Anyone running an independent psychiatry practice?

[GordonGekko, MSN]

Currently doing ER, urgent care, and some cash psychiatry.  Doing around $250k between my hustles for 20 days of work a  month.  Looking at going full time independent psychiatry and hoping to beat that.

90792, 99213, 99214, and 90833 add on.  

Looking for information regarding how much a practice bills on average per month and maybe touching base for some more questions.  

[umbdude, MSN, APRN]

I'm not independent but I know my reimbursements. My experience (1 practice) is that commercial insurances are paying very close to Medicare rates (but I'm still getting the 2020 rates). Telehealth might be a bit different for other states.

https://therathink.com/insurance-reimbursement-rates-for-psychiatrists/#billing-tips

[GordonGekko, MSN]

Just now, umbdude said:

I'm not independent but I know my reimbursements. My experience (1 practice) is that commercial insurances are paying very close to Medicare rates (but I'm still getting the 2020 rates). Telehealth might be a bit different for other states.

https://therathink.com/insurance-reimbursement-rates-for-psychiatrists/#billing-tips

Thanks.

I've read the average is $200 for a 90792 and $100 for a 99214 but that is for Physicians and NP should be able to get 85% of that.  While I will be "independent" I will still have a collaborating physician as many insurance companies require one still.

[umbdude, MSN, APRN]

1 hour ago, GordonGekko said:

Thanks.

I've read the average is $200 for a 90792 and $100 for a 99214 but that is for Physicians and NP should be able to get 85% of that.  While I will be "independent" I will still have a collaborating physician as many insurance companies require one still.

Rates will vary a bit depending on the practice and insurance companies but those are probably within the range. One way to find out is to interview fee-for-service jobs and ask them to give you what they're getting for reimbursements within your state.