Medical Practice Funding for Psychiatrists
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Managing a busy psychiatric practice shouldn’t mean running on empty. A packed calendar, delayed reimbursements, and high overhead can make growth feel out of reach.
When income is tied up in claims, medical practice funding can give you room to act. Chello’s medical practice line of credit lets you expand services, invest in training, and explore new opportunities—without waiting on reimbursements.
Why Cash Flow Is a Constant Issue for Psychiatrists
Reimbursement rates are lower than in other medical fields, and payments—whether from insurers or patients—don’t always arrive on time. Even full calendars can leave psychiatrists struggling to meet expenses, due to challenges like:
- Reimbursement gaps. Psychiatrists receive about 25% less per visit than other specialists. In many cases, insurers pay non-physician providers more for similar care.
- Out-of-network care is common. Patients are nearly nine times more likely to see a psychiatrist out of network than another type of doctor.
- Delayed insurance payouts. Even when billing insurance, practices often wait weeks—or longer—for payment, especially when dealing with public plans or prior authorizations.
- Limited billing support. About 89% of psychiatric practices in the U.S. are run by a single provider, which means most don’t have dedicated staff to manage claims, appeals, or payment follow-up, adding even more delays.
Traditional Funding Options: Why They Don’t Work
So, where do psychiatrists turn when they need funding? Too often, they encounter systems designed for other industries—tools that don’t match the unique rhythms of clinical care.
Common options include:
- Credit cards. Easy to access but costly over time. High interest rates make paying for ongoing costs like rent, payroll, or software subscriptions more expensive.
- Factoring services. Some providers use third-party companies to get advances on insurance claims, but these services take a percentage of each payment, reducing overall revenue.
Chello offers a solution built around the way your practice operates.
How Chello Supports the Way You Work
Chello Boost Line of Credit is a funding tool for self-owned practices. With a Chello medical practice credit line, you can get fast access to funding to address cash flow needs.
With access to funding and financial insights, you can finally focus on what moves your practice forward.
What You Can Do With Funding
Once you have funding, your options expand. A line of credit gives you the flexibility to handle immediate needs or finally take that next step forward.
With Chello, you can:
- Add clinical or admin support. Hire a provider, billing support, or administrative help to ease your workload and keep patient care running smoothly
- Pursue certifications and advanced training. Pay for certifications in methods like EMDR, get licensed in more states, or complete board training that supports your goals.
- Upgrade tech and systems. Improve how your practice runs with better EHR software, telehealth platforms, or scheduling systems that work for you and your patients.
- Bridge gaps during slow periods. Tap into your medical practice credit line to handle costs during insurance delays, staff time off, or seasonal dips—without putting everything on hold.
Grow Your Psychiatric Practice With Chello
Psychiatrists shouldn’t have to choose between patient care and financial stability. Chello’s medical practice line of credit offers a faster way to access funding, so you can focus on building the practice you want.
Sign up today to get started. You can apply in minutes, and access funding to support your next step.
Subject to credit approval. Chello is a division of Oriental Bank, Member FDIC
