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Practice Management News for Psychotherapists

July 2015

The Emerging Market of Concierge Therapy

Over the last several years, the world of primary care medicine has seen an increase in the provision of concierge medical services. Many physicians are developing thriving practices based on this patient-centered, cash-pay business model, and they are learning that this highly proactive and individualized approach can actually be not only cost-effective for the patient, but it can also result in a bigger bottom line for the provider.

What does this  mean for psychotherapists and the private practice business model?

“Concierge therapy” can be defined as a “total-care” service system implementing an anytime, anywhere practice model whereby clients have the security in knowing that their mental health provider will be available whenever the need arises. This "total-care" service offers flexible, immediate, and individualized treatment through various service models and retainer-style or membership -based fee programs. The concierge private-pay structure allows providers to define a treatment arrangement that is more convenient and comprehensive for the client than regular private pay structures, and it allows the provision of services without the restrictions of insurance regulations, insurance adjusters, or their third party adjusting agencies. The benefit of this model is that it allows therapists to focus on the client’s treatment needs, rather than on watching the session clock and filling out insurance forms. Simply put, the provider’s attention is placed solely on the client.

Here are some examples of the services which may be offered in concierge therapy...READ MORE

Click here for the full article

Argonaut Does That?

Can my clients access a record of their session fees and payments?

Yes. Clients with access to their Client Portal accounts can view their session fee history and payment history from the beginning of treatment. The Client Portal is a password protected, encrypted website where therapists manage permission-based settings for each client, that include payments and session fee history, self-scheduling appointments, client contact profile, and electronic intake forms. Within the sessions and fees history, the records include the dates of service, type of service provided, session fee amount with payment, and balance due.  The payment section details the date of payment, the amount paid, and the date of service to which the payment was applied. Clients are able to print these records at their convenience.

Click below to learn more and watch a video about the Client Portal:

Client Portal Link

Client Portal Video

Argonaut News

ICD-10 UpdateICD-10 Update

After an extensive wait and a year-long delay, the ICD-10 will at last go into effect on October 1, 2015. This means that all providers, insurance and non-insurance mental health care providers, will be expected to transition to the new ICD-10 codes for any sessions taking place on October 1 and thereafter. Argonaut will be helping therapists ease into the transition by updating the diagnostic code list in the system beginning October 1st. There will also be a temporary ICD-9 code list available for sessions that occurred prior to October 1, 2015.

 

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