Psychiatry service providers have started adopting cognitive behavioral therapy and applied behavioral analysis to provide better treatment options to the patients and increase revenues. Cognitive behavioral therapy (CBT) is a type of talk therapy (psychotherapy). Cognitive behavioral therapy helps the patient in becoming aware of inaccurate or negative thinking, enabling them to view challenging situations more clearly and respond to them in a more effective way. CBT is a very helpful tool in treating mental health disorders, such as depression, post-traumatic stress disorder, phobias, sleep disorders, eating disorder, obsessive-compulsive disorder, substance use disorder, bipolar disorders and schizophrenia. Applied behavior analysis (ABA) is a therapy based on the science of learning and behavior. It is used to increase behaviors that are helpful and decrease behaviors that are harmful or affect learning. ABA therapy can help increase language and communication skills, improve attention, focus, social skills, memory and academics, and decrease problem behaviors. For example, Brigham and Women’s Hospitals provides cognitive behavioral therapy treatment combined with education, training and innovative cognitive-behavioral research.
The global psychiatrists’ market is expected to grow from $197 billion in 2019 to nearly $257 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%.
Telepsychiatry technology is another prominent method being adopted by psychiatrists for the exchange of valid information for diagnosis, treatment and prevention of disease. Virtual mental health counseling is an effective solution for providing specialty healthcare in the form of improved access and reduced cost in a single point of virtual access, to grant consumers answers to their healthcare needs from a distance. A study by US-based hospital and biomedical research facility, Johns Hopkins, reveals that there is a 25% drop in the number of days patients were hospitalized if they chose online counseling. In practice, the National Institute of Mental Health Sciences and Neuro Sciences (NIMHANS), a mental health and neuroscience education and patient care institution, and Indian Space Research Organization (ISRO), have collaborated to provide telepsychiatry consultations to patients in district hospitals in Karnataka, India.
Psychiatry service providers have started putting more emphasis on the quality of the treatments provided to their patients to provide world class treatment to their patients and in turn generate more revenue. Psychiatric professionals should deliver the best services to patients to improve patient satisfaction and customer service. Improvement in patient satisfaction and customer service will help increasing the revenue. Psychiatric service providers such as Howard University Hospital Department of Psychiatry and Behavioral Sciences provide world class, evidence-based psychiatric treatment for all ages and for a wide range of diagnoses. The World Health Organization (WHO) is providing improved health systems and services for mental health. Psychiatric service providers such as the American Health Association focus to improve the delivery of behavioral health care, to prevent harm, and improve patient and worker safety.