Despite being a form of healthcare that has been around for decades, it has grown exponentially. McKinsey and Company found that telemedicine usage increased from 11% in 2019 to 76% post-pandemic. By offering virtual service options, a therapist eliminates the need for office space, saving time and money. While also reducing the cost of a therapy appointment (albeit slightly), it becomes more affordable and accessible to patients in need.

So how much should you expect?

Although it is difficult to obtain a highly accurate indication of therapy fees, an individual in-person therapy session likely costs between $150 and $250, according to a number of US-based studies. On the other hand, a telemedicine therapy session will likely range from $60 to $100. A wide range of different factors influence how therapists set their fees, including the type/duration of service, the therapist’s experience, and geographic location.

What about the insurance?

Insurance plays a big role in whether people can afford therapy or not. Most health insurance plans cover mental health services, including therapeutic services, but it’s still important to check with your healthcare provider. When it comes to health insurance, things get a bit complicated when it comes to networks. Insurance providers usually have a certain number of healthcare companies in their network and you must seek treatment from these practices; Otherwise you are not covered. A thorough understanding of what appointments and treatments your insurance covers will help ensure you have all the relevant information.

The full report can be found here.

Additional reading:
https://www.mhanational.org/issues/state-mental-health-america
https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/telehealth-a-quarter-trillion-dollar-post-covid-19-reality

About Carepatron

Katherine Ellison is a Practice Specialist at Carepatron, a community-focused healthcare workplace for physicians and their clients. Learn more at www.carepatron.com or for additional resources contact Jamie Frew at jamiefrew@carepatron.com or +1.415.862.1910.

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