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How much do Psychiatrists really make?

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1 hour ago, MBDTF said:

What's the breakdown like for billing in Ontario for in-patient vs outpatient psychiatrists?

Not sure - I don't have much interest in doing inpatient work so I haven't much looked into it.  Inpatient is more lucrative, I think.

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19 hours ago, MBDTF said:

What's the breakdown like for billing in Ontario for in-patient vs outpatient psychiatrists?

Its variable.  Inpatient billing codes for your time-based billing codes are about $10 higher for inpatient psychiatric care and family care (e.g. family meetings). Inpatient care has the potential to be more lucrative as your patients are there on site so you don't need to worry about no-shows (although patients being on passes when you want to see them can be a common-enough occurrence). Right now a regular inpatient unit of time (20 mins =1 unit, 46 mins = 2 units) is around $90 and will be increasing to close to $100 with the billing schedule increases. You also get compensated for placing people on mental health forms ($130 for a form 1 and around $100 for a form 3 from what I call) which can be billed in addition to psychiatric care units. If you did all your charting while the patient is in front of you, kept all follow-ups to 20 mins and did some form renewals along the way you could make like make $330+/hour, but in practically, the reality of making anywhere near this amount is low. Additionally, anything that doesn't involve a patient sitting in front of you (team rounds, etc) is generally not paid.  There are some billing codes for team rounding but I don't think they're very lucrative and I think that a lot of psychiatrists don't bother with them.

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