The insurance industry has gutted an entire branch of medicine and handed it over to drug companies

The incredible shrinking shrink

Where were you when the insurance industry completely gutted an entire branch of medicine and handed the whole thing over to drug companies?

If you’re like me, you didn’t see this one coming at all.

And if you ARE like me, you’ll want to spit bullets when you hear how easy it was for insurance companies to remove a drain on their expenses, all to the huge financial benefit of giant drug companies.

And of course there’s just one detail left to make this situation completely deplorable: The losers in this high stakes maneuver are some of the most vulnerable patients in our society.

Hurry it up

Do you ever wonder if insurance company executives and drug company executives get together late at night and dream up ways to milk us for every dime we’re worth?

I don’t wear a tinfoil hat and I’m not a conspiracy theorist, but I’m convinced they’re in cahoots.

Exhibit A…

A recent New York Times article tells the tale of Dr. Donald Levin, an old-school “talk therapy” psychiatrist who’s nearing retirement.

There was a time when Dr. Levin’s session with a patient ran 45 minutes. Under his guidance, patients would talk about their most personal issues, learn to cope, and rediscover self-worth.

But throughout the 1980s and 90s, insurance companies sharply reduced reimbursement for traditional talk therapy. This amounted to a drastic pay cut for most psychiatrists who didn’t have patients wealthy enough to afford $200 or more per session.

So the profession realigned. Today, instead of spending 45 minutes with a patient, most psychiatrists–including Dr. Levin–spend just 15 minutes. The patient quickly details or updates his primary personal concerns and the doctor writes or adjusts prescriptions for one or more psychoactive drugs.

In short, the insurance industry has created a new profession: Drug pimp.

There was a time when psychiatrists avoided the use of drugs while a patient improved with talk therapy. It was a point of professional pride. For the majority of the profession, that time is long gone.

Now, instead of earning about $90 for a single 45-minute talk therapy session, psychiatrists collect about $150 from insurance companies for three sessions per hour, 15 minutes each.

If you’re ever referred to a psychiatrist and find yourself in the express lane to the drugstore, say no thanks and ask for a referral to a psychologist or a social worker. The expense will be lower, and it might even be covered by insurance.

As the Times notes, there’s no evidence that psychiatrists provide higher quality talk therapy than psychologists, who are well-trained professionals. And if you can find one who’s not inclined to recommend drugs as an instant panacea, you just might talk your way through your most important personal issues–completely free of adverse effects.