Balancing Therapy and Medication Management as a Psychiatrist

Performing therapy as a psychiatrist can be both rewarding and challenging. In this episode of the Sit and Stay Podcast, Parker Anderson and Thomas Tarshis explore the benefits and financial implications of integrating therapy sessions with medication management in psychiatric practice. They discuss the nuances of balancing patient care with the business side of mental health, and how psychiatrists can navigate the complexities of offering comprehensive treatment. 0:00 Introductions 2:03 What are the benefits of a psychiatrist performing therapy with their patients? 7:04 Do psychiatrists have a financial incentive to do less therapy and more prescribing? 13:05 Can psychiatrists bridge the financial disparity between therapy and prescribing? 18:53 Are there billing or insurance-related changes for psychiatrists who do therapy? 21:37 What change in billing can patients expect when picking a psychiatrist for therapy? 24:36 How do patients respond to their psychiatrist also being their therapist? 30:09 Mental Health Business Moment of the Week 33:10 Conclusions