Economic Benefits
Decrease overhead costs
For many therapists, office rental costs have made up a large chunk of their overhead expenses, particularly in larger cities. Teletherapy gives you the option to give up your office, maybe even for good. Reducing this huge monthly expenditure can greatly boost profitability while also giving you the comfort of working from your own home or preferred space. HIPAA Video also gives therapists easy options to add assistants to office workflows, decreasing the need for in-person, front desk support, further driving down overhead costs.
Gain the freedom to practice remotely
Therapists usually must be licensed in the state where the patient is receiving the therapy and under the jurisdiction of that state’s mental health licensing board. This means that in-person appointments require both the therapist and patient to be physically present in the same state. Teletherapy gives you the freedom and flexibility to practice remotely by allowing you to have a license to operate in one state and reside and practice teletherapy from a different state/- jurisdiction, as long as the patient remains in the state in which you are licensed.
Specialized services without increased costs
Therapists in a variety of specialized fields are now able to offer their services through teletherapy without having to spend more money in order to accomplish these services. By practicing remotely, you are able to take advantage of virtual built-in tools during your appointments that allow you to offer services that are specialized. Medical device integration also makes it possible for therapists to use built-in tools without the added expenses of particular medical tools that are only accessible through in-person appointments. Additionally, you don’t need to hire extra staff to assist you. The nature of teletherapy allows you to handle things more hands-on without hiring extra staff which in turn reduces monthly costs.
Built in billing and transaction services
HIPAA Video offers therapists the ability to accept direct payments from patients through its system. Therapists can now accept direct payments from their patients by connecting their personal Stripe accounts with their office. This reduces not only costs but also time spent on going through third-party affiliations and services to handle payments and bills.
Reaching out to more patients
With the flexibility that comes with teletherapy, therapists are able to reach out to and provide care for more of their patients. Therapists can meet with more patients throughout the day because of HIPAA Video’s easy scheduling system and calendar. Research shows that compared to in-person visits, patients attend teletherapy appointments at a higher rate without cancellations or rescheduling. Additionally, this will economically benefit therapists and their practice/office since they are now able to schedule more appointments throughout the day and patients are able to attend appointments.