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How large is the private practice mental health therapy market in the United States (psychologists, psychiatrists, therapists)?
Hello! Thank you for asking about the private practice mental health therapy market in the United States, segmented by psychologists, psychiatrists, and therapists. The short answer is that there are 8,910 psychiatrists, 22,530 psychologists, and 41,660 mental health counselors in private practice in the U.S.. A total of $5.6B in wages was earned by these practitioners in 2015. A summary of my findings follows and can be viewed in the attached spreadsheet.
METHODOLOGY
My primary source of information was the U.S. Bureau of Labor Statistics website, and I defined "private practice" as those working in offices of physicians, individual and family service providers, and other health practitioners. I've excluded school psychologists, providers based in hospitals, and those employed by substance abuse treatment centers.
Please note that my research did not take into account social workers or other certified professionals (such as CADCs) that may also provide mental health services in private practice settings.
PSYCHIATRISTS
Total: In offices of physicians and other health practitioners:
Annual mean wage:
Total wages = 8,910 * $197,584 = $1,760.5M
States with highest employment in this industry (for all psychiatrists):
PSYCHOLOGISTS
Total: In individual and family services + other health practitioners:
Annual mean wage:
Total wages = 22,530 * $85,033 = $1,915.8M
States with highest employment in this industry (for all clinical, counseling and school psychologists):
MENTAL HEALTH COUNSELORS
Mental health counselors are those who provide services to individuals and groups to promote "mental and emotional health, and include those working with prevention, addiction and substance abuse issues; family, parenting, and marital problems; stress management; self-esteem; and aging."
Total: In individual and family services + other health practitioners:
Annual mean wage:
Total wages = (41,660 * $46,251) = $1,926.8M
States with highest employment in this industry (for all mental health counselors);
Total wages across all three categories: $1,760.5M + $589.3M + $1,926.8M =$4,276.6M.
OTHER HELPFUL FINDINGS
Total mental health spending in the U.S. in 2015 came to $195.6 billion, or roughly $608.49 per capita. Broken down my payer, private insurance was the largest payer at 28% ($54.6 billion), followed by Medicaid at 25% ($48.1 billion) and Medicare at 15% ($28.1 billion) and other state and local funds at 14% ($29.5 billion).
The need for mental health services continues to rise, and there remains an unmet need in the U.S. for treatment. A combination of the stigma associated with mental illness, access, and costs contribute to this need.
A 2014 SAMHSA National Survey on Drug Use and Health indicates that 15.7 million adults reported having a major depressive episode during the prior 12 months, though 33.2% did not seek professional help. The same survey showed that 21.2 million Americans 12 and up needed treatment for a substance abuse issue in 2014; yet, only about 2.5 million people received the needed treatment during the prior 12 months.
CONCLUSION
To summarize, there are 8,910 psychiatrists, 22,530 psychologists, and 41,660 mental health counselors in private practice in the U.S.. A total of $5.6B in wages was earned by these practitioners in 2015. These findings can be found in the attached spreadsheet.
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