Episode 228 | Beyond Coverage: Exploring the Influence of Insurance Companies in Group Practices

The Group Practice Exchange

Have you ever wondered how insurance companies are impacting the mental health industry?

In this episode, I dive into the influence of insurance companies in group practice. Insurance companies are moving away from paying based on the duration of therapy sessions and towards paying for the quality of care provided. This shift could potentially result in lower reimbursements for therapists, unless we advocate for how values-based care should be reimbursed. Additionally, I discuss the trend of insurance companies owning group practices, which gives them control over therapist compensation and allows them to increase profits. It's important for us as mental health practitioners to understand and adapt to these changes in order to thrive in the evolving landscape. Join me to learn more about:

• The shift from duration-based reimbursement to values-based reimbursement by insurance companies
• The importance of advocating for fair reimbursement rates and how measurement of care should be based
• The trend of insurance companies owning group practices and its impact on therapist compensation

As group practice owners, it's crucial for us to stay informed and proactive in navigating the influence of insurance companies in group practice. By understanding these changes and advocating for fair reimbursement, we can continue to provide quality care to our clients while also ensuring the sustainability of our practices.

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This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.

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