The Business of Private Practice in Psychology in the Day and Age of the Affordable Care Act

Abstract

The business of private psychological practice historically has involved both skill in providing therapeutic care and financial acumen. The complexities of the current healthcare system in America have made the dilemma of providing quality treatment and managing business for financial sustainability nearly untenable. The implementation of the Patient Protection and Affordable Care Act (ACA) in 2010 brought more than 28 million previously uninsured individuals into the healthcare system. At the same time, the ACA added greater complexity to the healthcare system. The dilemma of providing quality treatment and maintaining financial viability has never been more challenging for mental health professionals serving in private practice. The author of this qualitative study examined how the current healthcare environment has impacted three different practices. The present study examined how the climate of the mental healthcare world has impacted the mission and financial sustainability of three practices as a result of the ACA and other factors.