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          1. Mental Health Professionals Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 9/7/2020
            SIC Codes: 8049
            NAICS Codes: 621112, 621330
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Mental Health Professionals Industry Profile

            Practitioners in this industry include physicians, psychologists, social workers, and other mental health professionals who diagnose and treat mental and emotional disorders, addiction, and other mental illnesses. Major companies include the mental health divisions of large hospital chains.

            Resources for mental health services vary greatly by region and by country. The global average is nine mental health workers per 100,000 patient population, but rates vary from less than one in low-income countries to more than 70 in high-income countries, according to the World Health Organization (WHO).

            The US industry includes about 34,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $19 billion.

            Mental health professionals are divided into two main categories: psychiatrists with medical degrees authorized to prescribe medication and perform minor medical procedures, and psychologists and social workers with masters and doctoral degrees who primarily provide counseling and are restricted from prescribing medication.

            COMPETITIVE LANDSCAPE

            Demand is driven primarily by the number of patients requiring mental health services. Profitability depends on patients' ability to pay and insurers' willingness to reimburse for services. Large practices may enjoy economies of scale related to administration and back-office operations. Small practices can compete effectively by developing referral networks. The US industry is highly fragmented: in each of the two main segments (psychiatrists and other professionals), the top 50 companies account for about 15% of revenue.

             
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