The financial state of private practice
For the second year in a row, Heard surveyed therapists nationwide to better understand the state of private practice finances.
Over 2,000 therapists completed the survey.
What did they learn?
89% of therapists make less than $100K after expenses. Yet 25% of therapists have more than $100K in student loan debt.
The average reimbursement rate from insurance is 25% less than the average out-of-network rate for individual therapy. Meanwhile, insurance companies are making billions in profits.
Expenses are up due to inflation and 83% of therapists are worried about the impact of the economy on their practice.