The worst disease to weaken counseling is the Investor-Based Company. Their timing was perfect as they moved in when therapists were losing clients due to Covid and people losing their jobs, their insurance and extra money to pay for the best counseling. With an investor-based company, on average you pay $80 for a counseling session. The therapist gets $40. You get to text, email and call as many times as you wish between sessions. The therapist could spend hours on those and actually make $0.
Just like in 1992, the best therapists now compete with those willing to accept $40 or less per session. And just like in 1992, the best are taking secular jobs and applying their skills to other opportunities. You still have choices among hundreds of good counselors who are hanging on as they are watching their clients dwindle toward the inevitable. Just like with insurance in 1992, these are jumping on the bandwagon by the thousands, thinking that accepting $40 is the only way to get clients. What they don’t realize is that insurance was designed to help people and counselors alike. Investor-based companies don’t care about anything except profits for their shareholders. These companies are springing up like weeds all across our nation as investors join the feeding frenzy. The investors know that most people don’t know the value of good counseling and will choose the cheapest option–theirs.
As the best of the existing therapists find that they cannot earn a living on $40 minus time answering texts, emails and phone calls, they will find other work. Fewer students will choose counseling, colleges will stop pumping out hundreds of candidates for counselor training, and investors will find other projects to feed their frenzy. The public will be left with the majority of counselors inexperienced and living at the poverty level. Much fewer in number will be psychiatrists charging $400-$600, psychologists accepting $250-$400 and the best counselors charging over $200. Only the wisest and well-employed will pay for the best therapist and the rich will pay psychiatrists and psychologists. Effective, affordable counseling as we know it will be gone. Shopping for counseling by price will have won.
Lane A Stokes, LPC CounselingServicesAtlanta.com 404-487-1956
Thanks for your continued referrals during these trying times. You are true friends in my time of need. Watch for the next article in this series to see the positive aspects of this sad situation.
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